oil production commences in south australia

Congratulations.

ANN.
GROWLER OILFIELD COMMENCES PRODUCTION


We Have Now Reached a Major Milestone

Both Growler wells were opened to natural flow on 12 March and were flowing at a combined rate of
100 BOPD. The pumps will be installed over the next few days and once this work has been done
the production rate is expected to reach 300 BOPD.

etc...


Growler Extended Production Test (EPT)

The natural oil flow from Growler-1 & 2 marks the beginning of the EPT and is a significant step
forward for Impress. Based upon well data, initial gross production rates of 300 BOPD from the two
Growler wells is expected during the EPT period.
Information from our external consultants indicate the Growler Oilfield on its own, at a confidence
level of P50, contains 7.7 million barrels of oil in place, with an expected recovery of 1.6 million
barrels.

On confirmation from the EPT of the field’s productivity in the first quarter of 2008, it is Impress’
intention to suggest that the Joint Venture, as a priority, concentrate on the first phase of the Growler
Field Development by drilling further wells and developing facilities with the expectation of achieving
production levels 750 BOPD.