ZETA: Romanian Govt. Fully Ratifies Bobocu Concession

The concession agreement for the Bobocu license (100% ZETA Romania) was fully ratified by the Romanian government ministries on Dec. 19, 2007 and was officially gazetted on Jan. 7, 2008.

The Bobocu license was acquired by ZETA Romania on Jan. 15, 2007, and the concession agreement was signed with the National Agency for Minerals and Resources, Romania on March 27, 2007.

The Bobocu license is located approximately 120 kilometers northeast of Bucharest and contains a mature gas field that ZETA Romania intends to bring back into production in 2009.

ZETA Romania estimates that the Bobocu license has remaining 2P reserves of 31.5Bcf (unaudited).