Equator Exploration Receives Unsolicited Offer

Thursday, November 16, 2006

Equator Exploration Ltd. has today confirmed that it received an unsolicited proposal regarding a possible offer for the company. The board is in the process of considering the merits of the offer and will give an update to shareholders in due course.

Equator Exploration Ltd. engages in the exploration and development of oil and gas projects in highly prospective West Africa. Equator’s objective is to build a diversified portfolio of exploration, appraisal, and production assets in the region. The company has exploration interests in the territorial waters of Nigeria and of Sao Tome and Principe as well as in the Joint Development Zone between the two countries.

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