MedOil Applies for Italian Exploration Licenses

MedOil has recently applied for new exploration licenses offshore Sicily, blocks number d349C.R-.MD and d350C.R-.MD, which were gazetted on February 1, 2006 by the Italian government. This application may or may not lead to a license being granted to the Company in due course.

The company is also looking at other opportunities in Italy and Albania.

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