major oil discovery, page-2

Non-Commercial Gas/Gas Condensate:

Copy of Announcement Overview:

"Overview

• Marina 1 has recorded a gas/gas condensate discovery. Hydrocarbon shows
(principally gas) were recorded over at least 5 zones.
• Preliminary analysis of the data recovered from the well has not confirmed the presence of a commercial discovery in this structure; however
• Marina 1 has provided encouragement to conduct additional exploration in the permit.
• Marina 1 is only the second well ever drilled in the WA318P Block, which covers 3000 square km.
• The JV is considering a new seismic survey in WA-318-P which, combined with data from Marina 1, will assist in further geologic and geophysical interpretation.
• The seismic survey will focus on identifying new leads and prospects and detailing several known leads in the permit."

Regards

SP