Aurelian, the European focused E&P Company, provides the following operational update.

Highlights

June 2010 spud for first Siekierki horizontal well (Trzek-2). Processing Facility on track • wellsite almost complete. Other major drilling service contracts awarded. Fracture stimulation service currently being tendered • Processing Facility long lead items to be ordered in June 2010. • Environmental Impact Assessment and technical input for Planning Approval to be submitted June 2010 for September 2010 approval. • Construction Permit issued by year end allowing construction to start early 2011

Updated reservoir modelling of first Siekierki well supports CPR estimates • updated reservoir modelling of Trzek-2 indicates potential recovery per well at upper end of 16.5 to 28.6 bcf range estimated by Gaffney Cline & Associates ('GCA') in CPR where Aurelian was allocated a mid case contingent gas resource of 346 bcf.

Q4 2010 spud date for first high impact Carpathian Thrust Fold Belt well at Bieszczady • 2009 2D seismic programme identifies additional prospects to those identified in the CPR where Aurelian was allocated a mid case prospective oil resource of 89 mmbbls.

Three seismic surveys planned across Polish Core Areas in H2 2010 • Southern Permian Basin - 80km 2D in Kalisz. Up to 300km² 3D in Cybinka/ Torzym, • Carpathian Thrust Fold Belt - 150 km of 2D in East Karpaty to confirm drillable prospect where the CPR allocated Aurelian a mid case prospective oil resource of 236 mmbbls - post Strategic Partnership with PGNiG.

Appraisal of Voitinel/Solca trend in Romania • results of fracture of 1650 sand available week commencing 17th May with results of flow test from 1400 sand expected in June • 60km of 2D and testing of two Romgaz wells in adjacent block to assist assessment of 400bcf GIIP estimate. Romgaz joint development discussions may result.

Climauti-1 well in Suceava and 200 km of 2D across Bacau and Cuejdiu • Climauti-1 spuds later in May 2010, targeting 2bcf of recoverable gas and increasing Aurelian's forecast production by 18% • 2D survey targeting leads of 67 bcf and 92 bcf respectively in Bacau and Cuejdiu

Two well drilling programme in Q3 and Q4 2010 in B1- Golitza, Bulgaria • targeting 20-30 bcf - prospects at 1,500 metres in Q3 and 600 metres in Q4

Slovakia Seismic survey planned for H2 2010 • 150 km of new 2D seismic to be acquired to define a specific prospect for drilling in H2 2011. • Recent seismic processing and interpretation identifies a number of leads in addition to the Smilno exploration prospect where Aurelian was allocated a mid case prospective gas resource of 408 bcf in the CPR.

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