Although some 2 months behind schedule, oil production rates were now at budgeted levels and the partners said production levels from the producing wells are in line with expectations.

Junior partner Voyager Energy said it believed there was very good potential to add additional wells to increase proved reserves and oil production rates.

The joint venture has agreed that the Jingemia-5 well will be drilled in March 2005 immediately after data from the impending Denison 3D seismic survey is interpreted. Final approvals for this survey are close to being obtained and this should allow recording work to commence in December.

Jingemia produced up to 3919 bopd and averaged A$62 per barrel.

Voyager’s technical director, Ray Barnes said, “We are beginning to see the benefits of the acquisitions we completed in April this year. With continuing high oil prices the cash flow contribution from Jingemia will continue to strengthen our cash position, supporting an aggressive program in the Perth Basin and enabling us to pursue growth in other prospective areas”.

Interests are Origin Energy (operator) 49.189%, ARC Energy 33.141%, Voyager Limited 11%, Victoria Petroleum 5%, Norwest Energy 1.278%, Roc Oil (WA) Pty Limited 0.250%, J Geary 0.142%.