Sky Petroleum to Receive $1.1 Million From Mubarek Well Production

Sky Petroleum, Inc. (OTCBB: SKPI), an oil and gas company, is pleased to announce the company will receive USD 1,140,470 from its second allocation of production revenue from the Mubarek H2 well. This revenue will be received by the end of January 2007, or approximately 40 days from the second lifting of crude from the H2 well, which occurred on December 16, 2006. The H2 well has produced 62,212 barrels of oil as at December 30, 2006 since it went into production on May 16, 2006.