spudded and drilling, page-6

Company Announcement ACN 051 212 429 Suite 3 First Floor, 610 Murray St West Perth Telephone: (08) 9481 3322
PO Box 913 West Perth Western Australia 6872 Facsimile: (08) 9481 3330 Website: www.eaglebayresources.com.au Date: 23thDecember 2007 To: Companies Announcements Office, ASX Electronic Lodgement: Subject: ASX-2 JASMINE-1 Drilling UpdatePEL-182 JV Cooper Basin S.A. Number of pages: 2
JASMINE-1: PEL-182 COOPER BASIN S.A.
Eagle Bay Resources, as operator, advises that the JV's fourth wildcat exploration well Jasmine-1drilling with Century Rig-3, is waiting on Halliburton cement trucks to arrive and cement 9 5/8" surface casing. Local rain has temporarily closed roads ­ but expected
to be re-opened about midday Monday. The Jasmine prospect is a 29MMBO (P10 - if oil is present) stratigraphic play on the
underexplored NW edge of the Cooper Basin, targeting the Permian Patchawarra oil sands
as seen 6 km to the south and downdip in the Darter-1 well, drilled by Santos in 1991. The status of Jasmine-1 at 06:00 hrs (CST) on Sunday 23thDecember 2007 was: Location: PEL-182 Planned Total Depth: 2461 metres (TVD) Current depth: 897 metres (TD) Operation: Waiting on Halliburton Cement trucks Next 24 Hour operations:
Cement 9 5/8" surface casing, install well head and BOPs The participants in the PEL-182 joint venture are:
Eagle Bay Resources NL 37.6% (operator) Audax Resources Ltd 49.9% Dome Petroleum Resources Plc 7.5% Australian Oil Company Ltd 5.0%


BY ORDER OF THE BOARD OF
EAGLE BAY RESOURCES N.L.

Regards and a verry merry Christmas and New Year to all holders, The Tinhopper