SAND HILL PETROLEUM B.V.

Sand Hill Petroleum BV, a newly-formed oil and gas E&P company with subsidiaries in Budapest, Hungary and Bucharest, Romania. The company is focused on the Pannonian Basin in Hungary and Romania. Sand Hill Petroleum BV plans to apply modern North American exploration technology — including advanced 3D seismic acquisition and processing — to mature onshore areas with the goal of identifying overlooked conventional resources, predominantly natural gas. Following an initial exploration phase, the company is developing its discoveries into producing reserves and continuing to explore in further licenses. The company is led by an experienced management team with extensive knowledge of the fundamentals of hydrocarbon exploration and the business environment of the European Continent.