ASX ANNOUNCEMENT 29 MARCH 2010 DRILLING UPDATE FOR PARADOX BASIN # 3 ON THE GOLDEN EAGLE GAS FIELD, UTAH. CURRENT OPERATION: DRILLING AHEAD AT 11,565 KEY POINTS: h Paradox Basin #3 has encountered further gas shows h Gas Show 4 of 270 Units is present over the interval 11,367 to 11,378 h The well is currently at 11,565 and Paradox Basin #3 is expected to reach 12,000 tomorrow h The well continues to show high operational gas levels reaching 1453 units during reaming, and 1823 units whist running a junk basket h Logging is expected to commence on Wednesday
GDN Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held