Announcement just out.13 FEBRUARY 2014Petroleum Exploration –...

Announcement just out.

13 FEBRUARY 2014
Petroleum Exploration – Initial results have provided several targets analogous to the Ungani discoveries made by Buru/MC approximately 10-15 kilometres to the NW of EP457.
At least one of these targets will be proposed to the joint venture
for drilling later in 2014.
Further seismic work will be proposed
for
other
prospects
and leads on the
Ungani Trend in EP457 and EP458
during 2014.
For further information please contact:
Kevin Wilson
Managing Director +61 8 9211 1999 from recent seismic survey

Rey Resources Limited (ASX:REY) has received from Buru Energy Limited, our JV partner and operator of the
Fitzroy Blocks, their initial interpretation of 2D
seismic data acquired over the Ungani Trend in EP457.
As announced on 25 November, 2013 the geophysical survey was completed during November 2013, with a total
of 234 line kilometres acquired over EP457. Processing
of seismic data occurred in January 2014.
EP457 together with EP458 are referred to as the Fitzroy Blocks. Rey holds a 25% interest (including a 10% free
carry
to production) in a joint venture on the Fitzroy Blocks along with Buru (37.5% and operator) and
Diamond
Resources (Fitzroy) (37.5%) who are a 100% subsidiary of Mitsubishi Corporation
(MC)
Initial results have provided several targets analogous to the Ungani discoveries made by Buru/MC
approximately 10-15 kilometres to the NW of EP457.
At least one of these targets will be proposed to the joint venture
for drilling later in 2014.
Further seismic work will be proposed
for
other
prospects
and leads on the
Ungani Trend in EP457 and EP458
during 2014.
For further information please contact:
Kevin Wilson
Managing Director +61 8 9211 1999