stuart petroleum, page-5

re: stuart petroleum-running dst STU is looking good. Monday may see us with a double bunger, with results of DST on Murta formation from Padulla#2.
plus
Harry #1 possibly reaching first target Patchawarra.

Stuart Petroleum Limited advises that the Padulla #2 oil exploration well is running
DST #1 over the interval 1132m to 1145m to evaluate a fair oil show recorded from
the Murta Formation. A further update will be issued once results from the test
become available.



(a) Padulla #2, an oil exploration wildcat, is scheduled to spud 30th October 2005. This well will target 5.0 million barrels of oil (P10) in the Murta and McKinlay formations of the Eromanga Basin. (b) Harry #1, a dual gas and oil exploration wildcat, is scheduled to spud 28th October 2005 and will target 17.8 BCF of gas (P10) and 8.0 million barrels of oil in the Epsilon and Patchawarra Formations (gas) and Poolowanna and Tinchoo Formations (oil).