OPERATIONS

Shareholder Movements

Elcos into Carpathian; Capital out of Arc; Gregory Pritchard into Energy Developments; Maple-Brow...

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Eddie Smith's Elcos has taken a substantial holding in Carpathian Resources by acquiring 8.19% of the issued stock or 5,229,440 ordinary shares.

Capital has ceased to be a major shareholder in Arc Energy.

Gregory Pritchard has indirectly acquired 2,164 shares in Energy Developments at $2.31 per share.

Maple-Brown Abbott has ceased to be a substantial shareholder in Caltex Australia.

AMP has become a substantial shareholder in Australian Worldwide Exploration acquiring 13,726,716 shares (5.07%), while Portfolio Partners has cut its interest from 10.73% to 9.73%.

AMP cuts its interest in Novus Petroleum from17,984,153 shares (9.77%) to 15,850,542 shares (6.62%).

There has been a number of changes at CUE Resources with Richard Tweedie acquiring 99,345 ordinary shares; Ken Hoolihan 99,345 shares; Geoffrey Ernest Albers 198,690 shares and Leon Musca 99,345 ordinary shares.

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