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
VIL Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held