Cygam currently holds various interests in five exploratory concessions in Italy and four exploratory concessions in Tunisia encompassing 3.5 million gross acres (approximately 1.8 million net acres), and has an interest in oil and gas producing properties in Alberta, Canada.

Cygam Energy Inc., is conducting international exploration activities in Italy through its wholly-owned subsidiary, Vega Oil S.p.A. ("Vega"), and in Tunisia through its other wholly-owned subsidiary, Rigo Oil Company Limited ("Rigo"). Management decided to focus initially on these two countries because of their excellent exploration potential and also because of their political stability and proximity to the vast European market. Other international opportunities, especially in circum-Mediterranean countries, may be considered in the future.

Cygam's goal is to create shareholder value through the acquisition of new permits and the exploration and development of oil and gas properties, primarily in Italy and Tunisia. Over time, the Company intends to acquire an interest in over one dozen exploratory prospects in order to increase the chances of finding significant oil and gas fields.

Our exploration team has substantial experience internationally, particularly in Italy and Tunisia. Eight of the nine projects we are currently involved in have been generated internally and we will continue to submit applications to various governments in order to acquire new exploration permits.