Baraka Completes Taoudeni Survey

Baraka Petroleum Limited has completed its aeromagnetic and radiometric airborne survey totaling 235,234 line km over its five blocks in the Taoudeni Basin, Mali, West Africa. These blocks cover a total area of 193,200 km2 and extend along the Mauritanian border.

The survey is one of the largest onshore airborne surveys undertaken by a private oil and gas company. Two planes were operative between the end of January and 10 November 2006 completing 1870 hours of flying over a total of 293 days inclusive of 53.5 days lost due to weather.

The data quality was assessed on a daily basis by UTS Geophysics team based in Timbuktu, Mali, and independently validated on a weekly basis for Baraka Petroleum in Perth by Southern Geoscience Consulting (SGC). Bill Peters at SGC said yesterday: "it is clear that there is substantial basement and intra-sediment information visible in the data throughout much of the area."

Three independent international audits of UTS Geophysics' planes and operations were conducted by Hart Aviation for Baraka Petroleum to ensure a safe and secure acquisition. Processing of the data has been run in progressive slots and should be completed within 10 days to allow initial basin interpretation.

An aero-gravimetry survey is planned to start before the end of November and is expected to take approximately 3 months to complete.

Baraka Petroleum Limited is a public company, established to acquire, consolidate and develop oil and gas assets and activities, located initially in the potential hydrocarbon basins in West Africa. Baraka has one of the largest oil and gas exploration assets in West Africa, which has attracted the attention of international petroleum exploration and production companies. The company has secured rights to explore and develop eight tenement areas covering over 272,000 km² in Mauritania and Mali. The company's corporate strategy to preserve capital while maximizing exploration expenditure on the tenements through farm-ins and joint ventures is intended to ensure the company receives full value for its shareholders.