Australian Stock Exchange Limited Companies Announcement Office Electronic Lodgement System Dear Sir, ANNOUNCEMENT TO ASX DRILLING REPORT: ACRASIA #4 PEL 90 / PPL 203, COOPER / EROMANGA BASIN, SA Stuart Petroleum Limited advises that Acrasia #4 has drilled through the top Hutton sand and is currently running in the hole with DST #1 over the interval 2042 metres to 2047.5 metres to evaluate oil shows in lower Hutton sand not previously tested. Encouraging shows were noted while drilling the primary targets, the lower Birkhead and upper Hutton sands. These zones may not be tested prior to completion and will further be evaluated with wireline logs after drilling to total depth. The status of Acrasia #4 at 06:00 hrs (CST) on the 1st August 2005 was: Location: PEL 90 / PPL 203, 160m east of Acrasia #1 Planned Total Depth: 2350 metres Current depth: 2047.5m Operation: Running in the hole with test tools for DST #1 Spud: 13:30hrs 20th July 2005 Participants in the Acrasia #4 well are: Stuart Petroleum Limited (Operator) 75% (STU) Beach Petroleum Limited (Mawson Petroleum Pty Ltd) 25% (BPT) Yours faithfully, Tino Guglielmo Managing Director Level 7, 22 King William Street, Adelaide, South Australia 5000 Telephone: (08) 8410 0611 PO Box 8148, Station Arcade, Adelaide, South Australia 5000 Facsimile: (08) 8410 0250 S:\Company Secretary\ASX Announcements\Acrasia #4\050801_ASX Drilling Advice Acrasia #4.doc
STU Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
