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Baraka to Progress Mauritanian Taoudeni Acreage

Source: www.gulfoilandgas.com 6/20/2006, Location: Africa

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Baraka Petroleum Limited is pleased to confirm that the Ta11 & Ta12 Joint Venture in Mauritania is progressing to the next stage of evaluation. During this next stage the joint venture is acquiring and interpreting geophysical airborne and surface data over an area of approximately 70’000 sqkm. Recent independent evaluation of the oil & gas potential of the Ta11 & Ta12 blocks by RPS Energy has confirmed potential for 722MMbbl oil and 2.5 Tcf gas in Prospective Resources.

Baraka believes that the airborne survey will further define a number of leads identified in a recently completed reprocessing of historical low-density 2D seismic data (ASX Announcement 18 Jan 2006) and importantly gain a more complete understanding of the stratigraphic and structural nature of the basin. Baraka plans to integrate the results of the airborne survey of the two blocks, when completed, with the airborne survey the Company is conducting over five large adjacent blocks within the Taoudeni Basin in Mali.

Through the integration of the results of both aeromagnetic and gravimetric surveys across the border, Baraka will be the first company to have a complete and unique view of the Taoudeni Basin combining modern airborne data with a complete set of reprocessed seismic data. The Ta11 & Ta12 Joint Venture participants are Baraka Mauritanian Ventures Limited (25%), a wholly owned subsidiary of Baraka Petroleum Limited, and Woodside Mauritania Pty Ltd (75%), a wholly owned subsidiary of Woodside Energy Ltd.

Baraka is free carried for the whole of this next evaluation stage.

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