Springfield's May venture into the historic basin was a 25% contribution to the initial work program on permit PEL104 for a 12.5 % interest in the permit, at an estimated cost of $4.2 million.

Impress said this latest acquisition is a logical adjunct to the farm in to permit PEL104 and that the company now has interests in six highly prospective permits with identified leads.

The permits acquired include PEL 111, PEL 115, PEL 86, PEL 87, PEL 89 and cover a total area over 15,000sq.km. Nine wells are planned in a program due to begin mid 2004.

A preliminary study of the areas has identified in excess of 40 leads and prospects within the new permit areas in addition to over 20 already identified in PEL 104.