Eni said the predrill evaluation included the acquisition of over 5000km of 2D and 420sqkm of 3D seismic. To date large Jurassic structures have been identified as ready to drill candidates. An early Jurassic petroleum system has been established via the evaluation of oil filled fluid inclusions in Houtman-1, and the mature Jurassic source depocentres are immediately adjacent to the large structures.

Between 30% and 50% equity is available across WA-328-P and WA-326-P covering 10,000 sq km. The primary prospect is expected to be drilled in late 2005 early 2006. More details are available from ernie.delfos@eniaustralia.com.au

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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