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re: oops ...... preopen Sorry wrong day....oopshere is todays.....

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    re: oops ...... preopen Sorry wrong day....oops
    here is todays..



    ACN 051 212 429

    First Floor, 14 Outram Street, West Perth WA 6005 Telephone: +61 8 9481 3322
    PO Box 913 West Perth WA 6872 Facsimile: +61 8 9481 3330

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    Date: 17 January 2006
    To: Companies Announcements Office, ASX
    Electronic Lodgement:
    Number of pages: 2

    ANNOUNCEMENT TO ASX

    DRILLING RELEASE 7: EMILY#1
    PEL-182, COOPER / EROMANGA BASIN S.A.

    Eagle Bay Resources advises that the Emily-1 oil and gas exploration well is drilling ahead in the Upper
    Tinchoo Formation in 8 ½” hole. No significant shows were recorded from the Poolowanna Formation (the
    second main objective) or the top of the Tinchoo Formation. Both these zones will be further evaluated by
    wireline logs.

    th
    The status of Emily-1 at 06:00 hrs (CST) on 17 January 2006 was:
    Location: PEL-182
    Planned Total Depth: 2364 metres (TVD)
    Current Depth: 2186 metres – in Tinchoo Fm.
    Operation: Drilling ahead in 8 ½” hole.
    th
    Spudded: 23:00 hrs 7 January 2006

    Participants in the Emily-1 well are:
    Eagle Bay Resources (Operator) 37.6%
    Audax Resources Ltd 39.9%
    White Sands Petroleum Ltd 10.0%
    Australian Oil Company No2 P/L 12.5%
    Rig: Century Rig-18
    Target Strata: Hutton SS
    Poolowanna SS
    Tinchoo SS

    Yours sincerely





    ________________
    TONY RECHNER
    DIRECTOR
 
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