Mining Exploration News - Australia & SE Asia

Lakes Oil N.L. has been advised by Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, that as at 1600 hours California Pacific Daylight Time that the Eagle-1 well was drilling ahead at 4,261 metres in the top of the Lower Gatchell Sandstone oil pay zone. Significant C1 to C4 gas readings with sample fluorescence and cut are being reported but oil shows are being suppressed by high mud weight. On the basis of correlation of gamma ray logs produced whilst drilling with similar logs from the adjacent Mary Bellocchi #1 well, the bit is now being steered vertically down 2.1 metres into the zone of best porosity and oil saturation with maximum flow rates in Mary Bellocchi #1. On reaching this position a horizontal well bore of up to 300 metres is programmed in the reservoir target for subsequent testing.

Eagle No. 1 will be the first well in the Eagle Oil Pool Development Project, a horizontal drilling project targeting potential recoverable reserves of up to 24 million barrels of oil and 62 billion cubic feet of gas.

The Company has discovered a copper and zinc anomaly 3000 metres long and about 200 metres wide at Makuri’s Vlei, 25 kilometres east of Tsumkwe in Namibia.

Results are now to hand from soil sampling work completed at the Company’s Makuri’s Vlei project. The project covers supercrustal rocks belonging to the pre-Damaran Grootfontein Complex. The Complex comprises a broad range of rock types including sediments, schists, intermediate to mafic volcanics and gneissic to undeformed granitoids.

Basemetals/precious metals potential at Makuri’s Vlei was recognised by the discovery of a small exposure of rocks with magnetite-haematite-specular haematite-limonite and copper oxide mineralisation during regional diamond exploration work.

Mineralisation occurs within an interpreted fold closure at least 5 kilometres in length in close proximity to two regional scale faults or structures. Two ENE-WSW trending, strong magnetic high linear features, approximately 3.5 kilometres in length and 1 kilometre apart, occur along the northern limb of the fold closure.

Nineteen soil sampling lines oriented NNW – SSE and varying in length from 1,050 metres to 3,500 metres were designed to cover the northern limb of the fold closure. An additional 1,300 metre long line to the southwest covers the southern fold closure limb. Sample stations were spaced from 25 metres to 50 metres apart along the sample lines. Ground magnetic surveys were also carried out along three of the lines to determine likely dips of the linear magnetic features.

In total 1,400 samples were submitted for analysis. To date, results for 1,089 samples have been received. The majority of the samples were submitted for analysis for Au, Ag, As, Bi, Co, Cu, Mo, Ni, Pb, Sb and Zn by aqua regia/ICP mass spectrometry. Some gold and silver samples were assayed by aqua regia/AAS.

Results of most significance are those for Cu and Zn. The 3,000 metre long by ±200 metre wide coincident Cu and Zn anomaly overlies the southern of the two linear magnetic anomalies. The Cu anomaly is defined by values greater than 50 ppm with a peak value of 140 ppm over a regional background of <20 ppm Cu. The zinc anomaly is defined by values greater than 40 ppm with a peak value of 100 ppm over a regional background of <30 ppm Zn.

A broad, more diffuse anomaly occurs near the southern margin of the soil survey area. Peak values returned are 56 ppm Cu and 940 ppm Zn with a spot value for Au of 22 ppb over a background of <2 ppb Au.

A drilling rig currently on-site will be mobilised from Tsumkwe to Makuri’s Vlei to drilltest the core portion of the geochemical anomaly. The aim of the programme will be to determine the depth of Kalahari soil cover in the vicinity of the geochemical anomaly and to determine the tenor and nature of mineralisation in the underlying host rocks.

Following the recent successes of the drilling program currently in progress, its subsidiary Australian CBM Pty Ltd, has applied for a petroleum production lease (PL) in the Chinchilla area of southeast Queensland. The PL Application Area covers 258 square kilometres and encompasses the successful CBM discoveries at Darvall-1 and Dundee-1.

The PL Application area is located in Queensland Authority to Prospect (ATP) 676P - an asset 100% owned by Australian CBM Pty Ltd (ACBM) (subject to Queensland Gas Company's farm in rights over 9 of the 69 tenement blocks). Arrow owns 55% of ACBM and has an option to acquire the remaining 45%.

The Application includes the justification that payable deposits of petroleum have been discovered within the Application area as well a brief development plan. ACBM will have 100% interest in the PL when it is granted.

A new discovery of copper-gold mineralisation has been made at the Turpentine prospect, four kilometres north west of Eight Mile Creek North at the Company's Hazel Creek project in Queensland.

The drill intercepts are associated with a large and previously untested magnetic anomaly and a coincident electromagnetic conductor.
The mineralisation is interpreted to have an easterly dip, a true thickness of 20 metres and is open to the north, south and at depth (refer cross-section and plan showing magnetic image). The minerlisation is hosted by quartz-magnetite-biotite altered meta-sediments. Depth of overburden is approximately two metres.

The discovery hole, EHRC105, intersected 22 metres grading 1.47% copper and 0.17g/t gold from 16 metres down hole, including 10 metres grading 2.54% copper from 16 metres down hole. Three additional intersections support EHRC105, the best being 30 metres grading 1.74% copper and 0.58g/t gold from 42 metres, including 14 metres grading 2.18% copper and 0.94g/t gold from 42 metres in EHRC142. The higher cut-off grade portions of the intercepts display relatively consistent copper grades.

The good copper and gold grades, the width of the drill intercepts and the shallow depth of cover highlight the potential for an economic deposit at Turpentine.

Further drilling is planned to assess the strike of the mineralisation.

Hardman Resources NL provides the following progress report for the drilling of the Courbine-1A well offshore Mauritania.
Current depth 3,727 metres. Presently conducting BOP tests prior to drilling ahead in 8(1/2) inch hole to the primary objective.

The company has discovered a new zone, now called the Southwest Oyu zone, containing potentially significant porphyry gold, copper and molybdenum mineralization within its Turquoise Hill (Oyu Tolgoi) Project in southern Mongolia.

Recent exploration drilling encountered the hypogene mineralization in extensive quartz stockwork chalcopyrite and bornite sulphides and magnetite, which lies under a broad zone of near-surface copper oxide that is potentially amenable to the SX/EW process to produce cathode copper. Hole OTRCD-150 (035 azimuth at - 55 degrees), Ivanhoe's first deep diamond hole to test the hypogene potential of the Southwest Oyu zone, was drilled to a depth of 590 metres and averaged in excess of one gram of gold per tonne and 0.81% copper over a distance of 508 metres, from 70 metres to 578 metres. It included a zone of 278 metres from 188 to 466 metres, grading in excess of 1.0% copper and approximately 1.50 grams of gold.

Novus Petroleum Ltd is pleased to announce that in a recent Texas State mineral lease auction, held in Austin Texas on 10 July 2001, a total of 32 leases (from 37 bids) were awarded to a joint venture comprising Novus and BNP Petroleum Corp. The gross cost of the leases to the joint venture, in which Novus holds a 30% working interest, will be US$4,116,540.

The Padre Island Project Area comprises an area both onshore and adjacent to Padre Island, South Texas. The new leases are in Texas State waters in the lagoon between Padre Island and the mainland and in very shallow waters of the Gulf of Mexico to the east of the island.

Summit Resources Limited (NZSE;ASX-SMM), have today commenced drilling the first of five diamond drill holes targeted at lead, zinc and copper mineralisation on our Isa North project in northwest Queensland. The project is part of the Isa North Funding and Joint Venture with Noranda Pacific Pty Ltd, the Australian subsidiary of Toronto listed Noranda Inc (TSE;NYSE-NRD) an international mining and metals company.

The drill target is base metal mineralisation in black shale (mine sequence rocks) along the Mount Isa Fault. These rocks to the south host the Isa Copper, Isa Lead Zinc, Hilton and George Fisher Lead Zinc mines below and east of the Mount Isa Fault.

Summit has contracted Century Drilling to initially complete 3,000 metres of drilling. Century's drill rig, a UDR 1000, is located approximately 2.0 kilometres north of MIM's George Fisher Mine and is drilling to the east (see Plan). The hole (INDDH1) is designed to intersect the Mount Isa Fault and then the mine sequence shales below the fault with the target around 300 to 600 metres down hole.

Drilling of INDDH1 is anticipated to take around 10 days. On completion of INDDH1 the second hole will commence immediately with the collar location dependant on drilling results from the current hole.

The Company is pleased to announce that it has reached agreement with Independence Gold NL and Dolphin Resources Pty Ltd for the exploration and mining of manganese ore covering applications for tenements E52/1529 and E52/1530 in return of a payment equivalent to a royalty of 7.5% per tonne of the gross price received by Tuart (based on percentage manganese at world market prices) per tonne of manganese ore shipped.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,245 metres, and drilling ahead.

High Trip Gas readings of 82 units from 4,240 metres were recorded at the resumption of drilling. As the transition zone towards the Second Gatchell Sandstone objective is drilled, increasing C3 and C4 background gases are being observed.

