What do you read into this?Fairway Project, Howard County,...

What do you read into this?

Fairway Project, Howard County, Texas
BOA 12 #1
The BOA 12 #1 was put on pump just prior to Christmas. The well continues to flow oil, gas and water, with approximately 17,500 barrels of load water still to
recover.

Target Energy is earning a 60% Working Interest in the Fairway project.

Shepard’s Channel Prospect, La Fourche Parish, Louisiana
Work continues at the Shepard’s Channel well site. The Reliable Rig #21
mobilised to the site on Saturday 10th December. The existing borehole was reentered,
existing cement plugs drilled out and operations progressed to a depth
of approximately 3,800 metres at which time a casing leak was identified uphole.
This leak, which was unrelated to the current program, has now been
rectified and operations have recommenced.
Work has now switched to a 24/7 basis.
Target Energy has a 10.33% Working Interest in Shepard’s Channel.
ENDS
For and on behalf of TARGET ENERGY LIMITED
Laurence Roe