PREMIUM FEATURES

Shareholder movements, midweek update

OPES Prime fallout – ANZ out of WorleyParsons; Kugler into Burleson; JPMorgan Chas into Carnarvon...

WORLEY PARSONS: ANZ Bank ceased to be a substantial shareholder on May 21.

Other shareholder movements:

BURLESON ENERGY: Andrew Kugler Jr acquired 80,000 Ordinary Shares at $0.135 per share in on market purchase on May 28, taking his total holding, held directly, to 3.74 million ordinary shares, 1.62 million unlisted options, 540,000 listed options and 10 C-class shares.

CARNARVON PETROLEUM: JPMorgan Chase & Co and its affiliates became a substantial shareholder on May 30, with a voting power of 5.05%.

ELK PETROLEUM: Dr Peter Power acquired 100,000 ordinary shares for $56,065 in on market trade on May 28, taking his total holding, held directly and indirectly, to 60,000 ordinary shares, 500,000 options exercisable at 60 cents by November 21, 2011, 370,000 ordinary shares and 796,141 ordinary shares

EMERALD OIL & GAS: Jeremy Shervington acquired 1,337,982 ordinary shares on May 30, via the exercise of 1,337,982c May 31, 2008 options at $267,596.5, taking his total holding, held indirectly, to 3,150,977 ordinary shares, 100,000 ordinary shares, 367,577 director options exercisable at 17.68c by January 23, 2011, 600,000 management options exercisable at 25c by December 31, 2008 and 600,000 management options exercisable at 30c by December 31, 2009.

GAS2GRID: The Albers Groups, comprising Ernest Geoffrey Albers, Sacrosanct Pty Ltd, Gascorp Australia Pty Ltd, became a substantial shareholder on May 30, with a voting power of 5.6%.

OIL SEARCH: Westpac Banking Corporation became a substantial shareholder on May 27, with a voting power of 5.04%.

PRYME OIL AND GAS: John Dickinson, who resigned as a director on June 1, retains a direct interest in 1.7 million ordinary shares; 566,667 options exercisable at $0.40 and expiring on June 3, 2008 and 759,000* options exercisable at $0.20 expiring 30 June 2009 (*\ out of 3.45 million options granted under the directors' incentive option plan (as approved by shareholders at the general meeting held on July 20, 2006); 759,000 options have vested and are exercisable. On cessation as a director, the balance of 2,691,000 options has lapsed.

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