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ann ASX Release 2 January 2007

WIRRAWAY-1 AND WILPINNIE-4 (TOMCAT JURASSIC PROSPECT) UPDATE.

Impress Energy is pleased to provide the following update on Wirraway-1 and Wilpinnie-4 (Tomcat
Jurassic Prospect).

Due to rain in the Cooper Basin region the drilling of Wirraway-1 in PEL 104 has been delayed.
Once the roads have dried out sufficiently for the movement of heavy vehicles it is anticipated the
Wirraway-1 will be able to spud around mid January should there be no further rain.

Operations around the Wilipinine-4 (Tomcat Prospect) have not been impacted to the same degree
by the weather. The latest information from Santos, who will be operating the well on behalf of the
PEL 115 Joint Venture, is that a spud date will be in early to mid January.

The PEL 104 and PEL 115 Joint Ventures consists of:
Victoria Petroleum N.L. (Operator) 40%
Impress Energy 40%
Roma Petroleum N.L. 20%


For further information, please contact Eddy Buckovic, CEO on (08) 9214 2500
or at [email protected]