Perth, June 10, 2008 AEST (ABN Newswire) - Initial Report: Brearley 1H-11

Report Date: 10 June, 2008

Project: Anadarko basin Horizontal Drilling Programme

Location: Ellis County, Oklahoma

Well: Brearley 1H-11

Spud Date: 8 June, 2008

Exoma Working Interest: 25.87% (free carried)

Operator: Crusader Energy Group LLC.

Objective: 1.5 BCF gas and 50,000 barrels of oil

Target Depth (TD): 8,600 feet

Current Depth: 2,100 feet

Progress: The well spudded on 8 June, 2008. It will reach a vertical depth of around 8600 feet and then extend horizontally for approximately 4500 feet, after which it will be fracced and completed for production. The Operator has advised it is expected to take 30 days to complete the well.

Drilling updates will be reported every Wednesday in accordance with ASX Listing Rule 3.1

Contact

Brendan Egan
TEL: +61 8 9389 9400
MOB: +61 414 816 716


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