Thanks for the enquiry. The reason we did not have our regular...

Thanks for the enquiry.

The reason we did not have our regular operations report last Thursday is that the drilling at Snapper is completed and there are no ongoing operations to report at this time. We did note in that last release that it was the Final Report, but that statement was easy to miss.

We are now awaiting a workover rig to arrive at Snapper A-1 to complete the well, but that will be another week or so. We will advise the market when that occurs.

To answer your other question, we are unaware of anything that should have resulted in our lower shareprice last week. As far as we are concerned we have had a very positive few months - we have had two discoveries recently, we have more drilling planned throughout the year and we see a bright future for the company. We will continue to try to educate and inform the market about Target's obvious potential.


Regards,

Laurence Roe
Managing Director
Target Energy Limited

Level 2, 46 Ord Street
West Perth WA 6005

PO Box 140
West Perth WA 6872
Australia

[email protected]

Ph +61 8 9476 9000
Fx + 61 8 9476 9099