Ann: South Erregulla Update, page-71

Hi DP,

I just updated the stratigraphic column in the time vs depth graphic and used the revised top of the Kingia Basal sandstone as an "anchor point" to adjust all formation top depths by 212m (see for reference the calculation table below). Based on this updated picture and by following the drilling performance of WE5 as reference, my current schedule for this drilling is:

• Reached yesterday afternoon the first casing (based on average ROP of 30m/h) and will resume drilling after cementing the casing and installing and testing the BOP of the intermediate well section on Sunday (23.1.) after 8 operational days.
• Reaching second casing point (Kockatea Sh.; av. ROP 15m/h) on 27.1. (12 operational days; Lesueur and Woodada intersected)
• Resume drilling the production section on 2.2. (18 operational days)
• Intersecting the Wagina on 6.2. (22 operational days; ROP 3m/h)
• Intersecting the Kingia on 16.2. (32 operational days; ROP 3m/h)
• Intersecting the High Cliff on 18.2. (34 operational days; ROP 3m/h)
• TD on 19.2. (assumed at 4,850m md; 35 operational days)
• Results from logging: 7.3. (51 operational days)