buru, page-16

from Khandaker Partners & Co , February 2007 report;

http://www.oilbasins.com.au/OBL_IC%20Feb07.pdf

(270 MMbbls of oil potential)

The company?s other property, the Blina Back Reef Joint Venture Area, also holds great promise. The acreage covers an area of 354 sq km in the Canning Basin and is estimated to hold prospective resources of 270 MMbbls of oil. The Blina Back Reef JV includes some parts of the highly
prospective Fitzroy trough and is near the Blina, Sundown and West terrace oil fields. This permit is also situated near an oil storage and transportation facility, the Blina oil hub, which may help the company reduce its transportation costs for this project. Another feather in the cap for Oil Basins is that ARC Energy Limited (ASX: ARQ) is in the process of taking over as the operator of the Blina Back Reef prospect. ARC?s financial strength and experience is likely to expedite the development of
the prospect. In fact, drilling is expected to commence in 2Q 2007.