Petrolium Oil Alliance Enters into JV with Mauritania

Tuesday, December 2, 2008

Petrolium Oil Alliance Inc. and its subsidiary PetrOil Inc., have entered into negotiations with the government of Mauritania to enter the country’s petroleum industry. The talks with Mauritania are part of the company’s continuing plan of expansion within Africa.

Wadah Richad Kilani, President of Petrolium Oil Alliance Inc. and his corporate team of advisors attended high level meetings held on Nov 4, 2008 with Minister Ba Houdou of the Ministry of Promotion in Investments, Mr. Hamadi Ould Baba Ouild Hamadi the Charge de Mission and other Ministry officials. Meetings were also held with the Ministry of Petroleum and Energy with Minister Mohamed Salem Boidaha and Cheikhna Ould Ahmed Ould Elyass the Le Secretaire General. At this meeting various forms of Petrolium Oil Alliance Inc. participation were discussed and existing plotted sites were analyzed with the Geology Division of the Ministere de L’Industry et des Mines.

Many points of common interest were discussed during a meeting with the state-owned oil company known as SMH, and the decision was taken to form a Joint Venture (JV) between SMH and Petrolium Oil Alliance Inc. to move onshore and offshore exploration forward.

On another note, Kilani was appointed Honorary Council of the Islamic Republic of Mauritania.

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