ann. growler 2 drilling report

http://aspect.comsec.com.au/asxdata/20070703/pdf/00735632.pdf

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Commenting on the drilling at Growler-2, Victoria Petroleum NL’s (Vicpet) Managing
Director John Kopcheff said:
“Victoria Petroleum is pleased to be drilling its first appraisal well on the Growler Oil Field.
With the test results to date for Growler-1, we are encouraged that good oil producing rates
are achievable from the Birkhead reservoir sands in this area.”
“The current production characteristics of the Birkhead oil sand if further confirmed by
Growler-2 could lead to a large development drilling program of the same style as the
successful Santos “Cooper Oil Project”, although it is early days yet for this area.”
“Exploration success at Growler and Wirraway maintains our 100% exploration success
rate in PEL 104 and further confirms our belief that a new Jurassic “Oil Fairway” and oil
production province with the potential for an in place oil reserve of up to 100+ million
barrels of oil is present in the western part of PEL 104 and our adjoining PEL111 permit, if
oil is present”

“Thirty two prospect and leads have been mapped as follow up targets in PEL 104 and in
the immediately adjacent permit to the north, PEL 111 lie in the Jurassic “Oil Fairway”.
“Given the current exploration success rate, Vicpet would expect to enjoy further
exploration success in the ongoing 2007 ten well Cooper Basin drilling program as
encountered at Wirraway-1.”
“We look forward to encountering further drilling success in the Growler-2 appraisal well of
the Growler oil discovery”