takeover target, page-18

Heron South-1

Since the last report, in accordance with pre-drilling plans, the well was plugged and abandoned at the conclusion of production testing. The rig was released from the drilling location at 04:30 hrs on 14th December

Gurame SE-1XST

Since the last report, the 7” liner was perforated over the Baong sands with tubing conveyed perforating (TCP) guns across a total 57m net interval between 2,700mMDRT* and 2,898mMDRT. Despite stimulating the well with nitrogen, no flow to surface was recorded and the production test has been completed

Anchan-1

Anchan-1 spudded at 23:00hrs (local time) on 15th November and reached a Total Depth of 1678mMDRT* on 21st November without encountering any significant hydrocarbons.

Sainampueng-1

Since the last report operations to plug and abandon the well have been completed and the rig was released from the drilling location at 19:00hrs on 9th December
Eni NT/P68 Farm-in options
Commitment to Blackwood well 5th January 2013
Commitment to 2nd Heron well 60 days post HS-1

Planned Transactions
Tassie Shoal Projects Initial focus TSMP1
WA-454-P farm out Launched 1st Nov
Seruway farm out Launch 1Q’2013
AC/P50-51 farm out Launch 2Q’2013

Industry wells near MEO permits
Evans Shoal North-1 NT/P48 Adjoins NT/P68
Barossa appraisal drilling NT/P48 Near Tassie Shoal

MEO contingent wells*
Blackwood well Pending Eni option
Seruway PSC (1-2 wells) Pending farm out
WA-454-P (1-2 wells) Pending farm out