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DRILLING REPORT FOR STORMBIRD-1, PEL 104, SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. as operator for the PEL 104 Joint Venture advises that at 0600 hours
CST today, the operation was drilling ahead in 8 1/2 inch hole at 1,774 metres towards the
target Birkhead sandstone.

Stormbird-1 is the fourth well in the current exploration program of four exploration wells to be
drilled on a continuing basis with Century Rig #3 and is planned to be drilled to a total depth of
2,280 metres. Stormbird-1 is 4.5 kilometres to the south of the Tigercat-1 oil discovery and 8.1
kilometres east of the Growler Oil Field.

Stormbird-1 is targeting the same Birkhead sands oil productive in the Growler Oil Field,
currently producing approximately gross 930 barrels of oil per day. The Stormbird structure is
interpreted to have the potential to contain a P10 unrisked recoverable oil resource of up to 1.1
million barrels in the target Birkhead sands, if oil is present.

The next drilling report to the ASX for Stormbird-1 will be made on a weekly basis, with
additional releases in the event of significant activity.
The participants in Stormbird-1, the Growler Oil Field (PRL 15) and the Jurassic oil exploration
program in PEL 104 and their respective interests through their wholly owned subsidiaries are
as follows;

Victoria Petroleum N.L. (Operator) 40%
Impress Energy Limited 40%
Roma Petroleum N.L. 20%