Samuel License

(89,205 Acres)

Target: Oil Lower Cretaceous Carbonates at 3,200m
Target: Gas Plio/Pleistocene, Oligo/Miocene, Turbidites, Canyon Filled Sands: 2,000m
Exploration: 45 Km2 3D OBC (Ongoing) (ARIS Nefterazvedka) Existing 2D indicates presence of DHI
Processing:  Ongoing-IOX-CXT
Prior Drilling: Yam-2 Well immediately west tested oil in Jurassic, Ashdod oil field in Jurassic, Heletz oil field (Lower Cretaceous)
Drilling: Shallow water 40 to 100 meters
Operator: Adira GeoGlobal (Adira Lead)
Working Interest: 38.25%
Partners: Brownstone Energy 6.75%, Pinetree Capital 10%, GeoGlobal Resources 45%