Southern Georgina Basin

Southern Georgina Basin
Given the lifting of a fracking moratorium, by the Northern Territory Government earlier this year the
Company has had significant interest in the Project. The Company has engaged with an unrelated
corporate firm for an exclusive period of 4 months to pursue a potential joint venture or other
divestment opportunity. An exclusivity fee of $20,000 was paid to the Company in this regard.
As part of its strategic review of the Company’s assets it was concluded that EP 127 is in good standing
and represents an under explored asset with potential to add significant value to the Company. The
Company has recently been advised that the Northern Territory Government has approved the
Company’s work commitments and also all maintenance and annual fees have been paid up to 13
December 2019.