Madagascar Oil Limited is engaged in the exploration and development of heavy oil and conventional oil deposits on five contiguous onshore blocks in Madagascar. Madagascar Oil holds licenses in five blocks, representing an area of approximately 29,500 square kilometers (7.3 million acres). The Company�s 100% owned blocks include Tsimiroro, which covers 6,670 square kilometers of license area; Manambolo, which covers 3,995 square kilometers of license area; Morondava, which covers 6,825 square kilometers of license area, and Manandaza, which covers 6,580 square kilometers of license area. The Company has 40% interest in Bemolanga block, which covers 5,463 square kilometers of license area. During the year ended December 31, 2010, a total of 110 wells were drilled and 490 kilometers of electrical resistivity tomography were acquired in the shallow sands, and 880 square kilometers of GORE micro seepage survey was performed on deeper sands on seven deep prospects.