Sky Petroleum Cites Solid Mubarek Production

Sky Petroleum, Inc. has reported that during the second quarter ending June 30, 2008, Mubarek production from the H2 and K2-ST 4 wells was 23,947 barrels of oil.

The Mubarek H2 well produced 8,489 barrels of oil or 93 bopd and the Mubarek K2-ST4 well produced 15,458 barrels of oil or 170 bopd during the second quarter of 2008.

During the second quarter of 2008 the performance of the H2 well was stable. During the same period the K2-ST4 well performed satisfactorily until June 18th when the well was shut in to inspect and repair the flexible gas lift line between the J and K platforms.

Crescent Petroleum Company International Limited, the Operator of the Mubarek Field, is making repairs and estimates the K2-ST4 well will brought back on line by mid-August.