Ann: Alameda-1 Drilling Update, page-14

Melbana Energy’s Executive Chairman, Andrew Purcell, commented: “This is a very exciting
result. The Alameda 1 well has intersected a significant net thickness of log-interpreted oil pay in
the upper part of the secondary objective for the well, even while using conservative input
parameters. Further, additional oil pay may exist in other zones which displayed good oil and gas
shows while drilling but which did not yield viable log data due to poor hole conditions.

Still no primary target hit? good oil shows prior nonetheless!