Staatsolie Semi Annual Report"The preparations for the execution...

Staatsolie Semi Annual Report
"The preparations for the execution of Paradise Oil Company’s (POC) exploration onshore drilling work program in Coronie are on schedule. In January phase one (1) of the Uitkijk Block exploration program was finalized with the drilling of the last three (3) wells. A total of ten (10) wells were drilled within this program. All ten (10) wells showed good oil indications and preliminary estimates indicated a potential field of seven (7) million barrels reserves. The five (5) wells scheduled for 2009 by Paradise Oil Company and its joint-venture partner Tullow Oil, in the Coronie block will be drilled in September 2009.
If the results are promising the second phase will commence with a minimum of ten (10) wells."