Drilling Commences at Vision Chalk Prospect

Ausam announced that drilling has commenced on the Rice University A-393 1H well on its Vision Chalk Prospect in Tyler County, Texas. The well is being drilled by Vision Operating L.L.C. Ausam holds a 12.5% interest in the well through a farmin agreement between its wholly-owned subsidiary, Noram Resources, Inc. and Vision Resources LLC.

Mark Avery, President and CEO of Ausam, stated, "The Company is very pleased to announce the continuation of its currently proposed drilling program in Texas. The Vision Chalk Prospect is part of the planned diversification of our portfolio and we will be monitoring its progress with great interest."