Verenex: Libyan Tests Could Go into March

Verenex Energy Inc. said that testing continues at its first exploration well in Libya, A1-47/02 in Area 47 in the Ghadames Basin. The Company expects that the extensive testing program planned could continue into mid-March.

Interim testing results on one of several intervals to be tested are under review by the Company and Libyan regulatory authorities, and on a preliminary basis, are encouraging.

Verenex is a Canada-based, international oil and gas exploration and production company with a world-class exploration portfolio in Libya, where it operates and holds a 50% interest in the exploration and production sharing agreement for Area 47, and the Bay of Biscay offshore France.

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