The Company also reported:
* The Sroda-5 well that began drilling on September 12, 2005, is at a depth of approximately 2,000 meters (6,600 feet). The well is expected to test a Rotliegend sandstone target at a depth of approximately 3,600 meters (11,800 feet).
* Seismic acquisition under a 400 km seismic acquisition program with POGC in the Fences I and II project areas is continuing. The seismic program will establish drillsites on Rotliegend structures for drilling under the Company's current planned operations in 2006, and will also cover additional potential targets in the Fences I "pinchout" play where the Lugi-1 well is now drilling.
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