As we prepare for the application of Wessex Exploration
Limited (“Wessex”) to trade its ordinary shares on the PLUS market, I am pleased to offer an
overview of Wessex and its material holdings in several UK and
international hydrocarbon projects.
Wessex was formed in the mid eighties to explore the Wessex
and Weald Basins of southern England at a time when the prolific Sherwood Sandstone reservoir had just been discovered in
the giant Wytch Farm oil field and smaller oil and gas discoveries were being made in the Weald Basin. Wessex completed a
regional geological study of these basins and concluded that the complexity of the stratigraphy, structure and geological
history of the basins required a careful, disciplined and highly technical approach to hydrocarbon exploration and that additional
significant hydrocarbon potential remained in place.Wessex, having the technical resources to accomplish such disciplined exploration applied for and was awarded Petroleum Exploration
and Development Licence PEDL 089 in Hampshire, located along the coastline and approximately 10 kilometres from the eastern
end of Wytch Farm. Wessex subsequently applied for and was awarded “out of round” the immediately adjacent offshore
area P1153 also encompassing the Hurst Castle Prospect. In late 2008, as a result of the United Kingdom 13th Landward Bid
Round, Wessex was granted an interest in two new exploration licences on either side of the Hurst Castle prospect, PEDL 238
(southern Dorset) and PEDL 239 (Isle of Wight).Since that time, Wessex has also expanded into the international arena and has acquired
a portfolio of other exploration assets in Guyane, (formerly French Guiana), the Mozambique Channel, offshore from Madagascar
in the French territory of Juan de Nova and both offshore and onshore the Western Sahara of northwest Africa, all of which
are expanded upon within the following Review of Operations.The main guiding principles for Wessex in acquiring exploration acreage are:• the presence of a
proven petroleum system or at least, in an under-explored area, the presence of all the necessary components for same• the presence of one
or more oil majors in the same general area, exploring for what may result in significant new discoveries, thus adding value
to Wessex’s acreage• the presence of an anomalous or incomplete exploration cycle in the area, resulting from legal, access or
operational hurdles blocking normal exploration and development of the area of interestWessex has reached agreement with a private company, Osceola Hydrocarbons Limited (“Osceola”),
to acquire that company’s entire portfolio of non-US projects. In most cases Wessex already hold equity in these projects.The mechanics of the purchase
of these assets are as follows:• The project interests will be purchased from Osceola at cost +10%, to include all management
costs since the acquisition of the projects• A private placing of ordinary shares in Wessex raising circa £1,500,000 @
1.5p is being conducted. The funds raised will cover all acquisition costs and suffice for the current planned budget for
the remainder of 2009 and 2010• Following the placing an application for the ordinary shares of Wessex to be traded on PLUS
will be madeThe Company now has the basis of an attractive and highly prospective portfolio of moderate to high risk but high reward
projects on which the investment of new capital will help to add further value and unlock the potential of these assets.
Frederik E Dekker
Managing Director
June 2009
Contact: Frederik E. Dekker Managing Director 9
Albert Embankment, #69 London SE 1 7HD United Kingdom phone: 020-7582 7212 fax : 020-7582 7192 e-mail: fdekker@wt.net
Directors:
David Bramhill (Non-executive chairman) Frederik E. Dekker (Managing Director) Tim Heeley (Commercial Director Jan A. Dekker (Non-executive director)
Links:
U.S.A. office: 8704 Red Rio Drive, No. 201 Las Vegas, Nevada, 89128 U. S. A.
phone: (415) 339-0149 or (702) 360-4376 fax : (415) 339-0349; email:fdekker@wt.net