Quarterly Report 30 September 2014

Summary

CAMBAY PSC (45% & OPERATOR), ONSHORE GUJARAT, INDIA
Quarterly Cover
  • Fracture stimulation completed
  • All isolation plugs successfully milled out
  • Gas and light oil flows to surface during flow-back and light oil recovered for sale
  • Higher than expected proportion of light oil particularly encouraging
  • Gas Sales Agreement for Cambay-73 endorsed by Government of India 
SPA 17 AO (100% & OPERATOR), ONSHORE CANNING BASIN, WESTERN AUSTRALIA  
  • Final interpretation of 4,060 line km gravity gradiometry/magnetic survey received
  • Confirmation of the Wallal Graben extension into adjacent Oilex acreage SPA 17 AO
  • Application for formal exploration permit commenced on an exclusive basis
CORPORATE
  • Raised £1.17 million (AUD2.13 million) before costs via drawdown on the Equity Financing Facility with Darwin Strategic Limited
  • Raised $1.08 million through conversion of listed options to fully paid shares