Area Drilling

June 9, 2008

Albania

The DWM Petroleum AG subsidiary of Manas Petroleum Corp., Baar, Switzerland, let a contract for acquisition of 400 line-km of Vibroseis and dynamic 2D seismic surveys on Manas-held acreage in Albania.

The survey, to be shot starting in July, is to refine the definition of nine prospects identified in the Albanian fold thrust belt. Drilling is planned in 2009. Blocks A, B, D, and E cover more than 3,000 sq km.

The seismic shoot will augment the 679 km of data recently processed by GeoConcept, Denver.

China

Zhong Yuan Ltd. of Xinjiang Province signed a memorandum of understanding with TrueStar Petroleum Corp., Vancouver, BC, that provides the structure for partnering to exploit coalbed and coal mine methane in the Chinese province.

The MOU sets up a framework for the companies to seek needed regulatory approvals to implement field projects.

Zhong Yuan provides electricity to the province’s central power grid and holds interests in more than 2,800 sq km of coal acreage in the Zhunggar and Tuha basins.

Bankruptcy court approved TrueStar’s sale of most of its Barnett shale assets in Texas for $17.8 million, to close May 30, which will allow the company to proceed with its Guatemala and China projects.

Colombia

Petro Vista Energy Corp., Vancouver, BC, plans to take a farmout from New Horizon Exploration Inc. of a 25% working interest in the 68,473-acre La Maye Block in Colombia’s Lower Magdalena basin.

Completion is subject to Petro Vista receiving TSX Venture Exchange acceptance and Agencia Nacional de Hidrocarburos approval of the assignment of the 25% interest to Petro Vista.

The block, east of Cicuco oil and gas field, has four to five large prospects identified. Drilling could start in October.

Phase 1 of the exploration and production contract is for 12 months and requires reprocessing 138 line-km of seismic data, already completed, and drilling one exploration well to at least 5,000 ft.

Iraq

WesternZagros Resources Ltd., Calgary, spud its Sarqala-1 wildcat in early May on the 2,120 sq km Kalar-Bawanoor Block in Iraqi Kurdistan.

The well, first of a multiwell program scheduled for the next 3 years, is projected to 4,800 m to evaluate four potential reservoirs.

Meanwhile, the company continues to shoot seismic. By shooting more than 1,265 line-km, it has exceeded its seismic commitment under the production-sharing contract.

WesternZagros is operator with 40% working interest, and it carries the Kurdistan Regional Government for 20%. The KRG is to allocate the other 40% to a third party by August 2008.

Louisiana

Goodrich Petroleum Corp., Houston, is boosting its net exposure in the Jurassic Haynesville shale to 30,000 net acres by acquiring from a private party 3,250 net acres in Longwood field, Caddo Parish, La.

The acquisition, for $32 million in stock, includes 12.3 bcf of proved reserves, 75% developed, associated with the shallower Cretaceous Hosston and Jurassic Cotton Valley formations. The company obtains interests in 25 gross wells with 1.2 MMcfed of net output.

Goodrich plans to drill two new vertical wells and reenter one well to test the Haynesville shale at Longwood.

The company’s first vertical Haynesville shale well in Bethany-Longstreet field, Cook-1, tested just over 1 MMcfd from the shale. Its second well, Brown-1, cut 230 ft of net shale with extensive gas shows throughout and is being completed. The first horizontal well should spud in 90 days.

Utah

An undisclosed large public company will pay $8.4 million to buy from Pioneer Oil & Gas, South Jordan, Utah, a 15% working interest in 199,000 acres in Pioneer’s Central Utah Overthrust acreage position.

Pioneer will retain a 3.75% working interest and various overriding royalty interests and is participating in a large geophysical survey covering much of the acreage.