Puffin South West Drilling Update

AED Oil Limited as operator of AC/L6 reports that drilling of Puffin-10 has reached a depth of 962.5m MDRT. The BOP (Blow Out Preventor) has been installed and is presently being tested.

The Wilcraft Jackup rig is drilling the well. Water depth at location is 84 m. The rotary table is 34.8 m above the sea level. All depths are reported as meters from the rotary table (MDRT) unless specified otherwise.

The primary objective of the well is to drill and complete a horizontal section of at least 200 m in the reservoir interval within the Upper Cretaceous (UK1a) sands. The well is expected take to approximately 55 days to drill and complete. Production from Puffin-10 will be directed through the Modec Venture (MV1) FPSO. Production from Puffin SW is expected to commence in the first half of 2008.

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