CONDOR ENERGY LIMITED — Capital/Financing Update 2009

Apr 5, 2009

Baraka Petroleum Limited

A.C.N. 112 893 491 A.B.N. 80 112 893 491 Level 1, 23 Richardson Street, SOUTH PERTH 6151 PO Box 255, SOUTH PERTH WA 6951 Tel +618 9486 7001 Fax +618 9486 7002 www.barakapetroleum.com

6 April 2009

EXECUTION OF LOAN AGREEMENT AND LEAD MANAGER MANDATE

Baraka Petroleum Limited (ASX: BKP; “Baraka” or the “Company”) is pleased to announce that it has executed formal agreements with Cervantes Corporation Limited (ASX: CVS; “Cervantes”) and Zurich Securities Pty Ltd (“Zurich”).

The agreements reflect the terms outlined in the Company’s announcement dated 5 March 2009.

In particular, Baraka has signed a Loan Agreement and a related charge document with Cervantes for Cervantes to immediately provide a loan of up to $100,000 to Baraka.

The Company has also signed a Lead Manager Agreement with Zurich whereby Zurich will act as lead manager for Baraka’s proposed capital raising of up to $2,000,000 at 0.2 cents per share, subject to Baraka shareholder approval.

Baraka is now preparing the necessary general meeting documentation to approve the proposed capital raising and the issue of securities outlined in the above agreements and expects to post the documents to shareholders shortly.

ends

For further information, please contact:

Max de Vietri Non-Executive Chairman Baraka Petroleum Limited Telephone: 08 9486 7001

Tony Veitch Non-Executive Director Baraka Petroleum Limited Telephone: 08 6436 1802