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June 5, 2007 - Participation on gas production in Colombia

Paris, France, June 5, 2007. . . GEOREX will exercise its right of carried interest through commerciality and participate with Texican Oil Plc. on the production of gas of the Compae field, in the Maracas Concession, Cesar Basin, Colombia. This participation offers also the possibility to maintain our interest on any additional development of the field.

The Meeting of the Board of February 22, 2007 authorized negotiations, to increase this participation above 5%. On the 3rd of May 2007 the Board of Directors of Georex approved the raise of the interest of Georex in the Maracas Concession with an additional 15%, bringing the total participation rate to 20%.