Gatchell Sandstone sample fluorescence interpreted to be indicative of an oil bearing sand, observed to commence at 4178 metres, continued to 4,199 metres measured depth, the interpreted base of the first Gatchell Sandstone and is interpreted to be equivalent to the first Gatchell Sandstone oil zone drilled in the adjacent vertical Mary Bellocchi#1 well bore.

Although the first Gatchell Sandstone is not the primary target for the horizontal well, its presence and the successful predicted correlation with the adjacent original Mary Bellocchi#1 well bore, provide encouragement for the presence of the Second Gatchell Sandstone as a valid potentially oil bearing target for the horizontal well bore planned to be drilled in this zone.

Directional drilling towards the Second Gatchell Sandstone zone primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257-4557 metres Measured Depth (MD) is programmed for the Second Gatchell Sandstone zone. The well is planned to be drilled to a measured depth of 4557 metres.

Drill rig JD1 moved from Darvall-1 to set up at the Dalmane-1 drill site located about 4 kilometres northeast of Dundee-1.

Darvall-1 reached total depth of 245 metres on Friday July 13. The well was cased and cemented to 70 metres on Saturday July 14. On Monday, July 16, a post drilling final flow test of the hole was carried out to test the various coal seams packages encountered during drilling. These included thick seam packages between 160 and 193 metres and 228 and 243 metres as well as the shallower Macallister coal seam package between 76 and 129 metres reported earlier. A flow test of the entire hole yielded gas to surface in 1.5 seconds followed by water at high rates. On a (1/8) inch choke, the water flowed at 65 kilopascals. A second test run with the choke removed resulted in surging water and gas flows that did not stabilise.

A third test whereupon the drill pipe was moved up to 194 metres had gas to surface in 50 seconds and gas and water after 3 minutes and flowed up to 40 kilopascals before the pressure dropped to zero due to water suppression of the gas.

Commonwealth Bank of Australia increased its relevant interest in Australian Worldwide Exploration on 12/07/2001, from 17,364,668 ordinary shares (9.02%) to 36,829,199 ordinary shares (19.13%).

The Australian Worldwide Exploration group advises that the Limestone Ridge-1 well in PEL32 in the Otway Basin, South Australia, spudded on 12 July and as at 0800 hours on 17 July, the well was drilling ahead at 1750m towards the Pretty Hills Sandstone objective at approximately 2750m.

Bligh Oil & Minerals reports that the Kauri-1 is at a depth of 4,350 metres. The current operation is running back in hole following a bit change. Drilling will continue in 8(1/2)" hole towards the proposed target depth of 4,500 metres.

Civil engineering works for the Rimu production facilities are proceeding. Site earthworks and the laying of flowlines from the A and B pads to the production facility site are underway. The initial stage of the production facilities are designed to handle 3,500 bopd and 10mmcf/d of gas, and are planned to be commissioned during the fourth quarter, 2001.

Extended production testing of the Rimu A and B pad wells commenced in April, and is ongoing. The Rimu A3 Tariki sandstone has been acid treated to remove formation damage suffered by the reservoir during drilling operations. Flow testing of the well following the acid treatment has commenced.

A production-casing string has been run in the Langford 25 #3H-TXV well in Hardeman County Texas. The Langford re-entry horizontal was designed to penetrate a seismically defined Mississipian mound some 256 feet above the lowest known oil based on existing well control.
The actual drilling data now to hand suggests that this prognosis is correct with the actual intersection being 305 feet above the drill defined lowest known oil.

This was evidenced while drilling in the directional hole at 8,295 feet when the well experienced a drilling break indicating a zone of porosity and permeability that caused the mud system to lose circulation. The Operator observed the drilling rate, upon entering this zone, increased to two feet per minute, indicating the target fracture zone has been penetrated.

Paterson drilling rig #33 has been released and a completion rig is due on location within two weeks to enable completion and testing of the well.

Project operator, Anglo American Australia Pty Ltd, has advised that it has received complete assays from the recently completed drilling program on the Company's Black Shale Lead-Zinc project at Ravensthorpe.
The drilling was designed to test the 5km long lead-zinc anomaly generated by soil and auger sampling.

A program involving 15 RC holes, including 3 diamond tails, was completed. The most significant result was obtained in the Bandalup Gossan area in diamond tail BDRCD 001, which was drilled behind and below the previous intersection in BGD 1 (36.6m @ 1.09% Zn and 1.07% Pb, including 5.4m @ 2.62% Zn and 2.31% Pb).

Hole BDRCD 001 intersected 45m @ 1.32% Zn and 0.79% Pb from 226 to 271m, including 2m @ 5.17% Pb and 2.46% Zn, and 3m @ 3.09% Pb and 4.9% Zn (Fig 1).

Observations from the core indicate the mineralisation is structurally controlled. This observation is supported by the results of an airborne Electromagnetic (EM) survey, which shows the area to the north of the above two holes as being structurally complex.

The remainder of the RC drill holes intersected anomalous Pb-Zn values generally below and confirming previous anomalous values from RAB drilling. None of the RC intersections warrant follow-up at this stage.

A program involving detailed structural field mapping and structural logging will commence in August, concentrating initially on the Bandalup Gossan or BGD 1 area as a precedent to further drilling to test the associated EM anomalies.

Matrix Oil NL today announced plans to drill up to two new wells before Christmas aimed at substantially increasing reserves in its highly prospective Asahan and Glagah-Kambuna contract areas in the Malacca Straits, offshore North Sumatra.

Technical Director, Mr Phil Davies, believes that field sizes of 200-400mmb of oil and 1-2 TCF of gas are possible. "One of the reasons we are excited about this area is that, for the first time, we have been able to integrate the seismic work of both the Glagah/Kambuna and larger Asahan contract areas" he said. To date, a total of 28 prospects have been identified in the combined contract areas.

Rimfire have signed a Heads of Agreement to conduct exploration and resource evaluation of the extensive zeolite deposit on EL 5866 at Currabubula 30 kilometres southwest of Tamworth in New South Wales.
Initial investigations indicate that the zeolite, clinoptilolite, which is present within the licence area, is in increasing commercial demand.

Under the terms of the Agreement entered into with Mr Tony Paola of Currabubula Holdings Pty Ltd (the exploration title holder and landowner) Rimfire will earn a 50% interest in the tenement by conducting a mining feasibility and marketing study of the deposit and setting up a mining operation. The difference between the expenditure thus accrued and a valuation at 10% of the resource plus freehold of any proposed mining area will be made up from production proceeds to bring each party to a 50% holding in a joint venture arrangement.

Rimfire geologist, Terry Harbort, will be on site to commence resource drilling on the 20 July 2001.

The Agincourt-5H development well commenced drilling at 01.30 hours on 17 July 2001.

The surface location for the well is in TL/6, being 6.5 kilometres west of Varanus Island, at latitude 20deg40'12.45"S and longitude 115deg30'46.74"E. The well will be deviated to intersect the reservoir immediately north of the Agincourt-1 well and extend approximately 900 metres horizontally through the reservoir in a northeast direction.

As at 6.00am today, the well has drilled ahead to 98 metres measured depth.

The well will continue to drill ahead to the planned total depth of 3,620 metres measured depth (1,815 metres true vertical depth). It is anticipated to take 20 days to complete drilling operations.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,240 metres, and drilling ahead. Gatchell Sandstone sample fluorescence interpreted to be indicative of an oil bearing sand, observed to commence at 4178 metres, continued to 4,199 metres measured depth, the interpreted base of the first Gatchell Sandstone and is interpreted to be equivalent to the first Gatchell Sandstone oil zone drilled in the adjacent vertical Mary Bellocchi#1 well bore.

Although the first Gatchell Sandstone is not the primary target for the horizontal well, its presence and the successful predicted correlation with the adjacent original Mary Bellocchi#1 well bore, provide encouragement for the presence of the Second Gatchell Sandstone as a valid potentially oil bearing target for the horizontal well bore planned to be drilled in this zone.

Directional drilling towards the Second Gatchell Sandstone zone primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257 - 4557 metres Measured Depth (MD) is programmed for the Second Gatchell Sandstone zone. The well will be drilled to a measured depth of 4557 metres.

Woodside Petroleum Ltd, Operator of the Mauritania, Area B Joint Venture, reports that the Courbine-1A ST1 well is at a depth of 3727 metres and is currently cementing 9(5/8) inch casing.

Lakes Oil N.L. has been advised by Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, that as at 1600 hrs on 15 July, 2001, California Pacific Daylight Time the well is continuing to slowly drill ahead from 4,231 metres building final angle (now 3 degrees from horizontal) in transition zone to Lower Gatchell Sandstone oil pay. C1 to C4 gas readings reported, no shows as yet. Top of oil pay predicted at 4,257 metres. The hole is in survey and is now being steered to be horizontal (90 degrees) at revised target depth of 4,257 metres in Lower Gatchell Sandstone. A horizontal well bore of up to 300 metres is programmed in the reservoir target at 4,257 metres depth for subsequent testing.

