The Company’s primary objective with both ATPs is to establish a...

The Company’s primary objective with both ATPs is to establish a Permian gas play. The Company intends to drill two wells, one in each ATP, to test the Permian Deep Gas potential of tight sandstones within the Permian Kianga Formation (found at a depth of between 3,500 and 3,700 metres below ground level). If this play is successful, it may be able to arrest future coal seam gas supply shortfalls to the Gladstone liquified natural gas (LNG) plants