Ann: Update on drilling operations at the Paradox, page-2

re: Ann: Update on drilling operations at the... Transit Holdings Ltd hereby provides an update on drilling operations at the Paradox Basin Project

K20 UTAH PARADOX BASIN POTASH PROJECT
STATE HOLE #1
SAN JUAN COUNTY, UTAH, USA
(Operator: Sabine)

Progress report on the State Hole #1 well as at 6:45am, 11 October 2011.

Current Depth: In Utah, the drilling team has now reached bed 13.

Current Activity: Coring / analysis of core beginning.

Coring Plan : Coring and evaluation is in process. Upon the completion of coring of bed 13 the drilling team will continue to drill down to approximately ~6,000 feet to bed 18 to complete coring.