Exploration and Production

Blackstairs continues to identify exploration and production opportunities - our new business focus is primarily in Africa and greater Eastern Europe. The company aims to develop strong joint-venture partnerships and target areas offering significant growth potential under reasonable licencing and commercial terms. The Company has recently agreed a Memorandum of Understanding with Pakistan Petroleum Limited and this agreement will facilitate the evaluation of appropriate assets. A bid was submitted in 2009 for a very large exploration block, located onshore West Africa. The company is also interested in corporate acquisitions -particularly those with an attractive mix of exploration and producing assets.