snuck under the radar

March 17, 2005

SPUDDING OF FIRST WELL AT THE HELPER PROJECT
Carpenter Pacific Resources Ltd. (ASX:CPC) (the "Company") advises that it has
spudded its first well at the Company's Helper Project in central Utah (the "Project").
The well is known as the Kennilworth Rail Road #1 ("KKR #1").

The KKR # 1 is a vertical well and the first of a multi-well drilling program on the
Project acreage. The Project is located in the Uinta basin in central Utah adjacent to the
Drunkards Wash complex, the largest gas field in the state of Utah.

Drilling will target the Ferron Sands and Coals. The well has a planned vertical depth of
approximately 4,600 ft.

The well is expected to take up to 7 days to reach the planned total depth and will be
followed by the drilling of the KKR #2. Subsequently, the company will undertake the
completion and testing of both wells.



For further information contact:

North American Contact: Mr Jeff Clarke Managing Director & CEO Ph: +0011 214 244 7690
Email: [email protected] Australian Contact: Mr Peter Collery Executive Director and Company Secretary Ph: 03 8862 6614
Email: [email protected]