Consortium of NAMCOR, Petrolog and Sequa Petroleum selected by Sonangol E.P. as preferred bidder for certain production and exploration blocks in Angola

Sequa Petroleum N.V. (“Sequa”) is pleased to confirm that Sonangol E.P., following their public tender for the partial sale of their participating interests in several blocks of their portfolio, has selected the consortium of NAMCOR (the National Petroleum Corporation of Namibia), Petrolog (an African multinational) and Sequa as having presented the best proposals for production Block 15/06 (10% non-operated working interest), exploration Block 23 (40% working interest, operator) and exploration Block 27 (35% non-operated working interest).  There is no certainty as to whether or when agreement will be reached, and further announcements will be made as and when appropriate.

Jacob Broekhuijsen

Chief Executive Officer Sequa Petroleum N.V.