Transportadora de Gas del Perú, the concessionaire in charge of transporting natural gas and natural gas liquids from Camisea through a pipeline network, began expanding the natural gas transportation system on the coast by installing an additional pipeline that is approximately 107 km. long and building a Compression Plant in the locality of Chiquintirca, Ayacucho.

True Energy Inc. and North American Vanadium Inc. reached an agreement to transfer to Petrominerales Ltd. the full participating interest held by True Energy Inc. and 45% of the participating interest held by North American Vanadium Inc. in the license contract for the exploration and exploitation of hydrocarbons in Block 126. These agreements will result in the negotiation and signing of the respective amendment to the contract, with the buyer, through its subsidiary Petrominerales Perú S.A., which will become the operator of Block 126. North American Vanadium Inc. has changed its name to Veraz Petroleum Peru S.A.

Perenco Peru Limited, Sucursal del Perú (a subsidiary of Perenco S.A. of France) and SubAndean E&P Peru, LLC, Sucursal del Perú (a subsidiary partially owned by Citigroup Venture Capitals) reached an agreement to transfer to the latter a 50% participating interest in the license contract for the exploration and exploitation of hydrocarbons in Block 121. The Supreme Decree which authorizes the assignment and modification of the License Contract is still pending issuance.

GNC Energía Perú (a consortium made up of Socma and Petroperú) officially opened the first Compressed Natural Gas Plant in Peru. The plant required an estimated investment of US$ 12 million and has an initial installed capacity of 96.000 cubic meters to supply gas to service stations and industries within a radius of 350 km.

The government of Peru entered into a 30-year natural gas transportation concession agreement with Kuntur Transportadora de Gas (controlled by a private investment firm in New Work, Conduit Capital Partners, LLC.) for the design, construction, and operation of the Southern Andean Pipeline. The gas pipeline, the initial cost of which stands at US$ 1.350 billion, will carry natural gas from some deposits located in the Cusco Region (in the southeastern Peruvian Jungle) to the ports of Matarani and Ilo (on the Peruvian coast).

Transportadora de Gas del Perú (TGP), the company which was awarded the concession for the transportation of natural gas from Camisea through a pipeline network, obtained a US$ 150 million loan from Banco de Crédito del Perú, the French bank Natixis, and the Andean Promotion Corporation (Corporación Andina de Fomento -CAF). This loan was granted for the expansion of its facilities.

Perenco Peru Limited, Sucursal del Perú (a subsidiary of Perenco S.A. of France) bought for an undisclosed amount the full participating interest of Barrett Resources LLC, Sucursal del Perú, an oil company which operated Blocks 67, 121 and 125 in the northeastern Peruvian Jungle under license contracts with Perupetro S.A..

Perenco Peru Limited, Sucursal del Perú (a subsidiary of Perenco S.A. of France) agreed to invest US$ 1 billion in the development and start-up of heavy oil reserves in Block 67, located in the northern Peruvian jungle. The subsidiary of the French oil company Perenco S.A. entered into an agreement with Proinversión, the government agency in charge of promoting investments in Peru.

Barrett Resources LLC, Sucursal del Perú, declared having made a commercial hydrocarbon discovery in Block 67, located in the northeastern Peruvian Jungle.

Occidental Petrolera del Peru LLC, holder of a 50% and 40% participating interest in the license contracts for the exploration and exploitation of hydrocarbons in blocks 64 and 103, respectively, and operator of both blocks, was bought by Talisman (Perú) Ltd., and transferred 25% of its participating interest in Block 54 to Hess Peru Inc. Occidental changed its name to Talisman Petrolera del Peru LLC.

Occidental Oil & Gas of Peru LLC negotiated and signed with Perupetro S.A. a license contract for the exploration and exploitation of hydrocarbons in Block 142, located in the Marañon basin.

The Canadian companies True Energy Inc. and North American Vanadium Inc. negotiated and signed with Perupetro S.A. a license contract for the exploration and exploitation of hydrocarbons in Block 126.

The Maple Gas Corporation del Peru and Maple Production del Peru transformed and reorganized their Peruvian branches in order for Maple Gas Corporation del Perú S.R.L. to become the titleholder of the license contract for the exploration and exploitation of hydrocarbons in Block 31-E, and of the license contract for the exploitation of hydrocarbons in blocks 31-B and 31-C.

The Maple Group listed its shares on the London Alternative Investment Market (AIM).

The Argentine group SOCMA incorporated a Peruvian subsidiary in association with the State oil company PETROPERU, to develop a virtual network aimed at distributing natural gas in remote areas.

Legal counsel to Ashmore Energy / Promigas in the successful acquisition of Gas Natural de Lima y Callao, the natural gas distributor in Lima and Callao.

Peruvian counsel for Hunt Oil Company (Peru LNG) regarding the installation of a LNG Plant for the Camisea gas, including formulation of proposed legislation, negotiation with government authorities and comprehensive legal advice on all areas of Peruvian Law (2004).

Advise to Transportadora de Gas Del Peru (TGP) and direct participation in the negotiation of 2,327 rights-of- way agreements for more than 700 Km of gas and liquids pipelines from the Camisea fields to the city of Lima.

Local counsel for Petrobras on the acquisition of Perez Companc.

Advise to Olympic Peru in the negotiation of a gas take or pay contract with Austral Group S.A., in northern Peru.

Negotiation of the License Contract for Block 31-E between Maple Production Company and Perupetro S.A.