Ann: Cape Energy Update , page-14

Hi greystone,

"Working off two independent assessments, Wombat's value was put at $50 million to $88 million on a best estimate of Wombat's contingent resource base, or $81 million to $118 million on a high estimate basis."

http://business.theage.com.au/business/wombat-gas-field-could-yield-118m-20081029-5bhq.html

$50 million = 0.012cps
$88 million = 0.021 "
$81 million = 0.019 "
$118 million = 0.028 "

Furthermore, the independant assessments are only based on the shallow areas within the Wombat gas field. Deeper areas are also highly perspective and will be drilled after initial success.

PS: Tight gas resources have a high probability of success- don't discount recent improvements in fracture stimulation technology!

JB