I've got a good feeling about this one.The Patron 1 Well is the...

I've got a good feeling about this one.

The Patron 1 Well is the second well to be drilled under the recently announced PEL 93
farmin agreement with Red Sky Energy and Magellan Petroleum Australia Limited (“MPAL” a
wholly owned subsidiary of Magellan Petroleum Corporation (ASX Code: MGN).
The Patron Prospect is located on the northwest flank of the Dirkala Ridge, adjacent to the
Padulla Oil Field, on a smaller parallel basement faulted ridge. Faults on the northern and
south east flank of the Patron structure penetrate the Permian section, providing conduits for
upward migration of hydrocarbons.
Primary targets are oil in the McKinlay, Birkhead and Murta with Patchawarra and Epsilon
gas as secondary targets.
Patron is located 14.5km southwest of the Worrior Oil Field and 3.5km northwest of the
Padulla Oil Field, both of which are significant producers.