Ann: Cooper Basin Project Update , page-9

Scoop. Yes, you are cautiously reading between the lines, as I am doing as well. The results on JOL1 are early interpretations. The 130 micro seismic events seems a small number in 3D to define the progressing fracture front. How precisely is the dip in the fracture shown and over what length? Could it possibly be a fault line instead? Most of the strata in the area appear to be near horizontal. Stimulating two fractures is probably just coincidental as initially they would be looking for general characteristics. It would be a separate project to systematically produce a number of fractures one at a time.

I notice that Rig 100 is scheduled finish two exploratory wells in the 'shallows' project by March next year after which it will proceed with HAB 4 and 5. The rig has been idle for nearly two years.

Juke