ImageAnnual Report

VICTORIA PETROLEUM N.L. QUARTERLY REPORT
FOR THE PERIOD ENDING JUNE 30, 1999.


HIGHLIGHTS FOR THE QUARTER

Victoria Petroleum N.L. has scheduled an active drilling program within the USA, New Caledonia and Australia over the next eight months with up to six wells to be drilled. Three prospects in which Victoria Petroleum N.L. has an interest are scheduled to be drilled over the next three months, one in New Caledonia, one in the Carnarvon Basin, Western Australia and one in the USA. These wells will involve Victoria Petroleum N.L. in a three well drilling program through August into October 1999.

EXPLORATION AND DEVELOPMENT

NEW CALEDONIA
AUSTRALIA
PAPUA NEW GUINEA
USA
MIDDLE EAST
KESTREL ENERGY, INC.

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