The La Punta field in Colombia is the first of a number of opportunities to deliver revenue, drilling and exploration upside through 2008.

Baraka as of 2 October 2007 has added production, development and exploration through the completion of a Sales and Purchase Agreement for a percentage of the la Punta Block in Colombia, with the Company receiving 8.28% of current oil production and 25.75% of the gas liquids stripping business established on-site.

The current schedule will see Baraka and its partners drill the La Punta-2 Development well in March 2008 to add production to the approximately 1300 bopd being produced and the potential to add further resources by targeting deeper formations within the structure.

Baraka is viewing this opportunity as an important first step in achieving our goal of growing the Company via a balanced Exploration and Production portfolio.

The Company’s Acreage holding of over 262,000 sq km’s in West Africa gives it exposure to one of Africa’s last under explored frontier basins. Baraka has established partnerships with highly successful international major E&P Companies in the development and understanding of the Taoudeni Basin.

While frontier, oil and gas shows have been encountered in the four wells that have been drilled in the Basin, with Texaco’s 1974 Abolag-1 well flowing 480,000 cubic feet per day of gas during drill stem testing.

In Mali, the recently completed aeromagnetic and radiometric survey encouraged the partners to immediately commence the acquisition of 6000 line Kms of 2D seismic.

In Mauritania the aeromagnetic and radiometric survey is expected to be completed by the end of 2007.