- BULGARIA DOMESTIC GAS PRODUCTION PROJECTED FOR 2011

- A GREAT OPPORTUNITY FOR DIVERSIFICATION

- TREMENDOUS IN-COUNTRY POTENTIAL

1

Testing of the Deventci R1 Ozirovo Discovery

BULG

ARIA OVERVIEW

Overview of Direct Petroleum’s Projects in Bulgaria

2

Nine years of oil and gas exploration activities in Bulgaria on A-Lovech, Vratza West, and Aglen Blocks.

As a result of this activities, which included the use of DPE’s proprietary geophysical technology, DPE discovered the West Koynare gas/condensate field with its Devenci R1 exploration well. The Devenci R1 discovered not only a new field, but a new geological play never before evaluated in this area.

The newly discovered Hydrothermal Dolomite play is a significant world-wide reservoir type that has been proven productive in Bulgaria with DPE’s Deventci R1 discovery well.

The prognoses resources of natural gas only for the West Kojnare is 200-300 bcf

The existing potential resources for the both trends is over 1 tcf

BENEFITS TO

BULG

ARIA Direct Petroleum Projects - Benefits to Bulgaria

3

A successful development of DPE projects will provide strategic benefits to Bulgaria:

• Improve energy security, diversify Bulgaria’s energy supply;• Promote economic development, job creation;• Provide significant government revenue in the form of taxes and royalties;

More than $50,000,000 was invested for the exploration works;

Much more need to be invested for the development of this discovery.