Ann: Quarterly Activities and Cashflow Report December 2019, page-7

PRL3 is at Lakes Entrance. It is only a very small lease but did show oil flows that were unfortunately mixed with water. Lakes Entrance was the first area in Victoria that oil was discovered by two workers digging a well looking for water. Lakes was going to drill in that area some years ago but ran into problems with a landowner which were resolved but unfortunately the moratorium kicked in. The future doesn’t look good but I still have faith.