Vicpet Spies 'Good Oil Shows' at Growler-5

Vicpet, as operator for the PRL 15 Joint Venture, advised that the operation at Growler-5 was drilling ahead in 8-1/2 inch hole at 1,780 meters. Growler-5 is to be drilled to a planned total depth of 1,800 meters.

Good oil shows have been observed in the target Birkhead Sandstone over the 24 meter gross interval from 1,725-1,749 meters. The significance of these oil shows will be evaluated by wire line logs and open hole drill stem test once the well has drilled to the planned total depth of 1,800 meters.

Growler-5 is a development well on the Growler Oilfield targeting the eastern extension of the Birkhead sands oil productive in the Growler Oilfield and currently producing approximately gross 930 barrels of oil per day.