Ann: Investor Presentation March 20 2012 , page-9

The banambu deep prospect is very close to the banambu-1 prospect drilled by Woodside in 1998. They have reprocessed existing seismic and combined with new seismic and obviously have the benefit of existing banambu-1 results. To re-drill so close to existing well must mean that seismic results have highlighted significant opportunity to promote this drill over Caterina. This is very good news IMO.

Did you notice both banambu deep and Caterina prospects were both in red. Looks like they are both regarded as very good prospects. Caterina was being identified as the drill up until today.

Distance from existing production facilities may be the other influence. Woodside are after more gas for LNG.

Report from banambu-1 well is below:

Banambu 1 (1998) was drilled by Woodside Offshore Petroleum Pty Ltd to a TD of 4001 m in 295 m of water. The primary objective was Early Jurassic to Triassic reservoirs in a large upthrown fault block on the Brigadier Trend. Good quality reservoirs were intersected in the North Rankin, Brigadier and Mungaroo formations, but no hydrocarbon shows were encountered. GOI™ studies gave results = 0.1 %.