Alamo Completes Seismic Analysis in UK

Alamo has completed its analysis of reprocessed seismic lines and existing wells in close proximity to Alamo's blocks.

Using the reprocessed seismic lines that run into Alamo's 400 km sq exploration blocks we have been able to map the route for our proposed 2D seismic shoot. From our analysis of these seismic lines and wells in close proximity, we believe that the structural trend and oil migration correlates with our model for the blocks.

Having already completed a permit study we are now in a position to commence discussions with potential seismic service companies with the intention of shooting a 2D seismic shoot in 2010.

Alamo's four UK onshore license blocks (TQ26, TQ36, TQ46, TQ56) lie directly north of the producing Palmer's Wood Oilfield operated by Star Energy, a subsidiary of Petronas. According to an independent geological report, the hydrocarbon resource potential for all four blocks is approximately 236 million barrels.

Philip Mann, Alamo's Chief Financial Officer, said, "The data from the reprocessed seismic lines and wells are extremely exciting. The report indicates that the Knockholt discovery which is located directly South of our blocks encountered oil in approximately 23 ft of Corallian Sandstone and appears to have been drilled into a low area, with the strata rising to the south and to the north into our block."