i here the sound of the bongos

Office Address: Ground Floor, 30 Ledgar Road, Balcatta, Western Australia 6021
Postal Address: PO Box 717, Balcatta, Western Australia 6914
Phone: +61 (0)8 9240 2845 Fax: +61 (0)8 9240 2406 Email: [email protected] Web: www.verus.com.au
ASX Announcement
14 December 2010
The Manager
Company Announcements Office
ASX Ltd
4th Floor, 20 Bridge Street
SYDNEY, NSW 2000
Dear Sir,
Production Commenced at Bongo Prospect
Verus Investments Ltd (�Verus�; ASX code: VIL) is pleased to advise that the O.B. Ranch #1 well in the Bongo Prospect in Wharton County, Texas was placed on production on 13 December 2010.
The well�s production rates are being closely monitored by the operator and a production update will be provided to the Australian Securities Exchange (ASX) once oil and gas production rates have stabilised.
Caza Oil & Gas, Inc. (Caza; TSX: CAZ, AIM: CAZA), Verus� partner and operator of the Bongo Prospect, has previously estimated proved plus probable and possible gross reserves of approximately 45 Bcf (gas) and 0.15 MMbbl (oil) for the Bongo Cook Mountain anomaly. The initial test results indicate potential for significantly higher oil component, however, more will be known once a stabilised production rate is achieved.
�Caza has constructed the permanent production facilities in very good time and last night placed the well on production through the facilities,� Verus Executive Director Greg Lee said.
�The Company is eagerly awaiting the stabilised production results.�
Verus has a 9.375 per cent working interest (WI) in the Bongo Prospect.
For further information in respect of the Company�s activities, please contact:
Mr. Andrew McIlwain
Mr. Nathan Ryan
Mr. Craig Nelmes
Chairman
NWR Communications
Investor Relations
Finance & Administration
Tel: (+61 3) 9817 5067
Tel: (+61 0) 420 582887
Tel: (+61 8) 9240 8645