Page 2 YULLEROO 2 DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA Date: 13th March 2008 Permit: EP 391 Well Location: Lat : 17o 51’ 36.329”S Long : 122o 55’ 59.288”E Proposed TD: Depth : 3500mMD; (Vertical Well) Elevation: Ground Level is 57.2mAMSL Rotary Table is 62.9mAMSL Spud Date: 17:00 hrs, WST 22nd January 2008 Present Depth at 0600 hrs: 2605m MD Time of Reporting: 0600 hrs, WST 13th March 2008 Operations Since Last Report: Drilled 216mm (8 ½”) hole from 2359m (244mm casing shoe) to 2605mMD. POOH to change bit and BHA Current Operations: Pressure testing BOPs and surface equipment prior to RIH with new bit to resume drilling Hydrocarbon indications: None Comments: The primary objective is expected to be encountered below 2900 meters MD Participants in the Permit ARC Energy Limited 100% (Operator)
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
