Sky Petroleum Inc.

Don Cameron, Chief Executive Officer, brings Sky Petroleum, Inc. over 20 years of senior management experience in all aspects of business development and in the oil & gas industry. Among his recognized strengths, Mr. Cameron has a built a solid reputation in the resource sector for his astute ability to spearhead strategic mergers, acquisitions and investment strategies. While working in a senior operations capacity for a major conglomerate, Mr. Cameron successfully managed and executed several large-scale capital business and development plans. On behalf of the Company and its Board of Directors I am pleased to report on certain recent corporate activities. As an early stage oil & gas company our focus is to build shareholder value through key acquisitions and strategic development. In accordance with these objectives, we have focused our immediate attention on the United Arab Emirates, and in our opinion, one of the region's premier off shore oil and gas plays. Through a recent financial participation agreement signed by Sastaro Limited, a wholly owned subsidiary of Sky Petroleum, with United Arab Emirates-based Buttes Gas and Oil Co. International Inc. (BGOI), a wholly owned subsidiary of Crescent Petroleum Company International Limited (Crescent), Sky Petroleum has set the stage for advanced development of the Company by securing major hydrocarbon opportunities that we truly believe would be the envy of even the most senior industry producers. The opportunity to invest in BGOI's infill drilling of development wells on the Mubarek Field not only serves as a perfect complement to the Company's core strategy of achieving early production and cash flow, but also effectively aligns the Company with one of the region's most successful and established private operators with over 30 years of experience in the region. Sky Petroleum expects the strategic infill drilling program on the Q-1 and K-3 prospects situated within Mubarek Field's Ilam/Mishrif reservoir to commence in early 2006. BGOI, the field operator, will drill the wells as part of a two-phase program for a total approximate budget of USD$25-$28 million. Sky Petroleum will have the ability to fast track a return on its investment in the Mubarek Field, as all the necessary facilities to rapidly advance production, including full pipeline and transport infrastructure, are already in place. Our management views the upcoming infill drilling program on the Mubarek Field as a major opportunity for the Company and one that will lay the foundation for strong and sustained growth well into the future. The Mubarek Field has been in continuous production since the early 1970s and has produced in excess of 100 million barrels of oil. In its peak of production, the Mubarek Field was producing an estimated 60,000 barrels per day. Despite these impressive production totals, Sky Petroleum believes that this output represents only 30% of the estimated oil in place (STOIIP). Results obtained from Sky Petroleum's recent comprehensive field grid analysis and reservoir calculations support the Company's view of Mubarek's vast remaining reserve potential. Based on its analysis of the extensive data, Sky Petroleum considers its participation in the upcoming development on the Mubarek Field, a low-risk project that demonstrates the potential to be a major success story for the Company and its corporate stakeholders. As we prepare to enter this exciting phase in our development, I would like to thank all our valued financial backers for their continued support. I look forward to reporting back to you, on what we believe will be an exciting and fruitful year ahead.

Antes de unirse a Sky Petroleum, Inc. Noonan trabajo como alto directivo en Integrated Electrical Services, una empresa de servicios electricos de 1400 millones de dolares y en Sterling Chemicals, una empresa fabricante de productos quimicos basicos valorada en 1000 millones de dolares. Su experiencia es el resultado de su trabajo en varios organismos publicos en las principales bolsas del mundo: NYSE, Nasdaq y AMEX. El senor Noonan forma parte del National Investor Relations Institute (NIRI) y ha sido presidente del grupo de Houston de NIRI, asi como becario de NIRI en la Universidad de Michigan. Realizo un Master en Direccion de Empresas en la Athabasca University de Alberta, Canada, asi como una licenciatura en Administracion de Empresas y Economicas en la Simon Fraser University de Columbia Britanica, Canada. En la actualidad realiza un doctorado en Derecho en la Concord University School of Law.

Shafiq Ur Rahman Manager of Finance and Administration. Shafiq Ur Rahman, age 56, is our Manager of Finance and Administration. Mr. Rahman has more than 30 years experience in the oil and gas industry. Prior to joining the company he served as Chief Accountant and Director of Finance and Administration for several companies, including in the past, Huston Oil and Minerals, Tenneco Oil, Lundin Oil (formerly International Petroleum Inc.), Arabex Petroleum, and Coplex Resources. From 1993-2003 Mr. Rahman worked as Chief Accountant to Resource Petrochemical Consultants. From October 2003- December 2005, Mr. Rahman was employed by Tanganyika Oil Company as Chief Accountant for its subsidiary Dublin International Petroleum (Syria). Mr. Rahman took an extended vacation prior to joining us on a part-time basis in February and full-time beginning in May of 2006. Mr. Rahman's global experience includes working in various countries in the Middle East, North and West Africa, and Asia. Mr. Rahman has a Bachelor in Commerce degree from Karachi University.

Sky Petroleum Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Sky Petroleum Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Sky Petroleum Inc. or its management. Sky Petroleum Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

Nigel R. McCue - Director. Mr. McCue, age 56, has over thirty years experience in the upstream sector of the petroleum industry. He is a Director and Chief Executive Officer of Jura Energy Corporation (appointed April 2006, current), a company listed on the Toronto Stock Exchange. He is a Director of Nemmoco Petroleum Limited (appointed April 2001, current), a private exploration and production company with interests located principally in Central and Eastern Europe. Prior to this he was a Director and Chief Financial Officer of Lundin Oil AB, a company with interests in over twenty countries with specific experience in mergers and acquisition, equity, corporate and project debt finance, and stock exchange listings. Prior to this, he held various positions with Chevron Overseas Inc. and Gulf Oil Corporation. Mr. McCue is a Non-Executive Director of Dragon Oil Plc (appointed April 2002, current) and is chairman of its audit committee and a member of its remuneration and nomination committees. He is also a Non-Executive Director of Lamprell plc. (appointed July 2006, current) and is chairman of its audit committee and a member of its remuneration and nomination committees.