TUNISIA

The current situation in Tunisia does not allow to consider acquisition operations immediately. The exclusive prospecting phase for blocks Kasserine and Telemzane ends on August 3, 2011. An application for an extension of 12 months was submitted to the authorities.  The expenditures contractually required for the acquisition of 250 kms of seismic 2D or equivalent 3D per block is minimum of 1.5 million US dollars. The total investment for the Prospection Phase approximates 4 million euros including the cost of seismic acquisition, interpretation, geological studies and operating costs.
 
FRANCE

Partnerships already built with Toreador, Hess and Concorde companies on Champrose, Chevry, Ozoir and partially Yvelines permits will determine the work to be conducted in 2011. The technical capacity of Poros is sufficient to respond to the present needs under a limited and controlled budget.

Recent concerns on shale gas and the environmental impact of their exploitation have created much confusion about the nature of conventional operations in the Paris basin and delay on activities including as well the process of licensing by the French authorities. Poros applications do not target today such plays or unconventional extraction techniques. Six applications are pending. At the western part of the Paris basin « Yvelines and Plaisir ». At the central part of the Paris basin « Chevry and Ozoir ». At the northern of the Paris basin « Pays de Bray et Pays de Bray Sud ».