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During the course of this meeting it was inadvertently indicated that the Ngamia-1 well was drilling into the primary target and that initial results appeared to indicate that the well had intersected further oil bearing sands.

The Company wishes to clarify that the Ngamia-1 well has encountered oil and gas shows over a gross interval of 140 metres from a depth of 1,800 metres to 1,940 metres. The reservoirs are similar to those previously encountered at a shallower depth. The well will continue to be drilled to a total depth of 2,700 metres and then logged and sampled. This is expected to take a further three weeks to complete.