Eagle No. 1 will be the first well in the Eagle Oil Pool Development Project, a horizontal drilling project targeting potential recoverable reserves of up to 24 million barrels of oil and 62 billion cubic feet of gas.

EPP24, OFFSHORE, SOUTH AUSTRALIA

Discussions are continuing with several interested parties regarding the possible farm-in to the permit which, if successful would result in Lakes having a reduced interest (currently 100%), but would also have the effect of reducing Lakes capital commitments.

PEP 155, PEP156, PEP 157 AND PEP 158, ONSHORE GIPPSLAND BASIN, VICTORIA

Investigations have continued on the possibility of fracturing tight sands encountered in recently drilled North Seaspray-1, Trifon-1 and Gangell-1 wells.

Samples of the Strzelecki Formation have been sent to USA for analysis, results are still awaited. Initial permeability and porosity results, when compared with USA tight sands which are currently being stimulated by fracturing would appear positive, however confirmation of this comparison by actual laboratory analysis will be needed.

Should these results continue to be positive, Lakes plans re-open all three wells, run additional logs and re-test the wells after fracturing the formation.

Cue Energy announces that the SEG-10 well spudded at 6:30 pm on 15th July 2001.

The SEG-10 well will be drilled as a deviated hole from the SEG-2 well pad to a bottom hole location approximately 700 metres ENE of the SEG-2 well. SEG-10 will provide an additional oil production point in the SEG-2 fault segment of the field.

The well is expected to take approximately 50 days to drill and complete.

Hardman Resources NL provides the following progress report for the drilling of the Courbine-1A well offshore Mauritania.
Current depth 3,727 metres. Cementing 9(5/8) inch (244mm) casing prior to drilling ahead in 8(1/2) inch hole to the primary objective.

Union Capital Limited announces that further encouraging infill drilling results have been returned from the East Ridge area of the Mehdiabad Zinc Project in Central Iran. The results from Hole's 7924, 7926, 7928 and 7932 further define, upgrade and generally support the zinc resource identified in this area.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,231 metres, and drilling ahead. Gatchell Sandstone sample fluorescence interpreted to be indicative of an oil bearing sand, observed to commence at 4178 metres, continued to 4,199 metres measured depth, the interpreted base of the first Gatchell Sandstone and is interpreted to be equivalent to the first Gatchell Sandstone oil zone drilled in the adjacent vertical Mary Bellocchi#1 well bore.

Although the first Gatchell Sandstone is not the primary target for the horizontal well, its presence and the successful predicted correlation with the adjacent original Mary Bellocchi#1 well bore, provide encouragement for the presence of the Second Gatchell Sandstone as a valid potentially oil bearing target for the horizontal well bore planned to be drilled in this zone.

Directional drilling towards the Second Gatchell Sandstone zone primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257 - 4557 metres Measured Depth (MD) is programmed for the Second Gatchell Sandstone zone. The well will be drilled to a measured depth of 4557 metres.

Further drilling will begin within weeks as part of early development planning in exploration permits off south-western Victoria, following significant gas discoveries earlier this year.

Woodside Energy Ltd, Origin Energy Resources Limited, and Benaris International NV have approved the drilling of the Thylacine-2 appraisal well in permit T/30P in the Otway Basin in late July-early August.

The joint venture discovered the Thylacine gas field in this permit with their first exploration well, drilled in May this year.

Woodside, Origin, and CalEnergy Gas (UK) Ltd, joint venture participants in the neighbouring permit, VIC/P43, are considering plans for the early drilling of an additional well to follow-up their gas discovery at Geographe, about 15km north-east of Thylacine. The Geographe-1 gas discovery was made in June.

The Ocean Bounty drilling rig, which made both discoveries, is expected to return to the Otway Basin for the drilling campaign in late July-early August.

Woodside's General Manager South East Australian Gas, Barry Adams, said the joint venture parties were excited by the discoveries and were looking forward to further exploration and the start of appraisal work.

At 12:00 PM today Darvall-1 was at 237 metres and is planned to reach total depth of 250 metres at 2:00 PM. Wireline logs will be run prior to running casing tomorrow.

Casing will be set to 70 metres above the Macalister coal seams where 7 metres of net coal with good gas shows are interpreted over the interval from 76 to 129 metres. Gas flows of 8000 cubic feet per day with water flows ranging from 1494 to 3300 barrels per day were recorded. Arrow interprets that the high water flows have suppressed the gas flows and believes that following dewatering, the coal seams should produce at commercial flow rates.

Given the success of the first two wells of Arrow's current drilling program in the Chinchilla area, Arrow has decided to drill at least one additional well in the area. The well, called Dalmane-1, is to be located 4 kilometres northeast of the Arrow's successful CBM well, Dundee-1 (see Figure 1). Dalmane-1 will be drilled to a total depth of 240 metres and is prognosed to intersect the Macalister, Wambo/Iona and Argyle coal seams that yielded gas flows totalling 122,000 cubic feet per day in Dundee-1. Dalmane-1 has been sited on the same structural trend as Queensland Gas Ltd's Argyle CBM gas field located 20 kilometres to the southwest. The well is expected to spud late next week.

Dundee-1, Darvall-1 and Dalmane-1 are located in Queensland Permit ATP 676P - an asset 100% owned by Australian CBM Pty Ltd (ACBM) (subject to Queensland Gas Company's farm in rights over 9 of the 69 tenement blocks). Arrow owns 55% of ACBM and has an option to acquire the remaining 45%.

Hardman Resources NL provides the following progress report for the drilling of the Courbine-1A well offshore Mauritania.

Progress (24 hours to 14.00 hours WST 12 July 2001):
Current depth 3,727 metres. Presently preparing to cement 9(5/8) inch (244mm) casing and test BOP stack prior to drilling ahead to the primary objective.

Origin Energy Resources Limited as Operator of PEL 32 advises that the exploration well Balnaves 1 which spudded at 4am on Sunday 10th June 2001 was plugged and abandoned on 8th July 2001.

Following rig release from Balnaves 1, OD&E Rig 30 has now moved to drill Limestone Ridge 1 also Located in exploration permit PEL 32 in the onshore Otway Basin of South Australia. Limestone Ridge spudded at 6pm on Thursday 12th July 2001 and is located on a separate and previously undrilled structure, approximately 6.5 km west of the Katnook gas field.

Origin Energy today announced that it has made an equity placement to institutional investors raising $125 million in new capital.
Origin also intends to make an offer to all shareholders under a Share Purchase Plan following the release of its annual results on 27 August 2001.

Origin Energy Resources Limited* as Operator of L11 advises that the exploration well Beharra Springs North 1 spudded at 3pm on Thursday, 12 July 2001.

Beharra Springs North 1 is located in Production Licence L11 in the onshore Perth Basin, Western Australia. The well is located on a previously undrilled structural closure, approximately 3.5km north of the Beharra Springs gas field.

The well has a planned total depth of 3445 mRT. The primary objective is the reservoir section of the Wagina Formation, which is prognosed to be intersected at a depth of 3304 mRT.

At 7:10am Friday, 13 July 2001, the well was drilling ahead at 380 mRT in the Yarragadee Formation.

Anglovaal Mining Limited (Avmin) has advised Sub-Sahara of its corporate decision to withdraw from certain "greenfields" exploration and acquisition activities. As a consequence, Avmin has terminated the Strategic Alliance and the Jubilee Reef Joint Venture with Sub-Sahara effective from the 30 September 2001. The Nyanzaga Joint Venture will remain in force.

Both Sub-Sahara and Avmin regret that the alliance will not proceed as originally envisaged. However, about US$638,000 (A$1.24m) has been contributed by Avmin to Sub-Sahara by share subscription and exploration expenditure on Sub-Sahara's projects since the inception of the alliance in January 2001.

As part of the termination obligations under the alliance, Avmin will pay to Sub-Sahara an additional US$125,000 (A$242,000), representing Avmin's pro-rata generative and alliance commitment to 30th September 2001.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,199 metres, and drilling ahead. Gatchell Sandstone sample fluorescence interpreted to be indicative of an oil bearing sand, observed to commence at 4,178 metres has continued to 4,199 metres measured depth, the interpreted base of the first Gatchell Sandstone and is interpreted to be equivalent to the first Gatchell Sandstone oil zone drilled in the adjacent vertical Mary Bellocchi#1 well bore.

Although the first Gatchell Sandstone is not the primary target for the horizontal well, its presence and the successful predicted correlation with the adjacent original Mary Bellocchi#1 well bore, provide encouragement for the presence of the Second Gatchell Sandstone as a valid potentially oil bearing target for the horizontal well bore planned to be drilled in this zone.

Directional drilling towards the Second Gatchell Sandstone zone primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257-4557 metres Measured Depth (MD) is programmed for the Second Gatchell Sandstone zone. The well will be drilled to a measured depth of 4557 metres.

