Pebercan Completes Seboruco 9 in Cuba

Pebercan has successfully completed the Seboruco 9. The well is located between Seboruco 8 and Seboruco 10, this new well was drilled to optimize the drainage of the eastern part of the field. First tests show a good potential for this well with production ranging from 1200 to 1500 barrels per day.

Next development well on Seboruco field will be Seboruco 11, which trajectory will be located 340 m east of Seboruco 10. This well is thought to begin on April 7, 2005.

Pebercan Inc. is involved in the exploration, development and operation of oil reserves in the Republic of Cuba. Its mining domain includes five concessions covering 6,055 km2, including Block 7, the only concession operated to date. Pebercan sells all of its production to the Cuban government.