going to move higher!

Should be double figures.

18 October 2005
ASX Announcement
Impress Establishes Strategic Position in Cooper Basin

Emerging oil producer, Impress Ventures Limited (ASX: ITC, Impress), is pleased to
announce that it has taken a significant step towards establishing itself as a meaningful
and profitable participant in South Australia’s exciting Cooper Basin.

Impress signed a conditional agreement today to purchase 100% of oil and gas explorer
Entek Energy Ltd’s (ASX : ETE, Entek) 12.5% interest in the highly prospective Cooper
Basin exploration and production licences; 86, 87, 89, 104, 111 and 115.
Importantly, the acquisition will significantly boost Impress’ present interest in the
specified licences from 27.5% to 40%.

The licence area totals 16,850 square kilometres and features the recent Mirage and
Ventura oil discoveries situated on PEL 115, which presently produce a combined 300-
350 barrels of oil per day. This is expected to rise to 400-450 barrels per day when
Mirage is placed on pump later this month.

Impress will pay Entek $1.5 million in cash, allocate 35 million Impress ordinary shares to
Entek and issue Entek with 5 million options exercisable into ordinary shares at 8 cents
for a period of two years. The agreement is subject to approval by Entek shareholders
and relevant SA Government and joint venture approvals.

Strategically positioning the company for future consolidation in the Cooper Basin,
Impress’ increased stake in the permits will now equal that of the current largest
shareholder and operator of the permit area, Victoria Petroleum.

Impress Managing Director Mr Douglas Jendry said the historic deal had a two–fold
impact on Impress, heralding the Company as a meaningful player in the Cooper Basin.
“This deal not only positively impacts on our profitability in the short-term, but is an
important milestone in the Company’s longer-term goal of becoming a mid-tier Australian
oil producer by the end of next year,” Mr Jendry said.

“With the combined oil production from the Mirage/Ventura oil field anticipated to be in
excess of 1000 barrels per day following development drilling in early 2006, you only
have to do the numbers to see the type of immediate impact this deal has on the
Company’s bottom line,” Mr Jendry said.

“However, with the current Cooper Basin exploration success rate around 40% and a
significant exploration programme planned for three of the PELs in the next year, we are
now also strongly positioned for long-term organic success as well as any future
consolidation in the Basin,” he said.


Subject up 12%
Posted 28/09/05 21:14 - 30 reads
Posted by macrae12
IP 61.68.xxx.xxx
Post #735077 - start of thread - splitview

Now 5.7. Nice 33% gain for this hungry gorilla with much more to come.

Subject one other minnow
Posted 25/07/05 15:00 - 59 reads
Posted by macrae12
IP 61.68.xxx.xxx
Post #658674 - start of thread - splitview

Your call.

Sydney - Thursday - July 14: (RWE Australian Business News) -

Impress Ventures Ltd (ASX code: ITC) has signed a conditional agreement
to increase its interest in the six Cooper Basin exploration and
production permits PEL 86, 87, 89, 104, 111 and 115 from 15 per cent to
27.5 per cent.
Impress has agreed to buy the extra interests from Tacnas Pty
Ltd, a fellow joint venturer, under certain conditions.
The agreement calls for Impress to pay $500,000 in cash and to
pay to the joint venture account the outstanding cash calls owed by
Tacnas, estimated to be $500,000.
In addition, Tacnas will receive 35 million shares in Impress
and a $200,000 convertible note, valid for two years and convertible at
8c a share.
Further payments are to be made upon certain recoverable reserve
milestones being met.
Impress chairman Mr Eddie Smith said: "ITC is pleased to
increase its interest in these highly prospective areas to a more
meaningful level such that any future success will have a greater
benefit to the company.
"The deal gives ITC a 27.5 per cent stake in the
recently-discovered Mirage and Ventura oilfields."
Shares in Impress Ventures fell 0.2c to 4.3c today