QUEENSLAND GAS COMPANY (12 JULY 2001)

WEEKLY DRILLING REPORT

In the last week, the following developments occurred on QGC operated wells:

Berwyndale #1

Desorbtion of coal cores commenced.

Lawton # 2

Desorbtion of coal cores continued.

Pinelands #2

Desorbtion of coal cores commenced.

Bellevue #1

Desorbtion of coal cores commenced.

MuNulty #1

Coring operations finished. Well logged and completed and desorbtion of coal cores commenced.

Broadwater #1

Coring operations finished. Well logged and completed and desorbtion of coal cores commenced.

Lawton #1

Dewatering operations continued.

Avon Downs #1

Dewatering operations continued.

Berwyndale #1

Dewatering operations continued.

Significant results have been received from drilling on the Crown structure at Cracow.

Drilling has intersected high-grade gold mineralisation in CBK048, above that previously reported in CBK021 (18.9m @ 4.3gAu/t) and CBK031 (8.9m @ 4.1gAu/t). (See section attached).

			Grid North
CBK048	9.5 metres @ 15gAu/t	[372.5 - 382 metres downhole]	5750
	including 2.7 metres @ 47gAu/t
	6.6 metres @ 6.6gAu/t	[392 - 398.6 metres downhole]
	including 1 metre @ 21gAu/t
	15.2 metres @ 2.3gAu/t	[426.8 -442 metres downhole]

An infill hole CBK046, provides further indication of the gold mineralisation over a vertical extent of 300 metres and significant width in the zone between 1850 and 1950mRL on grid 5800mN.

			Grid North
CBK046	18.4 metres @ 9.2 gAu/t	[461.7 - 480.1 metres downhole]	5800
	including 4 metres @ 25gAu/t

In addition CBK038 has returned 1 metre @ 1.1gAu/t from 452 to 453 metres downhole on grid 5500mN.

High-grade gold mineralisation is contained both in single and multiple zones of veining in the Crown structure, which remains open along strike and above and below the area currently drilled.

Cue Energy Resources Limited (Cue) announces that at 6am 12th July 2001, the Oyong-2 well in the Sampang PSC offshore East Java, was at a depth of 1500 metres and was running intermediate wireline logs, prior to running a 11(3/4)" liner. The well is programmed to a total depth of 2280 metres.

Hardman Resources NL provides the following progress report for the drilling of the Courbine-1 A well offshore Mauritania.
Current depth 3,727 metres. Presently setting 9% inch (244mm) casing prior to drilling ahead to the primary objective.

Kagara Zinc Ltd is pleased to announce the assay results of the fifth exploration hole KVD39 drilled at its King Vol prospect in north Queensland.

The intersection of 3.93 metres (approximately 2.5 metre true width) assaying 31.93% Zn and 1.77% Cu is the highest grade so far encountered at King Vol and highlights the potential for this deposit to provide additional high grade feed to the proposed processing facility at Mt Garnet.

The sixth hole KVD41 completed today has intersected a 4.2 metre zone of high grade zinc mineralisation.

KVD39 was drilled to the east on line 5050N at a dip of 65deg and encountered the mineralised zone from 349.25 metres to 353.18 metres.
The intersection occurs at a vertical depth of approximately 320 metres and lies 70 metres vertically beneath previously drilled KVD24 (4.3 metres at 26% Zn) and 40 metres south of KVD13 (18.83 metres at 25.6% Zn).

Because of the success of the current programme, an additional four holes will be drilled at King Vol to further define the extent of the high grade eastern zone mineralisation.

This morning at 6.00 am Eastern Standard Time the Churchie No 1 well was spudded. The well is being drilled on a new prospect developed by Mosaic Oil and Santos following a seismic survey last year.

Proposed Total Depth is 2,220 metres.

Gulugaba No 01, a coal seam methane exploration core hole, is situated approximately 10 kilometres south south east of Tin Hut 01, latitude 26 deg 18 min 35.13 sec south, longitude 150 deg, 07 min 30.26 sec east. The well was spudded at 14:00 hours on July 01, 2001. The well was cored from 360 to 440 metres. At 06:00 hours today the well was at a depth of 453 metres and the rig was conventionally drilling ahead. 168 mm surface casing was set at 96.0 metres RT.
Progress for the week was 93 metres.

A total of four drillstem tests were performed, producing formation water.

The primary targets of the well are the Taroom coal measures.
Proposed total cored depth of the well is 465 metres RT.

Oil Search reports that the Moran-6 well, an appraisal/development well in the Moran Central oil field, is currently drilling ahead in 12(1/4)" hole at a measured depth of 1,275 metres. During the week, 13(3/8)" casing was run and cemented. Progress for the week was 55 metres.

The Parker Rig 140 has been mobilised and is currently being transported to the SE Gobe-2 well pad in preparation for the drilling of SE Gobe-10. The rig is currently 80% rigged-up and is expected to spud early next week.

PlatSearch NL ("PlatSearch") and Peninsula Exploration Pty Ltd ("Peninsula") have signed an Option Joint Venture Agreement with a wholly owned subsidiary of Inco Limited ("Inco"), a major Canadian mining company, to explore the Coondambo property EL 2819 located in South Australia.

The agreement requires Inco to complete, as a minimum commitment, a drill hole test of a large gravity anomaly defined by earlier work.
Inco can earn a 60% interest in the tenement by completing expenditure of $1,000,000. PlatSearch and Peninsula can then each participate with a 20% interest or each convert to a 10% interest which is free carried to completion of a positive bankable feasibility study. PlatSearch and Peninsula can then each fund their 10% share or convert to a 1% net smelter return royalty. PlatSearch will be the operator until Inco earns a 66% interest.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,188 metres, and drilling ahead. Gatchell Sandstone sample fluorescence interpreted to be indicative of an oil bearing sand was observed to commence at 4178 metres and is interpreted to be equivalent to the first Gatchell Sandstone oil zone drilled in the adjacent vertical Mary Bellocchi#1 well bore.

Although the first Gatchell Sandstone is not the primary target for the horizontal well, its presence and the successful predicted correlation with the adjacent original Mary Bellocchi#1 well bore, provide encouragement for the presence of the Second Gatchell Sandstone as a valid potentially oil bearing target for the horizontal well bore planned to be drilled in this zone.

Directional drilling towards the Second Gatchell Sandstone zone primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257-4557 metres Measured Depth (MD) is programmed for the Second Gatchell Sandstone zone. The well will be drilled to a measured depth of 4557 metres.

In April GCR announced it had entered into an agreement with Orchid Capital Limited (Orchid) to purchase Orchid's 100%-owned subsidiary Challenger NL for 6 million GCR shares and $50,000. On completion of the purchase Challenger will own all the assets comprising the Adelong Gold Project including the mining lease, exploration licence, security bonds, freehold land, buildings, and the mining and processing equipment.

The Adelong Gold Project has inferred resources totalling 1.3 Mt at 2.9 g/t gold containing 121,000 oz of gold. The resources of the Challenger and Challenger Extended zones, lying within the mining lease, are 796,000 tonnes at 3.0 g/t gold containing 76,800 oz.

GCR is targeting higher-grade resources at Challenger Extended for initial mining operations. During June a total of 16 RC drill holes were completed for a total of 590m, reducing the drill spacing from 20m to 10m and thereby increasing the reliability of the resource. All holes were drilled at an angle of between 45 and 60 degrees and an azimuth of 90 degrees.

The best intersection, 10m at 5.0 g/t gold from 53m, was the deepest intersection, revealing:

Anvil Mining NL ("Anvil") is pleased to announce it has taken a major step towards developing its Dikulushi copper-silver project in the Democratic Republic of Congo ("DRC") after agreeing financing terms today with RMB Resources Ltd ("RMB Resources"), part of the Rand Merchant Bank Group of South Africa.

RMB Resources will provide an immediate Equity Subscription of A$200,000 and a Mobilisation Facility of A$800,000 in order to initiate the pre-implementation work on the project. In addition, Anvil and RMB Resources have agreed on the commercial terms on an "in principle basis" for a further US$4.5 million Project Financing Facility. It is anticipated this funding package together with the Company's liquid assets will be sufficient to see the Dikulushi project move into production as a Heavy Media Separation operation by the third quarter 2002.

Drilling at Bendigo recently intersected 2.4 metres of reef within the S4 ribbon containing 9 pieces of visible gold with an estimated grade of +100g/t Au. This is a continuation of the spectacular intersections recorded at Bendigo in drilling and are related to the presence of abundant coarse gold.

Managing Director, Doug Buerger, said: "Bendigo Mining has identified the high-grade ore zones on the Deborah and Sheepshead lines of reef as indicated in the geological model. The results are excellent and many intersections exceed the grades used in the Company's conceptual mining plan".

