Drillsearch Begins 4-Well Program in Queensland

Drillsearch Energy and Santos will begin a 4-well drilling program in permit ATP 299P located in Tintaburra, southwest Queensland, in November, 2003. The program will comprise the Talgelberry 8 development/appraisal well and 3 near field exploration wells, Mulberry 1, Talgelberry North 1 and Merula 1. These wells are part of an exploration program which will continue in ATP 299P through late 2003 and into 2004.

Drillsearch's Managing Director, Mr. Philip Kelso, said "The Tintaburra block contains significant proved undeveloped oil reserves and exploration up side. It is anticipated these wells will build Drillsearch's oil reserves and its production in south west Queensland".

Santos is operator of the permit.