ImageAnnual Report

M E M O R A N D U M

FROM: JOHN KOPCHEFF DATE: JANUARY 30, 1997

VICTORIA PETROLEUM N.L. QUARTERLY REPORT
FOR THE PERIOD ENDING DECEMBER 31, 1996.

Victoria Petroleum N.L. has scheduled an active drilling programme within Australia over the next twelve months with up to fifteen wells to be drilled. Two major prospects are scheduled to be drilled in the onshore Carnarvon Basin, Western Australia, commencing March, 1997.

The highlights of the report are:

  1. 1. A two well drilling programme in the Carnarvon Basin on the Melanie and White Opal Prospects IN EP 325 AND EP 359, commencing March 1997, subject to environmental approval, with Victoria Petroleum N.L. participating interest from 10% - 20%, representing a further exploration drive into the Carnarvon Basin on the North West Shelf, Western Australia.

  2. 2. Successful offshore Carnarvon Basin farmout resulting in a 4.23% free-carried direct and indirect interest in the Longhorn Prospect, planned to be drilled in third quarter 1997.

  3. 3. Drilling of Heather Downs-1 in the Surat Basin commencing late February, 1997, subject to farmout.

  4. 4. The definition of the 362 billion cubic feet / 207 million barrel Gouaro Prospect, onshore New Caledonia as a major oil and gas prospect for drilling in second half 1997.

  5. 5. The 61% shareholding in NASDAQ publicly listed company, Kestrel Energy, Inc. with estimated oil and gas production for the September 1996 quarter of 206 barrels oil equivalent per day.

  6. 6. Planned participation in up to a 15 well drilling programme in the next twelve months.

Regards,

JOHN KOPCHEFF
MANAGING DIRECTOR
VICTORIA PETROLEUM N.L.

HIGHLIGHTS FOR THE QUARTER

EXPLORATION AND DEVELOPMENT

AUSTRALIA
PAPUA NEW GUINEA
NEW CALEDONIA
KESTREL ENERGY, INC.

Financial

Horiz Line

[ Corporate ] [ Drilling Report ] [ ASX ] [ Quarterly Report ] [ Annual Report ]
[ Permit Inventory ] [ Prospect Drilling Schedule ] [ Farmin Opportunities ]
[ Internet Links ] [ Feedback ] [ Contact ]
[ Home ]