The results of preliminary metallurgical testing have also been positive with initial results indicating recoveries of 99%, with 85% recovery by simple gravity processing and then an additional 14% from sulphide flotation. Comprehensive metallurgical testing is currently underway to confirm the preliminary results.

Mr Buerger said: "Based on these preliminary results Bendigo Mining has the opportunity to develop a major gold mine without the use of cyanide in the main recovery circuit".

CityView Corporation Limited ("CityView") advises that its Joint Venture partner PT Medco Energy Corporation TBK ("Medco") has advised that a rig will be deployed mid August from its present Sumatran work location to Madura for the drilling of Sebaya in which CityView holds a 25% interest.

The first well to be drilled at Sebaya will be to the relatively shallow depth of 1,230 meters, which Medco estimates should contain approximately fifty million barrels of recoverable oil from two separate formations. The significance of the Madura area is best exemplified by the report in The Analyst Energy Review which can be viewed at www.cityviewcorp.com under "Publications".

Equinox announced the approval by financiers of facilities totalling A$17.5 million (US$3.0m + Euro 7.0m) to be applied towards the funding of a Bankable Feasibility Study ("BFS") on the Company's Lumwana Copper Project in Zambia. The International banks that will participate in the finance package are RMB Resources Limited ("RMB Resources") and the European Investment Bank ("EIB").

The Lumwana Pre-feasibility Study conducted by Bateman Engineering Pty Ltd ("Bateman"), announced on 30 November 2000, proposed that Lumwana could produce about 102,000 tonnes of copper per year over a 24-year mine life, with significant gold, uranium and cobalt credits. Financial analysis by Bateman indicated that the Lumwana Project had robust economics. At a copper price of US$0.90/lb Cu, the after-tax Net Present Value (at 10%) is A$400 - 670 million, with internal rates of return of 21.3 - 29.2%. Subsequent to the Pre-feasibility Study, consideration has been given to the on-site processing of metal from concentrates, which further improves the project economics.

Golden State announced the results from the first phase of its 2001 laterite nickel drilling program at Menzies.
In addition the Company has invested in it's partly owned company Ezyimage Ltd's Initial Public Offering.

MENZIES NICKEL PROJECT HIGHLIGHTS
Drilling of the Menzies Nickel Project has identified:

Hardman Resources NL provides the following progress report for the drilling of the Courbine-1A well offshore Mauritania.

Current depth 3,727 metres. Presently completing acquisition of wireline logs prior to setting 9(5/8) inch (244mm) casing and drilling ahead to the primary objective.

A number of PlatSearch's key prospects have advanced to the drilling stage. Four of these projects, Callabonna, Mirikata, Lilleyvale and Toby, are being funded by joint venturer Inco Limited.

At the Callabonna project, a deep drillhole to test a large magnetic anomaly located on the northern margin of the Curnamona Craton is well advanced. Previous work in this region has highlighted its potential for Olympic Dam style mineralisation. Drilling through the overlying cover sequence has been completed and the hole has reached Proterozoic basement at 440 metres depth. A second drilling contractor will commence core drilling shortly.

At the Mirikata project drilling is scheduled to commence in the third week of July 2001. This drillhole will test a large magnetic anomaly located on the eastern margin of the Gawler Craton. The anomaly is considered to represent a large ironstone system with potential for associated base and precious metals.

Native title site clearance has been completed at the Toby prospect located on the northern margin of the Gawler Craton near Oodnadatta. Field work is expected to commence in late July/early August. Following the completion of ground magnetic surveys drilling will test a magnetic anomaly target considered to have potential for Olympic Dam style mineralisation.

Analyses for a wide range of elements have been received for all core samples from 574 to 777 metres depth in Hole LIL-001 at the Lilleyvale prospect. These analyses are in addition to the previously reported (May 2001) anomalous results for selected samples (up to 1.2 metres at 1.45% copper and 1.07 g/t gold). The results confirm that the system intersected by LIL-001 is geochemically anomalous for a range of metals over substantial widths, including copper (44 metres at 2,245 ppm), gold (25 metres at 175 ppb), silver (47 metres at 1.1 ppm), cobalt (90 metres at 241 ppm) and molybdenum (50 metres at 4.9 ppm), underlining the large size and complexity of this mineralised system. Selected core samples have been forwarded for petrological studies. All of the Lilleyvale results will be reviewed by the joint venture in August 2001 to plan the forward programme.

Joint venturer Triako Resources is scheduled to commence a programme of three RC percussion drillholes at the Southern Cross project at Broken Hill during the second week of July 2001. Previous drilling at this prospect obtained encouraging intersections of lead-zinc-silver mineralisation including 3 metres at 0.95% lead and 8.92% zinc.

The current high level of activity on PlatSearch's areas stems from the company's commitment and ability to identify exploration targets with potential for world class mineral deposits and advance them to the drilltest stage.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,175 metres, and drilling ahead.

Directional drilling towards the primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257 - 4557 metres Measured Depth (MD) is programmed.
The well will be drilled to a measured depth of 4557 metres.

Bligh Oil & Minerals reports that the Kauri-1 is currently drilling ahead in 8(1/2)" hole at 4,078 metres, towards a proposed target depth of 4,500 metres.

Operations are continuing on the Langford 25 #3H-TXV well in Hardeman County Texas using Paterson Rig #33. The well is drilling in directional hole at a measured depth of 8,030 feet. The primary target is estimated at a measured depth of 8,527 feet (approximately 8,316 feet true vertical depth).

Plans call for the Langford "25" well (drilled by Ensearch in 1984) to be re-entered and a new hole to be directionally drilled to a kick off point in the lower Chester for a high angle horizontal drain hole in the Upper Chappel.

Tawana has entered into a two-stage option agreement with De Beers Australia Exploration Limited ("De Beers") for a total 51% interest in the Flinders Island Diamond Project. Under the option agreement arrangement De Beers has completed a due diligence exercise of all TAW exploration data relevant to the Project. Exploration data and results reported previously have been significant.

De Beers is a world leader in exploration, exploitation/mining, and marketing of diamonds.

TAW holds an option to acquire 100% of the Flinders Island Diamond Project from Orogenic Exploration Pty Ltd.

The Flinders Island agreement represents the second important transaction between TAW and De Beers, which holds 500,000 shares in TAW. The first involved TAW's right to purchase 100% of the Timber Creek Diamond Project, Northern Territory, Australia including the high grade TC-01 kimberlite, which, as reported in the TAW Prospectus, during exploration yielded in excess of 100 cpht. De Beers retains the right to buy back 70% of the equity in the Timber Creek Diamond Project.

Titan has successfully tendered for one of the four groups of tenements involved in the sale by WMC of some of its Kambalda nickel interests.

The property, known as the North Widgiemooltha Block, consists of 10 contiguous Mining Leases and 3 Prospecting Licences, and a mining lease application, with a total area of 85.6 square kilometres, located approximately 25 kilometres south-West of Kambalda. Previous production from two mines within the tenements (Mt Edwards and 132N) has aggregated 986,750 tonnes at an average grade of 2.75% nickel. These two mines have been closed and rehabilitated.

The consideration paid by Titan to WMC was $515,000 cash plus a 1 percent royalty on the value of production from the tenements. Some of the leases are subject to various existing royalty agreements which will be assigned by WMC to Titan.

Further to announcements of 18th and 23rd May 2001, where very thick intersections of zinc mineralisation were reported from drill holes 7931 and 8001 located at the southern end of the Black Hill Resource Area, Union Capital Limited ("Union") advises that more recent assay results from drill holes located further south, show that the mineralisation continues and is still open in that direction. The ultimate potential size of this world class zinc deposit is still to be determined.

In Hole 8009 located 100 metres to the south of Holes 7931/8001, 120 metres of zinc mineralisation at an average grade of 5% Zn has been intersected from 78-198 metres. This intersection is made up of 92 metres of oxide ore at a grade of 4.81% Zn, and 28 metres of sulphide ore at a grade of 5.8% Zn. The presence of higher grade oxide mineralisation is encouraging as it allows the possibility of in-pit blending with lower grade oxide zones encountered in Holes 7931/8001.

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,164 metres, and drilling ahead.

Directional drilling towards the primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257 - 4557 metres Measured Depth (MD)is programmed.
The well will be drilled to a measured depth of 4557 metres.

Woodside Petroleum Ltd, Operator of the Mauritania, Area B Joint Venture, reports that the Courbine-1A ST1 well is at a depth of 3727 metres and is currently running wireline logs in a 12(1/4) inch hole, prior to running the 9(5/8) inch casing.

Woodside Petroleum Ltd the Operator of the WA-1-P Joint Venture, reports that the Patriot-1 exploration well located in the Carnarvon Basin spudded on 5 July 2001. Since spud, both 13(3/8) inch and 9(5/8) inch casing strings have been run, landed and cemented. On 10 July 2001, the well was drilling ahead in the 8(1/2) inch hole section at a depth of 1550 metres.

