Ann: Annual Report, page-10

INTERPOSE HOLDINGS LIMITED
Interpose Holdings Limited – ACN 150 956 773
www.interposeholdings.com
50 Ord Street, West Perth, WA 6005
T: +61 (0) 8 9467 4220
ASX ANNOUNCEMENT
28 July 2017
June 2017 Quarterly
Interpose Holdings Limited (ASX:IHS) is pleased to provide an update of its activities for the quarter
ending 30th June 2017.

Gallatin Gas-Condensate Project
On 21 February 2017, the Rogers Drilling rig spud the Christine Keahey #1 well (CK#1 well). On 15
March, the Company announced that Baker Hughes had completed logging of Christine Keahey #1
well. Analysis revealed a narrower than expected Petit formation section with low porosity (< 6%).As
a result, the decision was made to plug and abandon the well.
After the abandonment of the CK#1 well the company has elected to participate in further leasing of
acreage to the east of the CK#1 well in the belief that the productive Pettit bar is east of the number
1 well location. As a result, an additional 95 acres have been leased by the working interest group.
The next well location has been staked and drill site title opinion is underway. It is expected that the
second well at the project will be spudded in mid-September.
The company has continued its due-diligence process on additional onshore US exploration and
development plays with a focus on low cost, low risk conventional projects.
About the Gallatin Project
The Gallatin gas/condensate project is located in central Cherokee County, in the southern portion of
the East Texas Basin from BMNW Resources LLC of Dallas Texas. BMNW are an accomplished
geological group and the generator of the Gallatin Project. The project tested the possibility of a
potentially productive section of the Pettit formation that lies across the prospect area, and is
operated by F.W Rabalais Inc from Fort Worth, Texas.
This same formation produces at approximately 9,000 feet from the Anne Field (discovered in 2010)
and Buffkin Field (discovered in 2009) which lie directly to the south-east of the Gallatin Prospect.
Wells in these fields produce from 6-10ft zones with 18% porosity at rates up to 1.3 mmcfpd and 15
bopd.