SOLICITOR AMONG INVESTORS IN ENERGY FIRM BLACKSTAIRS
by John Mulligan

The Irish Times
May 2, 2007 Wednesday

Well-known Dublin solicitor Stephen Miley is among a number of
investors in a new exploration company, Blackstairs Energy, that
has just signed a production sharing agreement with the government
of Armenia.

Headed by Gerry Sheehan, the former international exploration manager
and new ventures manager for Tullow Oil, Blackstairs Energy has
raised almost EUR 700,000 and is in the process of finalising a
partner to work with it on the Armenian blocks, which extend over
almost 14,000sq km.

The company intends to focus its oil and gas exploration work on
Europe, the Caucasia region and Africa.

It is currently evaluating additional prospects in Bulgaria and
Romania.

Another former Tullow Oil executive, Robert Hamilton, who was employed
as its group financial controller until 2000, is taking up a position
as Blackstairs’ finance director. Mr Sheehan and Mr Hamilton have
jointly invested approximately EUR 340,000 in the new venture.

Mr Miley at one stage acted on behalf of property development firm
Jackson Way during the Flood tribunal, which was established to
investigate alleged planning corruption and other matters.

Mr Miley has invested almost EUR 25,000 in the new oil and gas company.

Other investors in Blackstairs Energy include Michael Combes, a
UK-based oil and gas specialist, and Chile-based businessman Ian
Raleigh.

Mr Sheehan said he hopes that a comprehensive programme of geological
and seismic studies will begin on Blackstairs Energy’s blocks in
Armenia within the next few months.