Dr. Dinh signed the PSC for Vietnam Blocks 102 and 106 in January 2000.  We then entered farm-in agreements with Petronas Carigali (Petronas) and Singapore Petroleum (SPC) before the first exploratory well was drilled. Under the farm-in agreements, over the last 5 years, our operating partnership with Petronas and SPC has spent over $70 million on exploration work in Blocks 102 and 106.  As of September 2007 operating partnership with Petronas and SPC have drilled three exploratory wells and discovered two new oil and gas fields.

PREVIOUS EXPLORATION

Tataouine has previously been held by a number of companies (SEREPT, MOBIL, CONOCO, UNIION TEXAS and PECTEN). The seismic coverage in the block totals 3,600 km forming 2x2 to 5x5 km grids to the East and a looser grid to the West.

PETROLEUM POTENTIAL

Reservoirs and Seals have been proven by the wells drilled in the area:

Proved reservoirs

1.     The Ordovician sandstones form main targets in the block, varying from grey to white, medium-coarse to coarse (Bir Ben Tartar Formation). The primary porosity varies between 5 and 12% that could be substantially enhanced by fracturing. This reservoir tested oil in SABN-1; gas with condensate in OZ-1, LA-2 an FNG-1 and revealed hydrocarbon shows in ST-1, MER-1 and LG-1 wells.
The seal is provided by the upper Ordovician and the Silurian shales. 

2.     Silurian: The upper Silurian section contains fine-grained sand bodies which constitute a target in the block. This reservoir tested oil in the Tigi field in Lybia.

3.     Permian: sandstones yielded oil and gas shows in the LG wells, and gas shows in the J1 and ST2 wells, with an average porosity of 9%.

Potential reservoirs

1.      Carboniferous: carbonates tested oil and gas in LG wells.

2.      Triassic: the Triassic sandstone reservoir outcrops in the northern part of the block and might be flushed. However, the Upper Triassic Azizia carbonate in the western part of the block showed some oil in the J-1 well.

Source rocks:

1.      A prolific source rock is provided by the Silurian shale. It ranges between 50 and 130 m in thickness and from 4 to 7% in TOC. In terms of maturation it is now in the oil window (RO: 0,6 to 0,93).

2.      Ordovician black shale is considered to be potential source rock in the block.

3.      Carboniferous black shale and black organic rich carbonate can be considered as a source rock, with its TOC ranging between 0.9 to 2.1 %.

4.      The Permian section overlying the reefal dolomite contains up to 2.7% TOC.

5.      The Permian and Carboniferous source beds are located only in the northern part of the block.

ATI Petroleum wins two major uranium blocks, prepares for exploration of uranium assets in Niger. 

Paris, October 3, 2007, ATI Petroleum Ltd. (ATIP), an exploration and production company in petroleum and uranium properties, will begin exploration in its Tassedet blocks this year. 

The Company's licenses are for Tassedet Blocks 3 and 4, which encompass a total of 1,973.4 sq. km. (487,638 acres) in Niger's Tim Mersosî basin. These ATIP properties are flanked on the south and east by exploration and development blocks controlled by some of the largest uranium concerns in the world: Areva, Rio Tinto, and China Nuclear. 

ATIP management's negotiations with a major producer as partner are proceeding quickly, according to Dr. Huu Duc Dinh, ATIP Chairman and CEO. "We expect to bring them on board quickly and starting the exploration phase by the end of the year," said Dinh. 

Niger is fourth in the world in uranium production and proven reserves. However, based on Ministry of Mining statistics, only 10% of the country's territory has been surveyed and subjected to reserve calculations. With 90% of the country left to survey, a reasonable trend is that the country may have the largest reserves in the world. The result is that there will be a long-term demand for nuclear fuel. 

With the current decline of fossil fuel as an energy source, and with the advent of global warming, alternative energy sources are not large enough for a commercial scale of production that can support the world's growing economies. The only exception to this is nuclear power, now that the industry has reached technical and cost maturity. ATIP is a unique company that provides a bridge of clean energy resource solutions for the future, combining oil and gas with uranium to help ensure the steady growth of the world's economy. 

Business Strategy: 

ATIP business strategy is to acquire critical energy resource properties on advantageous terms, and to hold, explore, develop, operate and manage those properties through partnerships, joint ventures and strategic relationships with other development companies.” 

Oil

The majority of Cote d'Ivoire's oil wells are located offshore.

