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IMPRESS VENTURES LIMITED
Annual General Meeting
Tuesday 29th November 2005
Chairman’s Address
Impress is changing day by day, this past year has seen our company change
from a junior exploration company to an oil producing company.
We achieved this step by putting into production our Mirage and Ventura oil
discoveries. In addition we have just today seen an initial interpretation of the
recently acquired PEL 115 3D Seismic. We are further convinced that the results
of this seismic and the forthcoming exploration and development program will
see significant changes in Impress’s market profile.
This 3D seismic confirms not only confirms our earlier interpretation of the Mirage
discovery but indicates many more exciting targets in adjacent areas.
If the 2006 drill bit confirms our beliefs, this time next year you will certainly be
looking at a significantly changed company.
To provide the cement we need in laying our foundation stones it is our intention
within the next couple of months to gather together an experienced technical
team. We have taken this action because we believe with our increased
percentage in the Cooper Basin Joint Venture from 15% to 40% we have a
responsibility not only to our shareholders but our fellow joint venture partners to
provide our fair share of technical input so we all gain.
Not only as a director but also a shareholder I am looking forward to this coming
year.
Eddie Smith
Chairman
Following the conclusion of the agenda of the Annual General Meeting, I shall
ask Douglas Jendry to provide a comprehensive overview of the company’s
activities and plans.