Friday, March 23, 2007

EastCoast Energy Corporation

The BVI company changed its name to Orca Exploration Group Inc.

Industry: Mining

Main business locations: East Africa

Registered Office:
PO Box 3152
Road Town
British Virgin Islands

Incorporation date: August 31, 2004

Listed on: Toronto Stock Exchange
Ticker: ECE.A ; ECE.B

Financial highlights:
Total Assets: (2005) USD 21,097,000
Shareholder’s equity: (2005) USD 16,662,000
Total Revenue: (2005) USD 5,759,000
Profit before taxation: (2005) USD 953,000

PAE PanAfrican Energy Corporation (company registered in Mauritius)
PanAfrican Energy Tanzania Limited (company registered in Jersey)

Auditors: KPMG

Lawyers: Burnet, Duckworth & Palmer LLP

About the BVI company:

EastCoast Energy Corporation is an international company focused on the development and marketing of natural gas in East Africa. It is an independent publicly traded company with head office in Dar es Salaam in Tanzania. The company came into existence in August 2004, following approval by PanOcean shareholders and the various regulatory agencies involved.

Since 1994, EastCoast Energy Corporation operates the Songo Songo gas field – the first natural gas development in Tanzania. Also, EastCoast distributes natural gas to industrial customers in the Dar es Salaam area, and is working to create larger markets for gas production from Songo Songo in Tanzania.

With the purpose to build markets for natural gas sales in East Africa, PanOcean Energy Corporation acquired an interest in the Songo Songo offshore natural gas properties, attracted industrial partners to the project, facilitated the financing of the project by a consortium of multi-lateral lending agencies led by the World Bank. At Dar es Salaam, EastCoast is operating a 22 km distribution system to deliver natural gas to industrial users.

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