The location is approximately 100 kilometres north of Dampier on the North West Shelf of Western Australia. Apache Energy Limited are drilling the well on Woodside's behalf with the ENSCO 56 jack-up drilling rig. Water depth at the location is approximately 45 metres. Planned total depth is 2292 metres.

Lakes Oil N.L. has been advised by Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, that the Eagle-1 well is at a depth of 4,150 metres, and drilling ahead.

Directional drilling towards the primary objective and horizontal well section commenced at 3,980 metres, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4,257 – 4,557 metres is programmed. The well will be drilled to a measured depth of 4,557 metres.

Eagle No. 1 will be the first well in the Eagle Oil Pool Development Project, a horizontal drilling project targeting potential recoverable reserves of up to 24 million barrels of oil and 62 billion cubic feet of gas.

ARROW ENERGY (9 JULY 2001)

At 12:00 PM today, Darvall-1 was at 146 metres and drilling ahead to intersect the Iona and Argyle coal packages.
Flow tests over intervals in the Macallister coal package from 90 to 129 metres that had 5 metres of net coal were carried out on July 7 and July 8/2001. Gas flows at rates up to 8000 cfd with water flows ranging from 1494 to 3300 barrels per day were recorded during the flow tests. Arrow interprets that the high water saturation has suppressed the gas flows. Since post dewatering gas flows can be proportional to the water flows from the gas saturated coal seams, the high water flows indicate that, after dewatering, commercial gas flows from these seams should be anticipated.

Mosaic Oil has achieved early success in its drilling program which will involve drilling four exploration wells in the Surat Basin of Southern Queensland. The Spring Grove well was drilled to a total depth of 1977 metres and encountered a hydrocarbon column of 24 metres.

The well is presently being cased and suspended as a gas discovery, with electric logging also indicating light oil could be present in the lower section. The preliminary estimate of net pay is 9 metres.

The company will immediately focus on the second well included in its current drilling exploration program. This well is called Churchie 1 and is in the same area (Mosaic 49% and Operator).

TAP OIL (9 JULY 2001)

The Endeavor-1 exploration well spudded at 00.00 hours on Saturday, 7 July 2001.

The well is located in WA-278-P, approximately 400 kms West of Darwin in the Timor Sea at latitude 12deg 51' 18.01"S and longitude 126deg 22' 18.70"E.
As at 6.00 am today, the well has drilled ahead to 400 metres measured depth.

The well is expected to take 18 days to reach its projected total depth of 3,426 metres measured depth.

The Endeavour-1 well will be immediately followed by the Defiant-1 well. These two wells will complete a six well programme in Tap's Bonaparte acreage which have to date resulted in the discovery of 300 Pj of gas.

VICTORIA PETROLEUM (9 JULY 2001)

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is currently at a measured depth of 4,150 metres, and drilling ahead.

Directional drilling towards the primary objective and horizontal well section commenced at 3,980m, and the well is now being steered towards the horizontal. A horizontal well bore of up to 300 metres in length between 4257 - 4557 metres Measured Depth (MD) is programmed.
The well will be drilled to a measured depth of 4557 metres.

DEEPGREEN MINERALS CORPORATION (6 JULY 2001)

AGD Mining, operator of the Costerfield Exploration Joint Venture, has completed a further 4 diamond drill holes bringing to 6 the total number of holes. The drilling program is evaluating a high grade gold and antimony system at Costerfield, Victoria.

Costerfield is a 50/50 joint venture between AGD Mining Limited and Deepgreen Minerals Corporation Ltd.

The program's principal target has been East Reef, a high grade gold and antimony structure. Each of the six drill holes has so far intersected East Reef delineating for over 200 metres along strike.
Analysis of past records indicates that this reef also continues north for 200 metres until reaching the workings of the South Costerfield Mine. The reef is open to the south and at depth. The deepest intersection to date is some 90 vertical metres below surface.

The program has also discovered additional new reefs in what is now developing as a multi reef high-grade system.

Sufficient drilling at the Anjing Hitam deposit has now been completed to allow initiation of a preliminary feasibility study.

Holes SOP 49 & 52 have been completed, with SOP 54 in progress. SOP 49 intersected several base metal sulphide horizons, interbedded with shale at the expected depth and also intersected a deeper broad zone of multiple-banded, coarser grained, mineralisation. Individual high grade bands range up to 0.41m @ 24.5% Zn, 12.9% Pb & 80g/t Ag. Hole SOP 52, collared 150 metres east of hole 49 and 75 metres back of hole 17 intersected two mineralised horizons approximately, 200 metres down dip from the two zones intersected in hole 17 that assayed 6.04% Zn and 4.41% Pb over 9.0 metres in the upper horizon and 7.50% Zn and 0.50% Pb over 10 metres in the lower horizon. Assays for hole 52 are expected shortly.

Hole	Depth	Dip	Azimuth mag.	From (m)	To (m)	Width (m)	Zinc (%)	Lead (%)	Silver (g/t)	Description
Lae Jehe
SOP49	406.0	-70^o	210^o	81.17	83.84	2.67	3.7	1.5	2	Julu - Upper Section
				332.30	343.60	11.30	3.5	2.2	15	Julu - Lower Section
			incl.	340.00	342.84	2.84	8.3	4.9	31	Julu - Lower Section
				348.00	351.00	3.00	4.0	2.6	15	Julu - Lower Section
SOP52	541.1	-70^o	210^o	430.30	440.56	10.26	Not yet assayed			Julu - Lower Section
				448.60	450.55	1.95	Not yet assayed			Julu - Lower Section

The Bongkaras Zone located 2.2 kilometres northwest of the Anjing Hitam deposit was initially drill tested late in the year 2000 with holes 45 and 44 that intersected sedex zinc-lead mineralisation with previously reported intervals of 5.5 metres grading 14.6% Zn and 8.5% Pb and 8.1 metres assaying 6.0% Zn and 2.9% Pb, respectively. Drill holes 50 and 51 were collared on section 12,100 N and tested the mineralised zone approximately 150 metres down dip. Three mineralised zones were intersected in both holes with the deeper hole (51) having the thicker and higher grade sulphides. Deeper drilling is warranted.

Hole	Depth	Dip	Azimuth mag.	From (m)	To (m)	Width (m)	Zinc (%)	Lead (%)	Silver (g/t)	Description
Bongkaras Zone
SOP50	210.3	-60^o	250^o	131.15	133.00	1.85	3.7	1.9		Julu
SOP51	295.8	-80^o	250^o	84.00	89.00	5.00	2.2	1.2	2	Julu
				138.10	143.52	5.42	3.8	1.4	17	Julu
			incl.	139.52	143.52	4.00	4.8	1.8	21	Julu
				176.00	179.35	3.35	5.2	2.9	5	Julu

Drill holes 53 and 55 are being collared east of hole 45 to intersect the down-dip extension of the 5.5 metre mineralised intersection in hole 45 zone.

Drilling is continuing with two rigs. Results will be reported on a regular basis.

Highlights

Shallow drilling (average depth – 25 metres) at the Hawkwood Project has intercepted a zone of palladium (Pd), platinum (Pt), gold (Au) and copper mineralisation of variable width ranging from five to 15 metres.

Within the zone (which is defined by a > 0.1 g/t Pd + Pt cut-off) there are peak intervals of "ore grade" mineralisation with combined grades for palladium, platinum and gold of:

There is a relatively high palladium content of 40-60% as a proportion of these combined values. In addition, anomalous copper correlated strongly with the palladium-platinum values with the best intersection for copper being:

The drilling program was designed to test results from a recent trenching program and a test area of 100 metres by 80 metres was selected for that purpose. The mineralised zone was intersected through most of the test area.

The Company is currently reviewing all Project data and identifying appropriate geological models to assess the Project’s resource potential.

Heron Resources Limited ("Heron") wishes to advise that the current Goongarrie Nickel Project RC Drilling at the Pamela Jean Zone continues to return exceptional intercepts of supergene nickel- cobalt mineralisation. The peak 1m intercept, at 123-124m, has been 4.4% Ni and 1.4% Co.

The Pamela Jean mineralisation as drilled to date has a N-S strike length of 2,000m, consisting of metallurgically uniform Limonite Ore. Width of mineralisation at a 1% Ni cut-off is typically 240m.

Vertical RC drilling has defined a discrete zone of remarkably deep weathering. Drill holes have been completed to depths of up to 160m, and confirm complete alteration and weathering of the ultramafic host rock into limonitic clay to depths of up to 145m. This zone, termed the Pamela Jean Deeps, has now been defined over a strike length of 360m and remains open to the north and south.

RC drilling into the ultramafic bedrock underlying the Pamela Jean Limonite Ore has encountered a structurally complex zone of brecciation and shearing. Discrete zones of talc-carbonate and talc- chlorite schist separated by undeformed olivine adcumulate are present. Significant disseminated and stringer sulphide mineralisation (typically 5%) has been identified within the shear zones. Mineragraphic studies are current to determine the mineralogy and possible genesis of the sulphide mineralisation.

