Anzon Reports Successful Completions at Basker 6 ST1

Since the last Basker 6 ST1 report the weather in Bass Strait has abated and operations to complete the well have continued successfully. The multiple-packer completion has been successfully installed and tested and the subsea tree deployed. As at 0800 hrs on 2 May 2008 the subsea tree was undergoing final testing prior to commencement of cleanup flow activities. Individual zone cleanup tests have been programmed and these are expected to be completed over the coming weekend.

After completion cleanup the well will be suspended in readiness for tie-back to the Crystal Ocean production facilities. Following the production test this weekend, the Ocean Patriot rig will be released to Santos.

The participants in the Basker-Manta Joint Venture are Anzon Australia Limited (Operator, 40%), Beach Petroleum Limited (30%), CIECO Exploration and Production Pty Ltd (20%) and Sojitz Energy Australia Pty Ltd (10%).