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    Present Depth at 0600 hrs: 2405mMD
    Time of Reporting: 0600 hrs, WST 13 December 2007
    Operations Since Last
    Report:
    Resumed drilling from 1224m on 7th December and have
    continued drilling with no problems to current depth of
    2405mMD in the Upper Laurel Clastics.
    Current Operations: Drilling ahead 216mm (8 ½�) hole to next target, Lower Laurel
    Clastics.
    Hydrocarbon indications: Elevated gas levels above background and associated minor oil
    shows in cuttings were detected whilst drilling interbedded
    sandstones and claystones of the Anderson Formation, and
    interbedded limestones, claystones and sandstones of the
    Fairfield Group. The significance of these indications will be
    determined once the well has reached total depth and wireline
    logging has been completed.
    Comment: The continuing presence of oil and gas shows in the well
    remains encouraging.
 
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