Ann: 11.02.07 Amadeus Basin Unconventional Indepe, page-11

re: Ann: 11.02.07 Amadeus Basin Unconventiona... Psi81,

I was chatting to an Oil guy about the contents of the report, and I was corrected when I said that only 100 mill barrels would be recoverable. Apparrently it would eb possible to recover 0.224 Bn bbls of oil.

So I suppose that supports what you said earlier that the project is too big for CTP and we need a big player to make it all happen.

Nice to be compared to the Bakken though. Apperently from what I am informed the numbers quoted already have recovery factors built in to them so each of the numbers quoted are 100% recoverable, they are saying that at the mean prospective recoverable resources level we can expect to suck 1 bn bbls of oil and 26 tcfg out of the ground.

At the high estimate or P10 estimate level we can expect to suck out 2.3 Bn bbls and 54 tcfg; at the most conservative probability level we can expect to 6 tcfg and 0.224 Bn bbls of oil as set out below.

Are you aware that some shale plays in the USA are showing above 70% recovery for gas with mid life workovers and refraccing and completion.

All sounds promising, if we can sign up the right JV partner.

Money and lots of it will be the key along with the right partner.

CB