nulla nulla #1 well : atp549p

Enterprise Energy

Telephone (08) 8373 627

NULLA NULLA-1 TO SPUD EARLY OCTOBER
ENTERPRISE ENERGY NL - 41.66%
Enterprise Energy is pleased to announce that the drilling of Nulla Nulla-1 in ATP-
549P(West) in the Queensland sector of the Cooper Basin is expected to commence
drilling on or about October 9, 2004. This is the first well to be operated by Enterprise
Energy NL.
This well is targeting potential reserves of 27.5 million barrels of oil expected to be
contained in the Namur and Hutton Sandstones both of which are Jurassic in age.
In addition to the Namur and Hutton Sandstones, reservoirs are also expected within the
Adori, Birkhead, Basal Jurassic and Triassic intervals, all of which provide additional
targets. All of these units produce oil in other areas of the Cooper Basin.
Both the Inland Field located to the north and the Cook Field lying to the south produce
oil from the Hutton Sandstone.
Other wells drilled near the Nulla Nulla-1 location have intersected good oil shows also
within the Hutton Sandstone and other reservoirs.
Nulla Nulla-1 is programmed to a total depth (TD) of 2420 metres and will take
approximately 24 days to drill. The primary objective, the Hutton Sandstone is expected
at about 1820 metres.
On completion of drilling this well, Enterprise Energy will hold 41.66% interest in this
licence area.
Nulla Nulla-1 will be operated by Enterprise Energy and will be drilled using the Century-3 rig.

For further information, please contact: -
Warren Leslie (08) 8373 6271 or 0438 533 833
Mark Lindh (08) 8231 7033