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Company Presentation - Proactive Investors

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Upcoming Activity<br />

December 2009<br />

Complete testing the PEN-104AA well in Hungary<br />

Complete drilling and core analysis of Fontana 1 geological appraisal well in Italy<br />

January 2010<br />

Finalise interpretation of the Petisovci 3D Seismic<br />

February 2010<br />

PEN -105 expected to commence production<br />

March 2010<br />

Finalise interpretation of the Filovci 3D Seismic<br />

GH1 expected to commence production<br />

April 2010<br />

Commence 3D Seismic survey in Lovaszi<br />

H1 2010<br />

Drill PEN-101 & PEN-106<br />

Drill 1st well in Petisovci project<br />

Drill 1st new well in the Filovci project

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