Burleson Energy Limited (ASX:BUR) Wilcox Drilling Campaign Moeller #1 Well Reaches Total Depth

Sydney, June 7, 2010 AEST (ABN Newswire) - Burleson Energy Limited (ASX:BUR) advises that the Moeller #1 well was drilled to total depth (TD) of 12,750 feet (3,886m) over the weekend. Good hydrocarbon shows were noted in the mudlogs around the original anticipated TD of 12,500 feet (3,810mm) and as a result the well was drilled to a slightly deeper total depth. This additional drilling together with slight operational delays on site have meant that electric wireline logging is being undertaken but is currently not complete as at 6am on Sunday 6 June, 2010 (Texas time).

AKG, the US operators and partners in the Moeller #1 well, have advised that logging and log interpretation will be completed as soon as possible following which a decision will be made regarding future operations at the well. Current expectations are that a further update should be available within the next 48 hours.

The Moeller #1 is located in Colorado County, Texas to the southwest 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 up to 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