Sky Petroleum Updates Drilling Operations on Second Mubarak Well

Sky Petroleum, Inc. (OTCBB: SKPI), an oil and gas exploration company, is pleased to announce that Crescent Petroleum Company International Limited (‘Crescent’), the operator of the Mubarak Field, has informed the company that the Mubarak K2 ST3 well is currently drilling at a depth of approximately 10,500 feet. The Rani Woro drilling rig successfully cleaned out the casing on the existing K2 well and milled a window in the casing at a depth of 8,974 feet.