The partners will be outlining the block’s prospects at this year’s Petroleum Exploration Society of Australia Farm-in Seminar to be held on the Gold Coast before the 2006 APPEA conference.

The prospects defined by the 575 square kilometre Oscar 3D seismic survey acquired last year are envisaged to be predominantly oil-charged.

The Oscar prospects feature tilted fault closures at Top Golden Beach level – analogous with the Basker/Manta/Gummy fields. The JV partners say these prospects have stacked pay potential with preliminary deterministic prospective resource estimates for an oil case indicating potential for 115 million recoverable barrels.

The Kipling prospect is on a downthrown fault closure along the Rosedale Fault, analogous with the Kipper field. Preliminary quantitative geophysics indicate a crestal amplitude variation with offset anomaly related to gas cap and proving fault seal.

Prospective resource estimates for an oil case indicate potential for 118 million recoverable bbls, but this is likely to be segmented into several smaller subordinate traps.

The PESA Farm-in Seminar will be held on May 7 in Meeting Room 5 at the Gold Coast Convention and Exhibition Centre in Broadbeach, Queensland.

Company representatives will outline the technical and commercial aspects of their opportunities via short audiovisual presentations. There will be time during and after the seminar to discuss additional details with interested parties in private.

Registration fees are $180 for viewers.

These fees also include a copy of the PESA 2006 Farm-in Seminar Report CD (containing details of all proposals presented), morning coffee and lunch, including drinks.

To attend as a viewer, register online (www.pesansw.com) by May 4.

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