announcement from bpt and sne

Here are part of their announcements covering the Wombat Wells.
Why hasn't LKO informed SH's of where they are at ?
Not good enough, IMO.

Update on Wombat Project
--------------------------
Work associated with Somerton??s farmin to the Wombat tight gas project in the Gippsland Basin
commenced on 17 December 2010 with start-up of an extended flow and pressure build-up test of the
Wombat-2 well. This work will be used to determine whether long term production from the well is
economically viable and to assist in the design of the fracture stimulation program of Wombat-4,
scheduled for the first quarter of 2011.
Wombat-2, which was drilled in 2004 by Lakes Oil, was fracture stimulated in 2004 and re-stimulated in
mid-2009. Throughout 2010 a series of short two hour flow tests of the well were conducted. The PRL 2
Joint Venture now plans to flow test the well for approximately two weeks followed by an extended
pressure buildup for about one month.
About Somerton Energy
?h Somerton Energy recently completed a capital raising of $12.5 million consisting of a share
placement for $0.7 million and a rights issue which realised $11.8 million.
?h The company now has 141 million shares on issue and has a market capitalisation of
approximately $21 million (@ $0.15/share).
?h Beach Energy is the company??s largest shareholder with a 57% interest.
?h Somerton holds around $10 million in cash.
?h Apart from the interest in PEL 495, Somerton Energy has interests in four exploration tenements
in the Otway Basin and the Gippsland Basin.

RAVI