re: yellowbank spud!!! epe running: 37.5c $$$$$ Currently mixed...

re: yellowbank spud!!! epe running: 37.5c $$$$$
Currently mixed reactions between bulls and bears..
Amazing volume with many big buyers in the hour.

Yellowbank shows potential.

YELLOWBANK CREEK-4 SURAT BASIN, QUEENSLAND

COMMENCEMENT REPORT
Enterprise Energy is pleased to advise that the Yellowbank Creek-4 well being drilled in Production Licence 18 (PL-18) of the Surat Basin in the Queensland was spudded at 2 AM on Sunday 24 October.

Depth 195 metres
Current Operation Setting surface casing
Forward Operation Test BOPs and drill-out casing shoe.
Spud Date 24 October 2004
Programmed total depth 1880 metres

This is a development well with the primary target being the Triassic Showground Sandstone. This well is located 400 metres west of Yellowbank Creek-2, which produced oil from the Showground Sanstone.

Interests in this licence at the completion of drilling will be: -

Enterprise Energy NL 85%, reverts to 50% after pay-out
Brisbane Petrloem NL 25% after pay-out
Delbaere Associates Pty. Ltd 25% after pay-out

Cheers,
Ace.