starting to chug along, page-7

re: anyone go to the general meeting in perth? A very good meeting with representatives from brokers, research analysis people, instos , and large shareholders ....including a large one from UK .

Research reports to be done and posted to site EXR in 2 weeks approx.

Peter Strachan [stockanalysis] was there and very active , so should cover EXR very soon .

AIMS listing process going through now , with the capital raising with European Instutions , and should be finalised by approx mid April05.

Marquis well spud date of 1/7/05 comfirmed !!!!!!! Rig is comfirmed by complex charter process.

Negotiating with another firm who have another rig under full Charter for next 18 months , to farm into EXR wells proposed .

5 - 8/9 wells possible over next 2 years. Statistical success rate of 1-3 of the 8 being +ve, in the North Sea .

Jaguar well is said to be huge 500 - 700mmbbloe , with approx 400mmbbloe recoverable. Analysis of it is well advanced and looking very +ve . This is the star well .

Marquis is rated as low risk..... 1:2.8

Jaguar is rated as medium+ .... 1:3 to >1:5