Burleson Energy Limited (ASX:BUR) Wilcox Drilling Program Update Joann #1 Well Spudded

Sydney, June 15, 2010 AEST (ABN Newswire) - Burleson Energy Limited (ASX:BUR) is pleased to advise that the Joann #1 well, the third Wilcox well in the current program, has been spudded using the Big 6 drilling rig.

The Joann #1 well is located within the main Colorado County Project 3D seismic area, will target Lower Wilcox reservoir sands and is expected to be drilled to a total depth of approximately 11,750 feet (3,850m).

It is anticipated that the Joann #1 well will take approximately 28 days to drill and complete.

The Joann prospect is similar to the recently drilled Heintschel prospect in that it is targeting a similar play type and has similar pre- drill hydrocarbon estimated volumes. The most likely estimates of recoverable hydrocarbons for the Joann #1 well are 5.5 bcf of gas and 149,000 barrels of condensate within a relatively small structural closure with 4 way dip. However, in a similar vein to the recently drilled Heintschel #1 well, significant upside potential of 42 bcf of gas and 1.14 million barrels of condensate also exists in the event a stratigraphic component is encountered in the well. Additional wells would be required to access those extra volumes should a discovery of that size be made.

Similar to the recently drilled Heintschel #1 well, BUR anticipates the reservoir is likely to require fracture stimulation (fraccing) before flow testing. Several recent discoveries have been made by neighbouring explorers on wells drilling the same Wilcox play immediately along trend from Joann #1 providing further encouragement for drilling the Joann prospect. All of these recent discoveries required fraccing before flow testing and completing the well.

The Joann #1 well is estimated to cost US$875,000 on a dry hole basis and another US$1.64m to complete assuming a successful discovery is made.

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

Further drilling updates will be provided on a weekly basis or more regularly in the event that material information arises that requires disclosure.

Contact

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