Thanks BKP management for what looks like weekly updates.Also...

Thanks BKP management for what looks like weekly updates.

Also looks like well might only take about 3 weeks to drill.

Better get in quick those considering to buy.

Copy of yesterdays Monza 1 update.

Media Release
18 March 2008
Colombia Drilling Update: Monza-1 Exploration Well
Baraka Colombia Operations, a fully owned subsidiary of Baraka Petroleum Limited
(ASX: BKP, the “Company” or “Baraka”) in conjunction with the Operator Omega
Energy Colombia SA, and its Joint Venture partners, provides the following report on the
progress of the Monza-1 exploration well in the Chicuaco Block, Llanos Basin, Colombia.
Progress and Current Status:- As of 0600 hours Colombian Time on 17 March 2008,
the Monza-1 exploration well was drilling ahead at a depth of 2,058 feet (627.3 metres).
Since spudding on 10 March 2008, a 12 ¼” hole was drilled to 550 feet (167.6 metres),
95/8” surface casing was run and cemented, the BOP (blowout preventor) was installed
and tested and drilling of the 8½” hole section commenced. Operational activity is
currently running ahead of schedule.
Total Depth:- The well is planned to be drilled to a total depth of approximately 5000 feet
(1524 m).
The Monza-1 exploration well is being drilled by the Pexin 6 drill rig and is the first well in a
two firm and one contingent well programme in the Chicuaco Block.
Joint Venture participants in the Monza-1 well on the Chicuaco block are:
Omega Energy Colombia SA (Operator) 63%
Baraka Colombia Operations 20%
Trayectoria Oil & Gas 10%
TC Oil & Services SA 7%
Dr. Mark W. Fenton
Managing Director & CEO
Ends
For further information, please contact:
Dean Richardson, Commercial Manager
Baraka Petroleum Limited
Tel: 08 94267914
Em: [email protected]
Website: www.barakapetroleum.com