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Italy

In addition Oracle Energy Corp holds a 20% interest in the 358 sq km onshore Fiume Arrone Permit, Italy. The first well, Scheduled to be drilled October 2006, will target a gas prospect identified from seismic.

Peru

Oracle Energy also holds a 15% interest in an Evaluation Agreement to Promote (EAP) Area X111, located in the province of Maynas, Peru. Area X111 comprises 500,000 hectares within Peru's Maranon basin.
Oracle Energy Corp. is a junior energy company active in the exploration and development of oil and gas projects internationally.

Romania

The company holds a 20% interest in six oil and gas fields. Operations are currently underway at one of the fields called Nadlac, where the first gas well has been successfully re-worked. It is scheduled to be hooked up shortly. Initial tests on this well indicated gas and fluid produced at the following rates: 27/64-inch choke: 1,230 mcfd and 23 bcd (barrels of condensate per day) and 15/64-inch choke: 673 mcfd and 10 bcd. Re-work operations on a second well are soon to be underway.

Also at Nadlac, a 70 foot thick oil zone has been identified. Geological data indicates the oil zone is field wide encompassing 860 acres and may contain significant recoverable commercial oil reserves. Oracle Energy Corp. is an international energy company actively engaged in the development of 6 oil and gas fields in Romania with JV partner Carpathian Energy. Oracle holds a 20% interest in the six fields.Operations are currently underway at one of the fields called Nadlac, where the first gas well has been successfully re-worked. It is scheduled to be hooked up shortly. Initial tests on this well indicated gas and fluid produced at the following rates: 27/64-inch choke: 1,230 mcfd and 23 bcd (barrels of condensate per day) and 15/64-inch choke: 673 mcfd and 10 bcd. Re-work operations on a second well are soon to be underway.

Also at Nadlac, a 70 foot thick oil zone has been identified. Geological data indicates the oil zone is field wide encompassing 860 acres and may contain significant recoverable commercial oil reserves.

Oracle Energy Corp. also holds a 15% participating interest in Block 22, Yemen. It encompasses 8,151 square kilometers within the Tihama Basin in the western region of the Republic of Yemen. Reprocessing of seismic data over a prospect of interest is currently underway. Once this is completed and results interpreted, further exploration plans for Block 22 will be formulated.

In addition Oracle Energy Corp holds a 15% interest in the 358 sq km onshore Fiume Arrone Permit, Italy. The first well, Scheduled to be drilled October 2006, will target a gas prospect identified from seismic.

Oracle Energy also holds a 15% interest in an Evaluation Agreement to Promote (EAP) Area X111, located in the province of Maynas, Peru. Area X111 comprises 500,000 hectares within Peru's Maranon basin.

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