Sunset Pacific Petroleum Ltd. provided a corporate update on the Tunisian activities. As previously announced the Company was awarded the Tunisian Beni Khedache open exploration permit by decision of the Tunisian Comite Consultatif des Hydrocarbures ("CCH") meeting and which was confirmed by a ministerial order fax letter from the Tunisian Direction Generale de l'Energie ("DGE") to the Company copied to the CEO of the Tunisian State Oil Company, de l'Entreprise Tunisienne d'Activities Petrolieres ("ETAP"). This exploration permit award is subject to certain conditions including the provision by the Company of a bank guarantee in favour of DGE and a final association contract between the Company and ETAP. Any and all agreements remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX-V. The Company has met recently with the Tunisian Authorities namely, the Direction Generale des Hydrocarbures ("DGH") formerly called Direction Generale de l'Energie ("DGE") to prepare the exploration phase association contract with ETAP, the Tunisian State Oil Company. This association contract is expected to be for 5 years with another five (5) years of renewals based on the work program being completed. The Company will hold a 100%working interest during the exploration phase with ETAP having the right to back in up to 55% working interest on any commercial discovery field(s), paying their portion of the past and future costs. Any commercial field(s) would be subject to a separate 30 year concession agreement. As per the ministerial order, the Company must provide a suitable bank guarantee for the minimum work obligations for the exploration program. The Company is working with pending farmin partner to provide an acceptable bank guarantee and a contribution to the Company's past costs. Any and all agreements remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX-V.