Ann: Nangwarry-1 Exploration Well Update, page-2

Good News !!! Time to re-list soon !!! CHEERS !!!
The second target - the Sawpit sandstone too should be intersected in the next few days !!!
and Vic Court Judgement not far off !!! by next month !!!

Highlights:
• Nangwarry-1 exploration well is ahead of schedule with the intermediate casing point,
at 2,949 metres measured depth, reached over the weekend.
• An intermediate hole logging program is currently being conducted with the 95
/8 inch
diameter intermediate casing to be run over coming days.
• The Nangwarry-1 well targets two gas reservoirs with a best estimate gross
prospective resource of 28.5 Bcf (net to Lakes Oil).
• The shallower target, Pretty Hill Formation, will be intersected after intermediate
casing is set in place.

Lakes Oil NL (Lakes Oil or Company; ASX:LKO) is pleased to advise that drilling of the
Nangwarry-1 exploration well is ahead of schedule. The well has now reached 2,949
metres measured depth (mMD) and the intermediate logging program is being conducted
prior to the intermediate 95
/8 inch diameter casing being run.
Following setting and testing of the intermediate casing, drilling will resume and the
shallower of the target formations, the Pretty Hill Sandstone, will be intersected shortly
thereafter.
The second target, the Sawpit Sandstone, lies below the Pretty Hill Sandstone at around
4,094 mMD.