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March 2, 2005
Status Report Huntington-2H well
Carpenter Pacific Resources NL (ASX:CPC) ("Carpenter Pacific") advises that as of the
morning of March 2, 2005, the Huntington-2H well has reached its total depth on
schedule at approximately 6433 vertical feet and a horizontal section of approximately
987 feet in the targeted Pettit horizon. This is 387ft longer than the original intended
600ft of horizontal section. The horizontal section in the targeted Upper Petit reservoir is
gas saturated.

The well is located at the 30% owned Jefferson ­ McLeod project in North East Texas,
USA.

The Huntington-2H well is the first horizontal well ever drilled in this project and will be
the first of up to 17 wells to be drilled over the next 18 months, the majority of which will
be drilled horizontally

Completion, testing and tying into production facilities are expected to be finalized over
the next two to three weeks
For further information contact:

North American Contact: Mr Jeff Clarke Managing Director & CEO Ph: +0011 214 244 7690
Email: [email protected] Contact: Mr Peter Collery Executive Director and Company Secretary Ph: 03 8862 6640 Email: [email protected]