Oil Search reports that the Moran-6 well, an appraisal/development well in the Moran Central oil field, is preparing to run 13(3/8)" casing at 1,220 metres.

During the week, the well was sidetracked from 887 metres to the casing point. The forward programme is to run and cement casing prior to drilling ahead in 12(1/4)" hole.

The Parker Rig 140 has been mobilised and is currently being transported to the SE Gobe-2 well pad in preparation for the drilling of SE Gobe-1O. This is the first well of a 5-well programme incorporating activity at Gobe, plus exploration targets at Saunders and within PPL 219 and PPL 190.

A preliminary analysis of the mineralogy and grade of the existing Horseshoe South Manganese tailings indicate the tailings have a potential to be upgraded on site, possibly to approximately 80,000 tonnes of ore grade material. Metallurgical test work has shown that the +10mm size fraction from channel samples contains an average of between 35-40% Mn with below approximately 15% Fe.

Quarry face, rock chip sampling, visual estimates and surface inspection along strike indicate the potential for in situ ore of up to 1,000,000 tonnes. This figure has yet to be confirmed by drilling which is being planned.

ALCASTON MINING (4 JULY 2001)

Alcaston has completed an agreement to acquire a number of diamond exploration licences in Western Australia and the Northern Territory.

These most recent acquisitions build upon and complement the Company's existing portfolio of diamond exploration licences both in Sweden and Australia.

The Company has purchased 100% of the licences for a small cash consideration, the allotment of 900,000 fully paid ordinary shares in Alcaston Mining NL, which will be held in escrow for 12 months, and a 2% gross royalty based on production.

The two adjoining West Australian granted licences, known as Leopold Downs, are situated in the Kimberley Region and are located approximately 50 kilometres to the south-east of the Ellendale lamproite field.

AUSTRALIAN WORLDWIDE EXPLORATION (4 JULY 2001)

Australian Worldwide Exploration Limited ("AWE"), on behalf of its wholly-owned subsidiaries, advises the leveraged farmout of a 5% interest in Exploration Permit No WA-286-P ("WA-286-P") and a 10% interest in Exploration Permit No 368 ("EP 368") has been agreed with the Norwest Energy NL group ("Norwest").

Under the farmout, Norwest will contribute A$66,000 and fund an additional 8% of AWE's drilling costs of the Cliff Head 1 exploration well in WA-286-P to earn a 5% interest in the permit from AWE. Norwest will also fund 15% of AWE's drilling costs of the Arradale 1 exploration well in EP 368 to earn a 10% interest in the permit from AWE. The agreement is subject to the normal regulatory approvals.

CROESUS MINING (4 JULY 2001)

Fourth Quarter Activities Report -

GOLD PRODUCTION
Gold output more than doubled to 21,866 ounces for the quarter reflecting the successful commencement of milling operations at Davyhurst. Cash costs for the quarter were $341 per ounce. Gold production for the 2001 financial year was 51,151 ounces at a cash cost of $348 per ounce.

The Davyhurst operation made its maiden contribution of 15,163 ounces at a cash cost of $303 per ounce less than 12 months after the project was purchased. This is a very pleasing result as the reporting period included a four week ramp up phase.

DAVYHURST EXPLORATION
Croesus' aggressive exploration of the 600 sqkm Davyhurst tenements continued during the quarter with success achieved on several fronts.
Very encouraging primary drill results were reported from beneath the old Waihi pit and at the Salmon Gums prospect. Ongoing drilling is planned for all these prospects.

KANOWNA LIGHTS (4 JULY 2001)

Kanowna Lights Limited ("KLS") advises it is proceeding with mining of tantalite resources contained within the Arthur River Mining Lease M09/62 which is located approximately 100kms north of Gascoyne Junction in Western Australia.

The project will involve construction of a 100,000 tonnes per annum (tpa) conventional wet gravity plant, 10-man camp and associated infrastructure at a cost of approximately $250,000.

The project is budgeted to produce 25,000 pounds of contained Ta(2)O(5) per annum based on ore throughput of approximately 60,000 tpa and exploration bulk sampling of 40,000 tpa to maintain ore reserves ahead of production.

RED BACK MINING (4 JULY 2001)

Chirano Gold Project to proceed to bankable feasibility with $5 million Feasibility Finance Facility from Macquarie Bank
Red Back has put on hold further negotiations with Ashanti on the rationalization of the Chirano-Bibiani projects
Major exploration drilling program to commence third Quarter

Red Back has accepted a $5M Feasibility Finance Facility from Macquarie Bank Limited designed to assist with funding development of the Chirano Gold Project to a bankable feasibility study level including additional exploration drilling.

In consideration of Macquarie providing this facility, Red Back will issue Macquarie with options for the purchase of fully paid ordinary shares. Funds from Macquarie's exercise of the options will be applied against the outstanding facility drawdown.

XENOLITH GOLD (4 JULY 2001)

RE: BKP #3 WILDCAT WELL, KERN COUNTY, CALIFORNIA
A number of releases were made today, to the North American market, with respect to the above well in which Xenolith has an indirect interest via its investment in Kookaburra Resources Ltd and KOB Energy Inc. The following is one of such announcements;

"The BKP #3 exploratory test well, that was targeting a potential reservoir on the west slope outside the productive East Lost Hills structure, has been temporarily abandoned.

Extensive testing was carried out on several zones but no hydrocarbon shows were recovered. No recommendation however, is being made to plug the well until the extent of the field and the possible value of the well are better understood."

AUSTRALIAN WORLDWIDE EXPLORATION (3 JULY 2001)

Australian Worldwide Exploration Limited ("AWE") advises on behalf of its wholly-owned subsidiaries that it has entered into a Deed of Termination (the "Agreement") with Phoenix Energy Pty Limited ("Phoenix") regarding an alliance in the Perth Basin dating back to 1996. The alliance provided Phoenix with the ability to earn an interest in a number of Perth Basin exploration permits by funding AWE's expenditure obligations.

Under the Agreement, and as a result of Phoenix electing not to meet additional expenditure obligations under the alliance, Phoenix shall pay AWE a cash and share consideration of A$543,165 and re-assign certain Permit interests in the Perth Basin to AWE.

The re-assignment of Permit interests includes equity in three of the six permit areas currently held by AWE in the Perth Basin. Two wells are anticipated to be drilled in these permits before the end of the year (Beharra Springs South-1 in EP320 and Arradale-1 in EP368).

BLIGH OIL & MINERALS (3 JULY 2001)

NEW ZEALAND PEP38719, TARANAKI BASIN, BLIGH INTEREST: 5.00%
Bligh Oil & Minerals reports that the Kauri-1 is currently drilling ahead in 8(1/2)" hole at 3,877 metres, towards a Proposed target depth of 4,500 metres.

Civil engineering works for the Rimu production facilities have commenced and are proceeding on schedule. The initial stage of the production facilities are designed to handle 3,500 bopd and 7mmcf/d of gas, and are planned to be operational during the fourth quarter, 2001.

Extended production testing of the Rimu A and B pad wells commenced in April, and is ongoing. The Rimu A1 and B1 wells are currently being tested, with a combined daily production rate in the order of 1,200 barrels of oil.

GREENSTONE RESOURCES (3 JULY 2001)

The Company is pleased to announce that it has identified a major new basin and range environment prospective for Carlin style precious metal and other deposits and has subsequently acquired exploration and purchase rights over 1321 sqkm of Exploration Licences covering the Roger River Project in North West Tasmania.
The tenements cover essentially un-metamorphosed Proterozoic carbonate dominated sedimentary sequences with minor volcanics. The sequence is truncated by the deep crustal north-east trending Roger
River Fault which extends for approximately 50 kilometres.

There are two main targets on which the Company will be initially focussing.

MATRIX METALS (3 JULY 2001)

The initial program of drilling at the Mt Watson Prospect which was completed in late June 2001, has been highly successful with an inferred resource of 837,000 tonnes of oxide copper mineralisation estimated, grading an average 13% Cu at 0.5% cut-off. The northwest trending mineralisation comprises an eastern and western zone and extends continuously within the strike length of the zones for 425m and 200m respectively. The eastern zone remains open to the east, west and at depth, with the western zone remaining open at depth.
This initial drilling program was limited to a depth of 25.5 m with some drill holes being mineralised over their entire length and some finishing in ore grade mineralisation.

The Mt Watson deposit, which will become a satellite open pit to the Company's Mt Cuthbert operation, is a greenfields exploration project with no mining or oxide zone exploration previously recorded. The fact that the first drilling program has resulted in the estimation of an inferred resource is highly significant in terms of the potential ultimate size and tonnage of the deposit.

