gas/oil exploration-cooper basin, page-14

ta Yogi.

Here's a response I got from VPE

Dear Grant,

The joint venture has decided not to run 3D seismic at this stage of exploration, although it is the optimun seimic exploration method.

Cost would be approximately $4 million to provide coverage for the five wells planned to be drilled in april/may 2004.

3D is normally run after a discovery for development drilling purposes.

Fortuitously, as there is a large ex-santos 3d coverage over PEL 115, one of our wells there will most likely be on 3D seismic.

Thank you for your interest in Victoria Petroleums drilling activities.

John kopcheff
Victoria Petroleum.