WestSide Corporation Limited (ASX:WCL) Grants Mitsui (TSE:8031) Short Deadline Extension To Exercise Farm-In Options

Brisbane, April 1, 2011 AEST (ABN Newswire) - WestSide Corporation Limited (ASX:WCL) has agreed to a short, six-day extension of Mitsui E&P Australia Pty Ltd's (Mitsui) deadline to exercise its options to acquire 49 per cent of the Company's 50 per cent interests in Bowen Basin tenements ATP 688P and ATP 769P.

The deadline has been extended from 31 March 2011 until close of business (Brisbane time) on Wednesday 6 April 2011 to enable the parties to finalise terms.

In March 2010 WestSide and Mitsui announced they would jointly acquire the since renamed Meridian SeamGas CSG fields and that Mitsui would have an option to acquire 49 per cent of WestSide's existing interests in the neighbouring Paranui prospect (ATP 769P) and its new Galilee Basin tenements (ATP 974P and ATP 978P).

The alliance was subsequently expanded in June 2010 to potentially include WestSide's CSG interests in ATP 688P. Mitsui subsequently exercised its option in relation to the Galilee Basin tenements. However, the 31 October 2010 deadline to exercise the Bowen Basin tenement options was then extended until 31 March 2011.

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