Our current focus is on accessing and developing upstream oil and gas opportunities with particular emphasis on the Netherlands and UK sectors of the North Sea. Cirrus now holds an extensive North Sea portfolio of both exploration and development interests in a total of twelve offshore blocks in the Dutch sector and eight non-operated exploration licences in the UK sector. Cirrus operates eleven of these blocks in the Netherlands. First gas production in The Netherlands was achieved with start-up of the M7-A Field in September 2009, followed shortly thereafter by the L8-D Field which commenced production in October 2009. These assets provide Cirrus with a growing cash flow base plus exciting exploration and development opportunities within its extensive Dutch and UK portfolios.

Cirrus trades on the TSX Venture exchange under the symbol “CYR”

Achievements

• Cirrus has built a substantial portfolio of exploration and development assets in the Dutch sector of the prolific Southern North Sea gas basin and in the UK sector of the Central and Northern North Sea.
• In The Netherlands, Cirrus currently holds operated interests in eleven blocks which contain two producing gas fields, M7-A and L8-D and one undeveloped gas field, M1-A. In addition, Cirrus holds a non-operated interest in a licence containing the undeveloped A15-A gas field.
• Development of the M7-A gas field (Cirrus operated, 42.75%) has been completed and production commenced on September 12, 2009.
• The L8-D Field (Cirrus operated, 25.5%) was successfully appraised by well L11-13 (later renamed as L11b-A06) which tested over 30 MMscf/d in February 2009. The L11b-A06 well commenced production on October 4, 2009 with further development wells planned for this field.
• Total gross area under licence in The Netherlands is 575,500 acres and in the UK is 477,200 acres.
• Independent reserve auditors (GLJ, August 31, 2008) have estimated Cirrus' total proved + probable reserves as 9.7 MMboe  (GLJ, August 31, 2009).