VANESSA-1: PEL-182 COOPER BASIN S.A.Eagle Bay Resources advises...

VANESSA-1: PEL-182 COOPER BASIN S.A.
Eagle Bay Resources advises that three drill stem tests have been run across the
Epsilon and Toolachee Formations with the following results:

DST #1A Epsilon Fm 29-7 Sand Test Interval 2977.1m ­ 2980m:
Flowing Pressure 800 PSI on ½" Choke. Estimated Final Rate - Gas at 4.4 MMscfd
Gas Composition: C1/C2/C3/C4/C5 86/11/2/1/tr Some CO2

DST #1B Epsilon Fm 29-6 Sand Test Interval 2960.2m ­ 2693m:
No flow after 15 min. Suspected tool malfunction.

DST #1C Toolachee Fm 29-25 Sand Test Interval 2929.0m ­ 2931.8m:
Flowing Pressure 525 PSI on ½" choke Estimated Final Rate - Gas at 2.8 MMscfd
Gas Composition: C1/C2/C3/C4/C5 77/16/5/2/tr Some CO2. Logged sand
thickness + 10 meters.

Based on these results, production casing will be run and the well suspended pending
completion as a possible gas producer at a later date.
Current operations are attempting to pull out of the hole with the test tools.