Sky Petroleum, Inc. is an emerging oil and gas company investing in international exploration and development activities in a prolific offshore oil & gas region in the United Arab Emirates. The Company's common shares trade on the OTC Bulletin Board under the symbol SKPI.OB.

Sky Petroleum, Inc.'s core management and technical team comprise proven oil and gas professionals, with extensive international experience in all aspects of exploration, operations and venture capital markets.

To build near-term shareholder value, management's focus is to seek opportunities where discoveries can be appraised rapidly, and developments can be advanced by accessing existing infrastructure, and further benefiting from the extensive experience of established operators.

In keeping with this strategy, Sky Petroleum, Inc. believes its financial participation in the upcoming infill drilling program on targets situated in the Mubarek Field will provide the basis for near-term cash flow and growth.

In consort with the Company's near-term initiatives, Sky Petroleum, Inc. will continue to pursue high-impact oil & gas projects that demonstrate potential to evolve into world-class discoveries.

To this end, Sky Petroleum, Inc. through its wholly owned subsidiary Sastaro Limited, has in addition to its financial participation in the Mubarek Field, secured the right of first refusal with respect to the possible future development of Crescent's Sir Abu Nu'ayr Island concession area, which is located offshore UAE.

Sky Petroleum, Inc. believes that this project also offers the potential for a major hydrocarbon discovery.