Trifon-2 is currently at a depth of 1892m with the first of two cores to be cut at 1933m yesterday. Simultaneously Wombat-2 has been prepared for fracture stimulation and is currently shut in to allow pressure build up to be monitored prior to stimulation.

To save a duplication of costs the company has decided to fracture Wombat-2 and Trifon-2 at the same time. It is expected that Trifon-2 will be cased and ready for fracture stimulation within 7– 10 days and the first equipment is expected to begin arriving late this week.

Lakes said the that the first $5 million of expenditure on the Trifon Tight Gas Project is being funded by partner Jarden Corporation Australia to earn a 50% interest in both the Trifon and Gangell Structures.

Wombat-2 and Trifon-2 are located in PEP157 with Roma Petroleum holding a 5% overriding royalty of the wellhead value of any hydrocarbon production.