Ann: Vali and Odin Update, page-175

Great interview with Neil Gibbins from VEN today, main points I thought were interesting are:

• VEN has good team in place brought together by ex-Beach managing director with technical staff who have worked previously with Santos, Beach and Origin, who are very knowledgeable and experienced with the Cooper Basin Oil & Gas, the right team to find and develop further discoveries
• Vali 3 should be brought in production in very early March possibly this week and soon after in March Vali 2 will be put in production
• Main focus will now be to get Odin into production asap
• A lot of interest from buyers for the Odin gas, should get a good price
• Great potential for further gas and oil discoveries within their Cooper Basin permits
• Kinta is a very good chance of being a gas discovery, has been already drilled in the past
• Oil shows have been seen from the past drilling, seismics later this year should identify possible oil traps and there is a good likelihood of oil discoveries