WestSide Corporation Limited (ASX:WCL) Update On Meridian Reserves Expansion Exploration And Production Drilling

Brisbane, Jan 20, 2011 AEST (ABN Newswire) - As Operator of the Meridian SeamGas CSG gas fields, WestSide Corporation Limited (ASX:WCL) is pleased to advise that drilling of the MER02V pilot production well in PL 94 near Moura in the Bowen Basin commenced yesterday.

The MER02V well is the third in a 16-well exploration program designed to increase the Meridian SeamGas joint venture's gross proved and probable (2P) reserves by up to 200 petajoules.

The well spudded at 13:00 hours on 19 January 2011 with Dominion Drilling's DR02 rig drilling ahead toward a final depth of 550 metres, targeting the Baralaba Coal Measures and Kaloola Formation.

WestSide Corporation's Chief Executive Officer Dr Julie Beeby said the Schramm TXD 180 rig had also spudded the first lateral component of the Pretty Plains #10 dual-lateral production well-set on Saturday, 15 January 2011.

"Another rig contracted from EastCore is scheduled to complete the associated vertical connection component of the Pretty Plains #10 within the next week as well," Dr Beeby said.

"We are committed to regaining the momentum we had generated within our drilling program prior to the intervention of wet weather and remain determined as ever to achieve our stated production and reserves targets at Meridian SeamGas as quickly as possible."

Additionally, a work-over rig has this week finalised down-hole operations required to complete and place the Pretty Plains #8 dual-lateral production well set on pump, alongside the new, recently completed Pretty Plains #5 well set.

WestSide will issue regular updates as and when appropriate as the reserves expansion exploration program progresses.

For the complete WestSide announcement including maps and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/65040-ASX-WCL-228315.pdf

Contact

Julie Beeby Chief Executive Officer WestSide Corporation Limited Tel: +61-7-3020-0900 Richard Owen Investor & Community Relations Manager WestSide Corporation Limited Tel: +61-7-3020-0900 Mob: +61-412-869-937 Email: richard.owen@westsidecorporation.com http://www.westsidecorporation.com