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AMERICAN PETRO-HUNTER has executed a Purchase and Sale Agreement with the vendors of the
“Sacramento Gas Project”. American Petro-Hunter has acquired a 25% working interest in the play. The project
is located west of Modesto in the Central Valley of California, near Sacramento. Potential Recoverable Reserves
have been calculated to be 42 BCF at a depth of 7,400 feet within sands that are indicated by 2D seismic to be in
excess of 50 feet of gross pay. Estimates by the play generator, a private third party engineering group are as
follows: If the pay zone is 100% gas filled and the well is brought into commercial production an IPR (initial
production rate) of 5,000 Mcf per day may be achieved. The Company would anticipate similar rates to
commercial wells in the region at analog fields that produce on a daily basis between 2,000 to 4,000 Mcf per day.
Natural Gas wells in these analog field’s are long lived, relatively stable rates of production and predictable
decline.