Ann: LOCKYER DEEP-1 OPERATIONAL UPDATE, page-16

Possible next operational steps (my view only);

• Condition 12/1/4" hole.
• Run intermediate wireline logs, unless they have LWD (logging While Drilling) logs.
• Run and cement 9/5/8" casing.
• Wait on cement.
• Nipple up BOP's.
• Pressure test BOP's.
• Drill out casing shoe and drill about 10metres of new formation - Kockatea Shale.
• Run a formation integrity test.

If all this goes well

• Drill 8/1/2" resume drilling through.
• Dongara / Wagina (likely oil and gas shows - sands possibly tight).
• ASX announcement (??).
• Carynginia Formation.
• Irwin River Coal Measures (Likely oil and gas shows).
• Kingia / High Cliff Sandstone (BOOM??).
• and the onto Total Depth.

Timing for announcement on Kingia/HCSS outcome later this week of next week (my view only). Be nice to see a trading halt for both NWE and MIN......

Kind regards OldGeo