Burleson Energy Limited (ASX:BUR) Wilcox Drilling Campaign Progress Report On The Moeller #1 Well

Sydney, May 18, 2010 AEST (ABN Newswire) - Burleson Energy Limited (ASX:BUR) advises that, as of 2PM on 17 May, 2010 (Texas time), the Moeller #1 well was drilling ahead at a depth of ~11,200 feet (~3,414 metres). The plan is to drill ahead another ~ 3 metres then run electric logs. After logging, intermediate casing will be run and cemented, then drilling will resume to the target objective.

The Moeller #1 is the second of numerous large Wilcox prospects to be drilled in 2010, and is being drilled as a vertical well to a total depth of approximately 12,500 feet (3,810metres).

The Moeller #1 is located in Colorado County , Texas to the South West of the main 3D seismic project area. The Moeller prospect has been mapped using modern 3D seismic as a large stratigraphic trap supported by strong amplitude and AVO anomalies which are strong hydrocarbon indicators. The Moeller prospect has the potential to contain recoverable hydrocarbons of 118 bcf of gas and 2.8 million barrels of associated condensate. Should a discovery of that scale be made, additional wells will be required to develop the field.

In previously drilled wells in the region, the Wilcox sands in this play tend to have high porosity and permeability, so fracture stimulation (fraccing) is generally not required. Analogous wells to the Moeller #1 have recovered up to 20 bcf of gas and 470,000 barrels of condensate with flow rates of 6.3 mmcf of gas per day and 170 barrels of condensate per day.

BUR has a 38.5% working interest in Moeller #1, along with its JV partners New Standard Energy (ASX:NSE) and US-based operator AKG Energy, L.P.

Contact

Mike Sandy Managing Director Tel: +61-2-9450-2002 Fax: +61-2-9986-1753 Email: info@burlesonenergyltd.com www.burlesonenergyltd.com