update out

Kennedy #1H Well
Adelphi Energy Limited advises that at 6am Texas time on 30 October the Kennedy-1
exploration well had reached a measured depth of 14,664 feet (4,469 metres). The
planned measured depth of this well is 17,570 feet.
Drilling progress during the week was affected by the need to replace parts of the
bottom hole assembly and to re-log the well for correlation and steering purposes. Drilling
is expected to re-commence shortly.
Background gas levels whilst drilling in the Austin Chalk upper target zone have
increased from our last report and are mostly in the range of 40 to 300 units. The
commercial significance of the gas background readings whilst encouraging will not be
known until testing operations are completed.
Sugarloaf-1 Well
Since our last report flow test operations of the lower most Austin Chalk interval were
completed and current operations are to prepare the well bore for the acquisition of
post frac logs. The forward program and timing in relation to testing the other remaining
Austin Chalk zones in this well will be made pending a full assessment of the logs and flow
test results.
Adelphi, through its wholly owned US subsidiary Adelphi Energy Texas, Inc., has a 20%
interest in the Sugarloaf Project which includes the Sugarloaf-1 and Kennedy #1H wells.
For further information please