ZETA: Concession Agreements for Jimbolia, Padureni Fully Ratified

The concession agreements for the Jimbolia and Padureni licenses (100% ZETA Romania) were fully ratified by the Romanian government ministries on 25 March 2008 and were officially gazetted on 1 April 2008. The Jimbolia and Padureni licenses were acquired by ZETA Romania in August 2007 and the concession agreements were signed with the National Agency for Minerals and Resources, Romania on 27 August 2007.

The Jimbolia license contains a marginal oil field and the Padureni license contains a marginal gas field which ZETA Romania intends to bring back into production.