commercial production!!, page-142

12 Jan 2010 10:50 Fausse Point intersects over 300 feet of formation

.....Land access agreements required for production pipeline laying, and agreements for connection to existing nearby production facilities and distribution network, thereby enabling gas sales, are almost complete. The tie in point to this major trunk line is approximately 1.6 miles away.

Additionally, the Joint Venture partners have completed negotiations to enable exclusive access to approximately 80 acres! of additional license area adjacent to the discovery. This compliments the existing 272 acres! already within the Joint Operating Agreement.

"This is a fantastic result for Verus" the Chairman Mr Andrew McIlwain commented. "Whilst we always acknowledged that this investment was not a certainty, the confidence we had in the data and the capabilities of the operator Golden Gate Petroleum and its subsidiary company Kindee Oil & Gas as well as the drilling contractor, has been returned many fold. We are still to fully understand the commercial viability of the well, however at this stage; this appears to be the best outcome Verus shareholders could have wished for".