The Directors of Mosaic Oil NL request a trading halt according to Listing Rule 17.1 with immediate effect:-

We request suspension because of the time necessary to assess information that is coming from the Spring Grove No 2 well being drilled in Queensland where hydrocarbon shows are occurring and are being interpreted.
We expect the trading halt to last up to tomorrow afternoon (4th July)
As soon as we have enough information we will release that information and request the trading halt ceases
Directors are not aware of any reason why the trading halt should not be granted.
Mosaic holds a 77.5% working interest in the Spring Grove well and the other interests are private parties not associated with Mosaic Oil or its Directors.

TAP OIL (3 JULY 2001)

In accordance with Listing Rule 3.1, Tap Oil Limited advises that its wholly owned subsidiary Tap West Pty Ltd ("Tap") has, along with Agip Australia Limited, elected to pre-empt an offer to purchase Pan Canadian Petroleum Limited's 40% interest in the WA-234-P permit containing the Woollybutt Oil Field.

Pursuant to this pre-emption election, Tap will acquire an additional 5% interest in the permit (taking it to a 15% interest), with Agip Australia Limited acquiring an additional 35% (taking it to a 65% interest).

Tap considers that the Woollybutt Oil Field has considerable potential particularly with the Joint Venture now well advanced with development planning. Specifically, the draft development concept has recently been discussed with regulatory authorities detailing the proposed development of the Woollybutt Oil Field using an FPSO (Floating Production and Storage Offtake) system with first oil targeted for early 2003.

The purchase price for the additional 5% equity is at this stage confidential and will be funded from Tap's existing cash reserves.

Woodside Petroleum Ltd advises that it has agreed with Hardman Resources NL to take a placement of 33 million ordinary shares in Hardman, being approximately 11% of Hardman's currently issued ordinary shares at a placement price of A$1.10 a share.

The agreement includes an undertaking by Hardman to use placement funds substantially to finance its continuing commitments to its Mauritanian joint venture with Woodside.

The placement will enhance alignment between Woodside, as operator of the Mauritanian joint venture, and Hardman, as the two companies continue to explore the full potential of the Mauritania acreage.

Significant results have been received from drilling on the Crown structure at Cracow.

Drilling has intersected high-grade gold mineralisation 70 metres above CBK027 on section 5600mN, and 100 metres south of CBK031 above the 1950mRL. The Crown structure remains open along strike and at depth.

Significant intersections returned since the last report are:

			Grid North
CBK044	15.8 metres @ 14 gAu/t	[375.2 - 391 metres downhole]	5600
	including 3.45 metres @ 49gAu/t

CBK045	6.2 metres @ 9.1 gAu/t	[452 - 458.2 metres downhole]	5760
	including 1.0 metres @ 21gAu/t
	1.4 metres @ 4.6 gAu/t	[464.2 - 465.6 metres downhole]

SELWYN MINES (2 JULY 2001)

Selwyn Mines Limited (ASX:SLN) has developed a preferred development option for its operations in NW Queensland to that announced in its scoping study. This expansion option will see plant throughput increase from 700,000 tonnes per annum ("tpa") to 1.7 million tpa with ore initially coming from the Mt Elliott and 276 mines. Total capital requirements over the next two years is expected to be approximately $13 million. This differs significantly from the scoping study results that estimated capital costs of $42 million to achieve a 2 million tpa treatment rate.

WOODSIDE PETROLEUM (2 JULY 2001)

Woodside Petroleum Ltd, Operator of the Mauritania, Area B Joint Venture, reports that the Courbine-1A ST1 well was at a depth of 3195 metres in a 17(1/2) inch hole. Wireline logs have been run and formation pressures and fluid samples have been recovered. Logs indicate that a gross 9 metre gas column was penetrated. A gas water contact was intersected at the base of the gas column. The forward programme is to run 13(3/8) inch casing and then drilling will continue to the programmed total depth of 4000 metres.

Disclaimer:
The information contained in these pages serves as a guide only. Digital Reflections shall not be liable for any accidents, injury, irregularity, loss or damage caused by or arising as a result of information contained within this World Wide Web site.

Berwyndale #1	Desorbtion of coal cores commenced.
Lawton # 2	Desorbtion of coal cores continued.
Pinelands #2	Desorbtion of coal cores commenced.
Bellevue #1	Desorbtion of coal cores commenced.
MuNulty #1	Coring operations finished. Well logged and completed and desorbtion of coal cores commenced.
Broadwater #1	Coring operations finished. Well logged and completed and desorbtion of coal cores commenced.
Lawton #1	Dewatering operations continued.
Avon Downs #1	Dewatering operations continued.
Berwyndale #1	Dewatering operations continued.

Exploration News

Proposed New Floats/ Share Issues

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MOUNT BURGESS MINING (19 JULY 2001)

ARROW ENERGY (18 JULY 2001)

BARRA RESOURCES (18 JULY 2001)

EXCO RESOURCES (18 JULY 2001)

HARDMAN RESOURCES (18 JULY 2001)

IVANHOE MINES (18 JULY 2001)

NOVUS PETROLEUM (18 JULY 2001)

SUMMIT RESOURCES (18 JULY 2001)

TUART RESOURCES (18 JULY 2001)

VICTORIA PETROLEUM (18 JULY 2001)

ARROW ENERGY (17 JULY 2001)

AUSTRALIAN WORLDWIDE EXPLORATION (17 JULY 2001)

BLIGH OIL & MINERALS (17 JULY 2001)

CENTAMIN EGYPT (17 JULY 2001)

FIRST AUSTRALIAN RESOURCES (17 JULY 2001)

GREENSTONE RESOURCES (17 JULY 2001)

MATRIX OIL (17 JULY 2001)

RIMFIRE PACIFIC MINING (17 JULY 2001)

TAP OIL (17 JULY 2001)

VICTORIA PETROLEUM (17 JULY 2001)

WOODSIDE PETROLEUM (17 JULY 2001)

LAKES OIL (16 JULY 2001)

CUE ENERGY RESOURCES (16 JULY 2001)

HARDMAN RESOURCES (16 JULY 2001)

UNION CAPITAL (16 JULY 2001)

VICTORIA PETROLEUM (16 JULY 2001)

WOODSIDE PETROLEUM (16 JULY 2001)

ARROW ENERGY (13 JULY 2001)

HARDMAN RESOURCES (13 JULY 2001)

ORIGIN ENERGY (13 JULY 2001)

ORIGIN ENERGY RESOURCES (13 JULY 2001)

SUB-SAHARA RESOURCES (13 JULY 2001)

VICTORIA PETROLEUM (13 JULY 2001)

QUEENSLAND GAS COMPANY (12 JULY 2001)

SEDIMENTARY HOLDINGS (12 JULY 2001)

CUE ENERGY RESOURCES (12 JULY 2001)

HARDMAN RESOURCES (12 JULY 2001)

KAGARA ZINC (12 JULY 2001)

MOSAIC OIL (12 JULY 2001)

OIL COMPANY OF AUSTRALIA (12 JULY 2001)

OIL SEARCH (12 JULY 2001)

PLATSEARCH (12 JULY 2001)

VICTORIA PETROLEUM (12 JULY 2001)

GOLDEN CROSS RESOURCES (11 JULY 2001)

ANVIL MINING (11 JULY 2001)

BENDIGO MINING (11 JULY 2001)

CITYVIEW CORPORATION (11 JULY 2001)

EQUINOX RESOURCES (11 JULY 2001)

GOLDEN STATE RESOURCES (11 JULY 2001)

HARDMAN RESOURCES (11 JULY 2001)

PLATSEARCH (11 JULY 2001)

VICTORIA PETROLEUM (11 JULY 2001)

BLIGH OIL & MINERALS (11 JULY 2001)

FIRST AUSTRALIAN RESOURCES (11 JULY 2001)

TAWANA RESOURCES (11 JULY 2001)

TITAN RESOURCES (11 JULY 2001)

UNION CAPITAL (11 JULY 2001)

VICTORIA PETROLEUM (11 JULY 2001)

WOODSIDE PETROLEUM (11 JULY 2001)

LAKES OIL (9 JULY 2001)

NAVIGATOR RESOURCES (9 JULY 2001)

ARROW ENERGY (9 JULY 2001)

AUSTRALIAN WORLDWIDE EXPLORATION (9 JULY 2001)

CUE ENERGY RESOURCES (9 JULY 2001)

HARDMAN RESOURCES (9 JULY 2001)

MOSAIC OIL (9 JULY 2001)

TAP OIL (9 JULY 2001)

VICTORIA PETROLEUM (9 JULY 2001)

NAVIGATOR RESOURCES (9 JULY 2001)

AUSTRALIAN WORLDWIDE EXPLORATION (6 JULY 2001)

CENTRAL NORSEMAN GOLD CORPORATION (6 JULY 2001)

DEEPGREEN MINERALS CORPORATION (6 JULY 2001)

VICTORIA PETROLEUM (6 JULY 2001)

HERALD RESOURCES (5 JULY 2001)

PAN AUSTRALIAN RESOURCES (5 JULY 2001)

ARROW ENERGY (5 JULY 2001)

BHP BILLITON (5 JULY 2001)

Proposed New Floats/
Share Issues