Sky Petroleum to Participate in US-Albania Investment Forum
First US-Albania Investment Forum being held in New York ? September
19th, 2011
Sky Petroleum, Inc. (OTCBB: SKPI), an oil and gas company, announces
that will be participating in the First US-Albania Investment Forum
being held on September 19th, 2011 in New York, NY.
The US-Albania Investment Forum features a delegation led by HE Sali
Berisha, Prime Minister, Government of Albania, and will also include
Hon Edmund Haxhinasto, Deputy Prime Minister and Minister of Foreign
Affairs, Hon Nasip Naco, Minister of Economy, Trade and Energy and Hon
Sokol Olldashi, Minister of Public Works and Transportation. The
Albanian Honorary Consul, HE Dritan Mishto will open the forum and will
then describe the current investment climate in Albania and the
country′s efforts to attract foreign direct investment. The introduction
will be followed by various breakout sessions as well as numerous
networking opportunities.
'We are very pleased to participate in the First US-Albania Investment
Forum, which will enable us to highlight our extensive Albanian assets
to the significant number of senior institutional investors attending
the event,? stated Karim Jobanputra, Sky Petroleum′s chief executive
officer.
Exploration Blocks Four, Five, and Dumre
The PSC has a seven-year term with three exploration periods. Upon
commercial discovery of gas, the agreement allows for development and
production periods of 25 years plus extensions at the Company′s option.
Block Four is located in southeast Albania, bordering on Greece; Block
Five is located in southwest Albania next to the Adriatic Sea; and Block
Dumre is located immediately north of the Kucova oil field. Based on
analogous discoveries, it is believed that the prospects contain
significant hydrocarbons.
About the Republic of Albania
Albania has a population of 3.5 million people and is located 50 km east
of Italy, across the Adriatic Sea in Southeast Europe. Albania is a
member of NATO, and has applied to join the European Union. Albania is a
proven hydrocarbon producing region with earliest known bitumen
production dating back to the Roman Empire. Modern exploration began in
the early 1900′s. The Patmos ? Marinza and Kucova heavy oilfields are
among the largest oilfields in Europe. To date there have been ten
significant field discoveries that have produced more than 150 million
barrels.
About Sky Petroleum
Sky Petroleum (OTCBB: SKPI) is an oil and gas exploration company. Sky
Petroleum's primary focus is to seek opportunities where discoveries can
be appraised rapidly, and developments can be advanced either by
accessing existing infrastructure, or by applying the extensive
experience of established joint-venture partners. In addition, the
company also plans some higher risk, higher reward exploration
prospects. For additional information please visit www.skypetroleum.com.
Safe Harbor
Except for historical information, the matters set forth herein, which
are forward-looking statements, involve certain risks and uncertainties
that could cause actual results to differ. Potential risks and
uncertainties include, but are not limited to, the competitive
environment within the oil and gas industry, the extent and cost
effectiveness with which Sky Petroleum is able to implement exploration
and development programs in the oil and gas industry, obtaining drilling
equipment on a timely fashion, commodity price risk, and the market
acceptance and successful technical and economic implementation of Sky
Petroleum's intended plan. Additional discussion of these and other risk
factors affecting the company's business and prospects is contained in
the company's periodic filings with the SEC.
Sky Petroleum, Inc.
Investor and Public Relations, 512-687-3427
info@skypetroleum.com
