Buried Hill Inks Exploration Deal with the Republic of the Gambia

Buried Hill Energy

Buried Hill Energy (Cyprus) Public Company Limited has entered into two petroleum exploration, production and development licenses with the Government of The Republic of The Gambia. Pursuant to the Gambian Licenses, which have a 30 year term provided the Company meets certain specified exploration requirements, the Company has the right to explore for and to develop and produce petroleum in the offshore A1 Alhamdulilah and A4 blocks.

With the signing of the Gambian Licenses, the Company has issued a notice to Computershare Investor Services plc to deliver share certificates to holders of subscription receipts of the Company. The Subscription Receipts became exchangeable for Ordinary Shares upon the signing of the Gambian Licenses.

"The signing of the two offshore licenses by Buried Hill Energy marks an important step in petroleum exploration activities in The Republic of The Gambia's offshore areas" said Roger Haines, Chairman and Chief Executive Officer of the Company. "Buried Hill Energy's studies and analysis indicate that the offshore license areas of The Republic of The Gambia have substantial potential for the discovery of petroleum and we look forward with excitement to the commencement of our work programs in both license areas."

Buried Hill Energy (Cyprus) Public Company Limited is an international oil and gas exploration company focused on West Africa and Central Asia.