Shareholder Movements

Persal & Co Investments into Carpathian Resources; Reveleigh into Drillsearch Energy; National Australia Bank out of Energy Developments; Commonwealth Bank of Australia out of Australian Worldwide Exploration; Davies, Morton, King, Battersby into Eastern Star Gas; Chieftain Securities out of PCH Group; Patten into Queensland Gas Co.

Persal & Co Investments Pty Ltd has increased its stake in Carpathian Resources Ltd by acquiring 1,343,000 ordinary shares for between A$0.066-A$0.068 per share. Persal now holds 4,566,912 shares and holds 7.15% of the vote.

Drillsearch Energy Ltd Director Graham C. Reveleigh has changed his stake via on market and off market trades. In the case of the latter, Reveleigh has acquired 100,000 indirect ordinary shares for A$5,300. In the case of the former, Reveleigh acquired 150,000 indirect ordinary shares for A$6,300. In total, Reveleigh now holds 250,000 shares.

National Australia Bank Ltd Group (NAB), as portfolio manager, has ceased to be a substantial holder in Energy Developments Ltd after disposing of 764,420 ordinary shares for between A$2.59-A$2.95 per share.

The Commonwealth Bank of Australia (CBA) and its subsidiaries has changed its substantial stake in Australian Worldwide Exploration Ltd following the disposal of 3,306,837 ordinary shares for A$5,157,829. CBA now holds 41,990,455 shares and 15.39% of the vote.

Four Directors of Eastern Star Gas (ESG) have changed their interests in the firm following a company share purchase plan. Wyn Davies has acquired 40,000 direct ordinary shares for A$4,800 and now holds 20,000 indirect ordinary shares, 170,343 direct ordinary shares and 1.26 million December 2005 options. Dennis James Morton has acquired 80,000 direct ordinary shares for A$9,600. James now holds 18,413,333 direct ordinary shares and 4,166,666 direct December 2005 options; allowing Morton to increase his substantial stake in ESG and hold 8.39% of the vote. David William King has directly and indirectly acquired 80,000 shares for A$9,600. King now holds 8,373,333 direct ordinary shares, 4,166,666 direct December 2005 options and 10,040,000 indirect ordinary shares, which allow King to increase his substantial stake in ESG and hold 8.39% of the vote. Douglas G. Battersby has directly and indirectly acquired 80,000 shares for A$9,600. Battersby now holds 8,373,333 direct ordinary shares, 4,796,666 direct December 2005 options and 10,040,000 indirect ordinary shares.

Chieftain Securities Ltd has ceased to be a substantial holder in PCH Group Ltd after disposing of 8,110,000 shares for A$2,750,735.

Queensland Gas Co Ltd (QGC) Director Denis Frank Patten has changed his stake in the firm in off market trade. Patten has acquired 288,533 direct ordinary shares for A$5,250. Patten now holds 318,533 shares in QGC.

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