Sky Reports on Drilling Ops at Second Mubarak Well

Sky Petroleum, Inc. announced that Crescent Petroleum Company International Limited, the operator of the Mubarak Field, has informed the company that the Mubarak K2 ST3 well is currently drilling at a depth of approximately 10,500 feet. The Rani Woro drilling rig successfully cleaned out the casing on the existing K2 well and milled a window in the casing at a depth of 8,974 feet.

The well is being drilled from the existing K wellhead platform within the field boundary, to a planned sub sea depth of approximately 13,200 feet. The well will penetrate the Ilam/Mishrif oil reservoir, which has produced over 86 million barrels of oil from Mubarek Field. Results are anticipated in the third quarter of 2007 after testing of the well.

Sky Petroleum is an oil and gas exploration company. Sky Petroleum's primary focus is to seek opportunities where discoveries can be appraised rapidly, and developments can be advanced either by accessing existing infrastructure, or by applying the extensive experience of established joint-venture partners. In addition, the company also plans some higher risk, higher reward exploration prospects.

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