Sky Petroleum Highlights Mubarek Third Quarter Production

Sky Petroleum reported that during the third quarter ending September 30, 2008, Mubarek production from the H2 well was 7,875 barrels of oil.

During the third quarter of 2008 the performance of the H2 well was stable. During the same period the K2-ST4 well shut in throughout the quarter for repairs to the gas lift line between the J and K platforms.

Crescent Petroleum Company International Limited, the operator of the Mubarek Field, has determined that a lightweight, flexible, non-metallic pipe will provide the best solution and estimates that repairs to the line will take three to four months to complete.