JHI Associates, Inc. ("JHI") and Mid-Atlantic Oil & Gas, Inc. ("MOGI") wish to 
clarify the details concerning the award of the Canje Block offshore Guyana in 
2015.  As a statement of record, the block was awarded on March 4, 2015, using 
the standard Guyana Model Production Agreement.  The Liza-1 well on the 
adjacent Starbroek Block was very high-risk and did not begin drilling until 
after the Canje Block licence was signed.  Prior to this, there were no 
discoveries anywhere offshore Guyana.  JHI and MOGI followed all applicable 
laws and regulations in their application for the licence for the Canje Block. 

Neither JHI nor MOGI has received any request for information, and neither 
company has been notified of any pending investigations into the award of the 
licence for the Canje Block. Both companies welcome the opportunity to discuss 
this matter with duly authorized agencies of the Government of Guyana at any 
time.

JHI and MOGI value our reputations as good corporate citizens and are committed 
to operating all aspects of our businesses in an open, cooperative and 
transparent manner.  We recognize the importance of this resource to the people 
of Guyana and take our responsibility to explore for oil and gas offshore 
Guyana very seriously.  

The founders of JHI, Mr. John Cullen, and MOGI, Dr. Edris K. Dookie, each have 
over 20 years' experience exploring for oil offshore Guyana as the original 
co-founders of CGX Energy.  Through CGX, they both served Guyana exceptionally, 
through the drilling of several offshore wells, and especially in relation to 
the pivotal role they played in the successful resolution of the maritime 
boundary dispute with Suriname. 

For the Canje Block licence application, Cullen and Dookie brought a technical 
team with over 130 years of offshore petroleum exploration experience, and 
significant financial capabilities based on prior successes in raising 
USD$100's of millions of dollars for oil and gas exploration projects in Guyana 
and elsewhere.  JHI's and MOGI's qualifications certainly met the Guyana 
Government's requirement that licence applicants must demonstrate technical 
expertise and financial capabilities.

Additional information regarding our technical expertise and financial 
capabilities can be found on our website www.jhiassociates.com.

Below is a timeline of events surrounding the Canje Licence:

    -- Negotiations for the Canje Block began in March 2013. 
    -- The Canje Block licence was awarded on March 4, 2015. 
    -- The Liza-1 well began drilling on March 5, 2015. On May 20, 2015, 
       the Liza-1 well was announced as a "significant discovery." 
    -- Over 40 wells had been drilled offshore in the Guyana-Suriname Basin 
       prior to Liza-1, and none encountered commercial quantities of oil 
       or gas.

For additional information, please visit our website at www.jhiassociates.com

SOURCE:  JHI Associates Inc.; Mid Atlantic Oil & Gas Inc