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EP97 -Pedirka Basin Update, including Santos/ Central Petroleum Farm-in


Rawson Resources Ltd (ASX:RAW) is pleased to advise that the recently announced
Santos - Central Petroleum deal also includes the three blocks in EP97 which are under
farmin to Central Petroleum

.
Santos has agreed in principle to pay for the Central farmin in EP97, which would leave
Santos with 56%, Central 24% and Rawson 20% in the farmin blocks after earning

obligations have been completed, by the drilling of exploration wells on each of the
Simpson, Bejah and Pellinor blocks.

At present only the Simpson block has been drilled
.
Rawson retains the operatorship of the permit, which covers 11,000 square kilometres or
2.8 million acres,

and 100% interest in the remainder of EP 97, which also includes the
Dune, Colson and East Border farmin blocks, as shown in the attached figure below.


Three distinct petroleum “provinces” or plays with oil and gas prospectivity have been
delineated in EP97:



The first is for oil trapped in basal Poolawana sandstone reservoirs, similar to that from
which oil was produced from the Poolawana-1 well in nearby South Australia.


The second is for oil and gas trapped in the underlying Permian and Triassic sediments.
Significant hydrocarbon shows occurred throughout the Purni Formation of Permian age
in Colson-1 in EP97 and other nearby wells.

The Purni Formation is characterized by
coaly shales and coal seams, which are good potential oil source rocks, and similar in age
to the productive Patchawarra Formation in the Cooper Basin to the east.



A third and older sequence of Devonian to Cambrian age is considered to underlie the
Permian rocks throughout the western part of EP97. Central Petroleum has mapped some
reef-like features of this age in the Pellinor farm-in block.

Rawson considers this
sequence extends southwards to underlie the Colson block. Oil shows occurred at the top
of this sequence in the Colson-1 well.


An additional shallow hydrocarbon play could occur within the Oodnadatta Sandstone of
Lower Cretaceous age. This was intersected at depths of 700+m in the Simpson-1 well,
with extensive shows, but not covered by electric logs


Geochemical surveys run by
Rawson show anomalous geochemical levels over the Simpson-1 well, which may be
associated with live hydrocarbons in these shallow sands.