Trefoil Pleased with Atamisqui Discovery Well

Trefoil Limited on Wednesday announced the initial result of its discovery well Aa-1008, which is its first exploration well in Atamisqui, Mendoza province, Argentina.

Drilled to a final depth of 2,450 m (8,000 ft.), the well had an initial production of 500 BOPD of sweet oil of 25-degree API gravity.

Trefoil had acquired a 100% interest in the Atamisqui license, covering an extensive 436 Km2 (107,000 acres) in October 2006. The last productive well was drilled in the area in 1994; field production prior to the discovery was 370 BOPD.

This first exploration well was drilled, in mid-Atamisqui, after Trefoil reprocessed and interpreted the existing 3D seismic data. The well is expected to decline following the average exponential curve for wells in the Cuyana basin.

The discovery opens up six confirmation drilling locations within the same structure. The Company plans to acquire a further 190 Km2 of new 3D seismic covering the northern section of the license this year.

Trefoil is focused on the acquisition, exploitation and development of oil and gas properties in Argentina through its 100% owned Argentine subsidiary, Petrolera el Trebol S.A.