Ann: Response to ASX Price Query, page-101

"Targets in the 12¼” hole section include the 200 (Post Dande), 250 and 350 (Dande), and 400
horizons (Forest), which will be drilled down to approximately 2,200 metres MD before
running a wireline logging evaluation suite and setting the 9⅝” casing.

After setting the 9⅝” casing the rig will drill ahead in the 8½” hole section through the 500
(Pebbly Arkose) through to primary targets in the 600 and 650 horizons (Upper Angwa
Alternations Member) to approximately 3,500 metres MD before running a wireline logging
evaluation suite."

Almost certainly reading too much into this, but has IVZ previously said Upper Angwa is the primary target, while the first layers are 'mere' targets. Hope it's not a softening up for an expected announcement of no gas in these first targets (but don't worry, we still have the primary targets to go).