Target Energy Limited (“Target”) (ASX CODE: TEX) is pleased to...

Target Energy Limited (“Target”) (ASX CODE: TEX) is pleased to advise that wireline logging has indicated
the presence of over 30 feet of net oil and gas pay in two sands in the St Martin Land (Snapper) A-1 well
presently being drilled in St Martin Parish, Louisiana.

The indication on logs of hydrocarbon pay in the 3rd Marg Tex sand confirms
our prognosis and is very encouraging for the deeper Hackberry Sand targets.
The additional presence on the logs of a hydrocarbon charged sand at the
Marg Howie level is a bonus.
The Operator has confirmed that the pay indicated on the logs thus far is
already sufficient to complete the well as a producer.
Target Energy managing director Laurence Roe said “the discovery of oil and gas at Snapper was very
encouraging, and the pay zones identified have the potential to host a significant quantity of oil and gas. On
the back of our recent gas discovery at the Thoroughbred well, Target is generating excellent exploration
momentum.”