The L5 and L7 Joint Venture comprises:

Woodside Energy (Kenya) Pty Ltd	30% (and operator)
Dana Petroleum (E&P) Ltd	30%
Repsol Exploracion S.A.	20%
Global Petroleum	20%

PSC L5 expired on 11 July 2008 and PSC L7 on 8 June 2008. None of the joint venture parties have given notice that they wish to renew the PSC’s.

As announced previously, notice has been given to Woodside Energy (Kenya) Pty Limited (“Woodside”) terminating the Farm-In Agreement (“FIA”). The termination notice has been given based on Woodside’s refusal to drill a second exploratory well in the project area in accordance with the FIA and its failure to take any steps to remedy this refusal, which the Company considers to be a repudiation and breach of the FIA.
The Company and joint venture partner Dana Petroleum (E&P) Limited have commenced legal proceedings in the English High Court of Justice to recover losses suffered as a result.