Production 

Cote d'Ivoire's oil production is near in 100,000 bbl/d in 2006. New fields coming online, as well as field enhancement work allowed for the increasing oil production. Production is forecast to increase slightly over the next 2-year period, with the possibility of reaching 110,000 bbl/d by 2008. According to estimates by Oil and Gas Journal (OGJ), Cote d'Ivoire had  several hundred  million barrels of proven crude oil reserves as of January 2007. The vast majority of reserves are located offshore in shallow marine areas and in deep offshore waters where ATIP Block CI- 202 located. 

Natural Gas

Cote d'Ivoire primarily uses natural gas as feedstock for electricity production.

A substantial volume of 2D seismic data of various vintages is available within the acreage. Several wells have been drilled in the Saltpond Basin and many of them yielded Oil and Gas shows. The Saltpond Field has also been discovered and developed and is now producing Oil and Gas from Devonian sandstones on an uplifted fault block.

Previous work and studies done on the Basin indicate that the structural framework of the Basin is represented by a complex set of fault-bounded grabens and horst-related structures, which is associated with Transform Marginal Basins.
The principal fracture system that affected the evolution of the Basin is the Romanche fracture zone. Compressional tectonics is evidenced by the presence of gently rolling folds and by the number of thrust fault blocks structurally controlled by the underlying Precambrian basement.

Stratigraphically, the Saltpond Basin is located in a wide sedimentary wedge extending from Cote d'Ivoire to Nigeria. It is filled with thick sedimentary sequences ranging from Paleozoic prerift phase, Lower Cretaceous rifting phase to the less expressive Upper Cretaceous/Tertiary open marine phase.
The prospectivity of the Basin lies within tilted fault blocks, capped by a thick Jurassic dolemite unit that uncomformably overlies the Paleozoic sequence.

Hydrocarbons generated from matured Paleozoic shales are believed to have been trapped in Paleozoic sandstone reservoirs within tilted fault blocks.
ATI Petroleum's review of the prospects and already identified previous work/studies indicate a lot of potential drillable prospects. All the prospects identified in the Basin are based on the available 2D seismic data.

ATI Petroleum is very confident that with its well-planned work program, backed up by its financial and technical resources, coupled with the transparent fiscal regime of Ghana, the already identified leads/prospects and those yet to be identified would contain economic volumes to be developed and produced in the shallow waters of the Saltpond Basin.

Summary of exploration history

In the Congo Central Basin, two stratigraphical traps have produced oil, and one of two others yielded pyrobitumen.

Hydrocarbon exploration data by ESSO-TEXACO

Magnetic data: 6.000 km
Seismic: 3.180 km (CGG) (along rivers and routes)
Well data:
- Mbandaka 1 (TD 4.350m)

Traps: Many traps are expected to favor abundant structures and facies changes (figs 8, 9 & 10).

Press Release

Paris, September 6, 2007, ATI Petroleum, Ltd.

(ATIP), an exploration company in petroleum and uranium properties, is awarded the right to explore for and produce oil and gas in a block in the Congo Central Basin.

The Board of Directors of ATI Petroleum Ltd.

("ATIP" and the "Company") is pleased to announce that the Company has successfully negotiated exploration and development rights in the Republic of Congo's Central Basin. ATIP's dedicated Parisbased team, including Christophe Giovanetti and Benoit Chatel, and spearheaded by ATIP CEO Dr. Huu Duc Dinh, brought the extensive negotiations to a close for Block C1.

The ATIP delegation was received by the President of Congo, Joseph Kabila, and the Ministry of Energy and Mining. After a long series of negotiations, ATIP was able to obtain one of the most desirable blocks in the Central Basin. ATIP's special independent oil consultant had performed a technical evaluation that recommended Block C1 over any other available acquisitions.

ATIP is happy to obtain this concession because the Republic of Congo has been emerging as a new African frontier with significant oil assets. Recently, Total, for instance, has returned to Congo to enhance its original investment. The original exploration data on Block C1 were generated by Esso and Texaco.

Cambodian Onshore Petroleum Blocks 10 and 15: We have recently reached an agreement in principle with the Cambodian National Petroleum Authority relating to our offer to enter into a PSC for Block 10 and another for Block 15. The former includes approximately 1/3 of the Cambodian coast line beginning at Thai border; and the latter Lies on the northeastern flank of Lake Tonle Sap and is situated in a sedimentary basin. Under way is a preliminary assessment of petroleum potential of the blocks in terms of source, seal and reservoir via outcrops, seeps and other indicia.

Exploration Summary:

Thick, oil prone source rocks, excellent reservoirs and seals have been identified from numerous geophysical and geological studies. Confirmed has also been the availability of fault migration pathways from the kitchen to the traps.

The 2002 drilling in Sinapa has proven the existence of the petroleum system that had been predicted by Exxon for the salt basin.