Western Canning Basin (Bids close 27 October 2005)

The two release areas encompass prime acreage in the Canning Basin with proven source rock potential, favourable reservoir development and large, seismically mappable structures. Basin fill is essentially Palaeozoic and there are pre-salt and post-salt targets. The areas cover parts of the central Broome Platform and the Willara Sub-basin. The sizes of the blocks are 5,999 sq km and 5,092 sq km. The sealed Great Northern Highway passes through the release areas and connects the areas with the port of Broome.

The release areas have had 1,000 km of 2D seismic reprocessed by Robertson Research. RPS Energy has prepared a prospectivity report, and a number of leads have been mapped and scoping economics calculated using basic Monte Carlo volumetrics.

Northern Perth Basin (Bids close 27 October 2005)

The more northerly Perth Basin release area lies about 20 km south of the Woodada gasfield, while the more southerly release area is situated 9 km west of the Gingin gas discovery and 8 km east of the Walyering gas discovery. The sizes of the blocks are 444 sq km and 810 sq km.

The Parmelia gas pipeline and a sealed highway connect south to the Perth metropolitan area and the Kwinana oil refinery respectively.

Acreage release CDs will be available from the Department of Industry and Resources and are to be made available at the PESA Farmin Seminar and the APPEA Conference. A web version is also to be made available from April 2005: www.doir.wa.gov.au/mineralsandpetroleum/acreage_releases.asp

The acreage release CD package contains information about the release areas, land access and how to make a valid application for an exploration permit.

The Western Australian Opportunities 2005 booklet contains numerous farmout proposals for areas including the Timor Sea, the Perth Basin and the Canning Basin. The Department of Industry and Resources (DoIR) produce the booklet in cooperation with industry and Resource Information Unit (RIU). Copies are to be made available at the PESA Farmin Seminar and the APPEA Conference in Perth in April 2005. A web version is available at www.riu.com.au/wapo2005

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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