no looking back

It's all happening now.

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 24 JANUARY 2005
MULTI WELL DRILLING PROGRAM TO COMMENCE

Introduction
Carpenter Pacific Resources NL (ASX: CPC) is commencing an initial drilling and recompletion
program of up to nine wells at the Jefferson-McLeod Project (Texas) (30%)
and the Helper Project (Utah) (72.5%). The program is scheduled to commence in the
next two weeks.

The details are as follows:
Jefferson-McLeod Project (30%)

Background
The Jefferson-McLeod Project is a re-development of the large Rodessa Field, and other
reservoirs in the area (Petit, Travis Peak, Cotton Valley and Bossier) located in the NE
corner of Texas. The Rodessa Field has cumulative production of some 390 million
barrels of oil (“mmbbl”) and 2.5 trillion cubic feet (“tcf”) of gas.
The Rodessa Field was first discovered in 1930 with most production occurring prior to
1960. Historical production occurred against the background of low gas prices (typically
less than US$0.20 per thousand cubic feet (“mcf”)) when oil was the primary focus and
gas was of little commercial value.



There's more on the ASX site but the graph didn't print so I will leave you to go further if you are interested. M.