Company Calvalley Petroleum Inc.

Calvalley Petroleum Inc. (Calvalley) is a Canada-based oil and gas exploration company. Calvalley's principal business is oil and gas exploration, development and production of its approximate 50% working interest in the Malik Block concession (Block 9) in Yemen. The Company has the right to explore for and to produce oil and natural gas in Block 9 in the Shabwah or Hadramut region of central Yemen. Calvalley has approximately 11,062 thousand barrels of net total proved plus probable oil reserves, including around 8,658 thousand barrels of net total proved plus probable oil reserves of light and medium oil, and approximately 2,404 thousand barrels of net total proved plus probable oil reserves of heavy oil. Calvalley has two direct wholly owned subsidiaries, Calvalley Energy Limited and Calvalley Petroleum (UK) Limited, and one indirect wholly owned subsidiary, Calvalley Petroleum (Cyprus) Limited.