Thursday, December 11, 2008

Victoria Petroleum

OIL SHOWS IN GROWLER-5, GROWLER OIL FIELD, PRL 15,

SOUTH AUSTRALIAN COOPER BASIN

Victoria Petroleum N.L. As operator for the PRL 15 Joint Venture advises that at 0600 Hours today, the operation at Growler-5 was drilling ahead in 8 ½ inch hole at 1,780 Metres. Growler-5 is to be drilled to a planned total depth of 1,800 metres. Good oil shows have been observed in the target Birkhead Sandstone over the 24 metre Gross interval from 1,725-1,749 metres. 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 metres.

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

Drilling reports to the ASX for Growler-5 are made on a weekly basis, with additional Releases in the event of significant activity.

The participants in Growler-5 and the Growler Oil Field (PRL 15) and their respective Interests through their wholly owned subsidiaries are as follows;

Victoria Petroleum N.L. (Operator) 40%

Impress Energy Limited 40%

Roma Petroleum N.L. 20%


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