WestSide Corporation Limited (ASX:WCL) Confirms Galilee Foothold With New Exploration Permits

Brisbane, July 21, 2010 AEST (ABN Newswire) - WestSide Corporation Limited (ASX:WCL) has secured a significant foothold in Queensland's coal-rich Galilee Basin with the Queensland Government formally granting two petroleum exploration tenements.

The Company will target Coal Seam Gas (CSG) at the two exploration tenements, ATP 974P and ATP 978P, which cover a combined area of 14,480 km2 in the northwestern part of the Galilee Basin.

Regionally, the Galilee Basin is attracting increasing interest from explorers and producers, with several exploration and appraisal projects already underway. WestSide Chief Operating Officer Simon Mewing said this acquisition represents an opportunity for WestSide to significantly increase its gas reserves in a prospective area of the northern Galilee Basin.

"The Galilee Basin is considered by many to be Queensland's new frontier for CSG exploration," Mr Mewing said.

"Investments amounting to tens of millions of dollars are expected in coming years as industry participants such as AGL move to prove CSG reserves in the region. If successful, the Galilee Basin could become one of Australia's premier onshore gasproducing regions. A material CSG resource in the region could underwrite the construction of pipeline infrastructure to markets in Mt Isa or on the Queensland coast."

WestSide believes the area could contain up to 21 TCF (trillion cubic feet) of gas in place.

An exploration program is planned to commence later this year to identify the extent of the coal resource and its gas content. Successful results from the initial drilling program could lead to up to forty stratigraphic holes being drilled across each tenement in the first four years to prove the extent of the resource and target the certification of gas reserves.

WestSide will issue 3.5 million shares to acquire 100% of the shares of Nazara Pty Ltd (Nazara) which holds the two tenements following a successful bid lodged in mid- 2008. The share issue was approved by WestSide shareholders in November 2009.

For the complete WestSide announcement including Galilee Basin Tenements Maps, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/63350-ASX-WCL-222212.pdf

Contact

Angus Karoll Chairman and CEO WestSide Corporation Ltd Ph: +61-7-3020-0900 www.westsidecorporation.com