Drilling close to what could be a future strike owned holding

Energy Resources Limited (ERL) are the titleholder and operator of the exploration permit EP368, located in the North Perth Basin. Within EP 368, ERL are proposing to drill threeexploration / appraisal wells, named Lockyer-2, Lockyer-3, Lockyer-4 and North ErregullaDeep-1, primarily targeting the Kingia sandstone. Secondary targets for these wells includethe High Cliff, Dongara / Wagina and Arranoo sandstones.The Lockyer-2 well is located on the northern side of Midlands Road and south off StrawberryNorth-East Road, approximately 3.2 km east northeast of the Lockyer Deep-1 well. TheLockyer-3 well is located on the northern side of Midlands Road and west off Strawberry North-East Road, approximately 4.38 km northwest of the Lockyer Deep-1 well. The Lockyer-4 wellis located on the southern side of Midlands Road off Mooriary Road, approximately 6.6 kmsoutheast of Lockyer Deep-1. The North Erregulla Deep-1 well is located on the southern sideof Midlands Road off Mooriary Road, approximately 8.3 km southeast of the Lockyer Deep-1well. The wells lay between the townships of Dongara and Mingenew, being approximately 19kms west of Mingenew (Figure 2-1).