Extract from AGM Presentation (Nov 07) - Slide 21:Taoudeni Basin...

Extract from AGM Presentation (Nov 07) - Slide 21:

Taoudeni Basin – Forward Expenditure

Year.................... 2007................. 2008

Mauritania 25%...Aeromag Programme.....Seismic Programme
Ta 11/Ta12 ...........Carried.............US$2.00m

Mali 18.75%......Seismic Programme.....Seismic Programme
Block 1,2,3,4,9.....US$0.6m................~US$4.9m

Total................... US$0.6m............... ~US$6.9m

The Company has commenced discussions with a number of potential Farm-in partners to further defray cost and risk and to continue its asset portfolio restructure

Slide 11: Resource Potential:

Significant Acreage Holding and Resource Potential
Projects Overview

Mauritania Blocks Ta11 & Ta12

- Woodside 75% (Operator)
- Baraka 25%
- Airborne and surface studies
- 2007, seismic commencing 2008
- 722 MMbbl + 2.5 Tcf †
- Potential for further leads
(poor existing 2D seismic coverage)


Mali – Taoudeni Basin Blocks
1,2,3,4, & 9

- Eni Mali 50% (Operator)
- Sonatrach 25%
- Baraka 18.75%
- BMVL 6.25%

- Airborne and surface studies
- 2007, 6000km 2D seismic commencing
late 2007
- 645 MMbbl + 9.2 Tcf †
(large fairway potential not incl.)
- Potential for further leads
(2/3 of area sparsely evaluated)

(† ) Unrisked Prospective resources: Independent Expert RPS-Energy (2006) †

Independent experts confirm Baraka has huge potential resource


Source:
http://www.brr.com.au/event/BKP/1688/36766/wmp/11g1y5ltlw

Regards

SP