Partial relinquishment report for EL 24914 for the period ending 7 September 2009

Abstract

This Relinquishment Report for EL 24914 offers a summary of activities undertaken on the relinquished area in the past 12 months, including any results produced by these activities. EL 24914 was granted on 8 September 2006 for a term of six (6) years. Tri-Star Energy Company is the sole titleholder and the operator of EL 24914. The work and expenditure program for EL 24914 during its third year consisted of a geological and geophysical review of existing data and information towards determining the location of Permian coats within the Purni Formation and specifically, their depth, thickness, lateral extent and quantity. No field activities were conducted over the relinquished area during the third year however, field activities were conducted over the Project Area (an area consisting of a number of tenures). Tri-Star conducted a seismic acquisition program which consisted of a 14 point seismic survey. None of the seismic points fell within the tenure 24914. Tri-Star reviewed existing data for the permit area and the Pedirka Basin in general to identify and incorporate existing seismic, well and bore data, geology, cadastral information and topography with the 14 point seismic program undertaken over the Project Area. lt has been determined from investigations during the reporting period that there are at least three seismic surveys from the 1960s and 1980s that have seismic lines that occur at least in part on the tenure. The geological investigations, literature research and seismic program over the Project Area during the reporting period has indicated that the Purni Formation and its associated coats do not crop out within the area of EL 24914 but may occur at depth throughout the tenure. Tri-Star has met all work and expenditure commitments for EL 24914 for the third year of the term.