Santos, on behalf of the SW Queensland Unit and Block Joint Ventures, is inviting bids to drill up to five wells in each of the two highly prospective farmin areas of the permit, to earn a 50% interest in any Petroleum Lease issued by the QDNRM on commercial success of any bid well.

Well costs are capped to a predetermined amount and the farminee is also able to bid a gas price at the nearest tie-in point.

Santos, a founding partner in the discovery and commercialisation of the basin and experienced Joint Ventures operator, will operate the farmin drilling program. Bid submissions are due 3rd June 2005. For further information contact john.chambers@santos.com.

The Farmin Seminar will be held on Sunday 10 April in Meeting Room's 2 & 3 at the Perth Convention and Exhibition Centre, Perth, Western Australia – the morning of the icebreaker function of the 2005 APPEA conference, held in the same venue.

Company representatives will review the technical and commercial aspects of their opportunities via short audio visual presentations. The seminar registration fees include a copy of the PESA 2005 Farmin Seminar Report CD (containing details of all proposals presented), morning coffee and an excellent lunch including drinks.

If you wish to make a presentation, you can contact Wolfgang Fischer for details or register on-line (http://www.pesansw.com) by no later than Thursday 24 March 2005. If you wish to ATTEND but not present, please register by Thursday 7 April 2005.

Further details are available from: PESA 2005 Farmin Seminar Convenor, C/- PetroVentures, PO Box R746, Royal Exchange, NSW 1225 Australia. Ph. (+612) 9247 9888 Fax (+612) 9252 1083.

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