PRESS RELEASE Malabo – 3rd May, 2006 Equatorial Guinea 2006 Licensing Round The Ministry of Mines, Industry and Energy hereby announces changes in the dates of the License Round seminars previously announced for London on May 11th, 2006 and Houston on May 23rd, 2006. Those dates are now cancelled and the seminars will be rescheduled for September / October, 2006 in London and Houston. As a consequence, the closing date for the Licensing Round has been extended until January 31st, 2007. The information seminars have been postponed to allow due process in the Equatorial Guinea Government which will ensure that all enabling legislation is in place and consistent.  This will include the Hydrocarbon Law (and its Model Contract and Regulations), the Tax Law and Laws concerning Local Content. The Ministry of Mines, Industry and Energy and GEPetrol has a data room available in central London for companies interested in viewing available technical data. The data room will be open from May 8th 2006 on an appointment only basis. Companies wishing to make an appointment should contact Richard Heath on r.heath@ecqc.com.  Attendance at the Data Room is obligatory for all Companies wishing to participate in the Licensing Round. Further information on the Licensing Round, the application procedures and the pre-qualification process is available on www.equatorialoil.com/2006-round.Updates will be posted regularly.