Present Depth at 0600 hrs: 993mMD Time of Reporting: 0600 hrs, WST 23 November 2007 Operations Since Last Report: Drilled 444mm hole to 261m. Set 340mm casing. Drilled 311mm hole to current depth of 993mMD Current Operations: Drilling ahead in 311mm hole at 993mMD Hydrocarbon indications: Oil fluorescence has been recorded in interbedded sandstones and claystones over multiple intervals from 110m to 925mMD. There have been no gas shows associated with these occurrences. The significance of the oil shows will be determined once all formation evaluation and wireline logging has been completed. Comment: The presence of oil shows from 110 metres to 925 metres is very encouraging and confirms that hydrocarbons have migrated to the Valhalla structure and through the Tullock Nose. Further evaluation will be required to assess the commercial significance of these shows.
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held