Yet Another Drilling Schedule, page-2

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Weekly Drilling Report

Document date: Thu 08 Aug 2002 Published: Thu 08 Aug 2002 15:53:55
Document No: 147853 Document part: A
Market Flag: Y
Classification: Progress Report
QUEENSLAND GAS COMPANY LIMITED 2002-08-08 ASX-SIGNAL-G

HOMEX - Brisbane

+++++++++++++++++++++++++
CARLA #1 (CORE WELL) IN ATP 695P

SPUD DATE

25 July 2002

INTERESTS IN WELL

QGC (60%), Roma Petroleum NL (32%) and Victoria Petroleum NL (8%).

OBJECTIVE

The well will penetrate and core for desorption the Juandah coal
interval of the Walloon Coal Measures (comprising the Macalister,
Wambo, Iona and Argyle seams) and the Taroom coal interval
(comprising the Auburn, Bulwer and Condamine seams).

OPERATIONS

Carla #1 has reached a total depth (TD) of 637m. The hole is
currently being cleaned in preparation for logging which is expected
to commence this afternoon. Coring operations commenced on 27 July
2002 at a depth of 217m and continued to TD. A total of 40 coal
samples have been placed in canisters for desorption testing to
measure the gas content of the coal.

For further information contact:
Rob Crook Tele: 07 3012 8400
MANAGING DIRECTOR Fax: 07 3012 8411

Queensland Gas Company Limited Website: www.qgc.com.au