Operations Re-Commence at Libra-1 Following Australian Cyclone

Nexus Energy Ltd.

Nexus has advised that on December 30, operations on the Libra-1 exploration well in exploration permit AC/P41 in the Browse Basin, offshore Western Australia, were running wireline logs.

The rig was re-manned over the weekend once the threat of tropical cyclone Billy had passed.

The forward program for the Libra-1 well includes additional wireline logging prior to the well being plugged and abandoned as planned.

Libra-1 has been drilled to a total depth of 3,929 meters true vertical depth sub-sea (TVDSS). The Ocean Epoch semisubmersible rig is drilling the exploration well which is operated by Shell Development (Australia) Pty Ltd (“Shell”) on behalf of the joint venture.