HERALD RESOURCES (31 MAY 2001)

DAIRI ZINC/LEAD PROJECT	Project Interests:
METALLURGICAL TESTWORK	IAX 80% PT Aneka Tambang 20%

Herald's 71% owned subsidiary, International Annax Ventures Inc. (IAX) reports as follows:

The Company is pleased to announce that encouraging metallurgical test results have been obtained from samples of mineralization taken from the Anjing Hitam sedex massive sulphide deposit. Initial results indicate a zinc recovery of 87% reporting to a 58.5% zinc concentrate and lead recovery of 74% reporting to a 54.5% concentrate, using a primary grind of 80% passing 35 microns. It is believed that further testing will improve on these figures, particularly with regard to lead.

Recognizing similarity in proportions of main sulphides to Western Metals Ltd’s Hellyer zinc mine in Tasmania, the company commissioned Western Metals to carry out flotation test work on quarter core samples from hole SOP30D. This core is regarded as being typical of the expected run-of-mine product, although a little higher in grade than the overall resource. The results were also compared with Hellyer ore, and indicate Anjing Hitam zinc and lead sulphides as having superior characteristics in several key components.

LAKES OIL (31 MAY 2001)

Lakes Oil N.L. has been advised by Origin Energy Resources Limited, as Operator for the PEL 72 Joint Venture, that as at 10.30 am this morning the McNamara Park-1 well was at a depth of 1682 metres and running Drill Stem Test No. 1 over the interval 1666 – 1682 metres within the Flaxman Formation, which is a secondary target in the well. The test recovered approximately 1600 meters of water. The well will now drill ahead to its primary target, sands of the Waarre Formation, which should be intersected at approximately 1936 metres sometime tomorrow.

ALLSTATE EXPLORATIONS (31 MAY 2001)

Allstate Explorations announced the resignation of their managing director, Mr Patrick Scott, from 15 June 2001. Mr Scott has been the managing director of Allstate since 1999.

ANACONDA NICKEL (31 MAY 2001)

The securities of Anaconda Nickel Limited (the "Company") will be suspended from quotation immediately pending the release of the results of the Company's Extraordinary General Meeting being held today.

BLACK RANGE MINERALS (31 MAY 2001)

Black Range Minerals (BLR) was today granted development consent for the Syerston nickel/cobalt/platinum project by the State Government of New South Wales, as announced by the Premier, Bobb Carr, in Parliament.

This consent is an essential component in joint venture and partnering negotiations presently underway for Syerston. It is also mandatory for meaningful discussions with major banks regarding debt financing arrangements and leverage leasing.

Syerston is a fully appraised development project located near Parkes, some 400km northwest of Sydney. It is a limonitic nickel laterite with design production levels of nickel and cobalt of 20,000 tonnes and 5,000 tonnes respectively. The Government's Development Consent is initially for 21 years and total project life is more than 36 years. With robust project economics, Syerston is a prime development project.

CUE ENERGY RESOURCES (31 MAY 2001)

Santos (Sampang) Pty Ltd, the Operator for the Sampang PSC offshore East Java, has advised that hydrocarbons are indicated on logs run in the Oyong-1 well. The well is currently at 1068 metres.

Santos has stated that "logging has indicated a 110 metres gross column of gas with a possible 22 metres gross column of oil in the Early Pliocene Mundu limestone formation at a depth of 813 metres."

Wire line pressure measurements have been obtained and a wire line sample obtained at 928.2 metres recovered a total of 10.5 litres of 41deg a API oil and 61 cubic feet of gas.

The pressure information indicates a single gas column in good quality rock underlain by an oil leg of at least 8 metres.

The forward plan is to set 9(5/8)" casing and drill ahead to evaluate the other objectives of the well.

GOLD MINES OF SARDINIA (31 MAY 2001)

Gold Mines of Sardinia is advancing plans for a strategic drilling campaign over the company's new gold field discovery at Monte Ollasteddu in eastern Sardinia. A Research Permit application has been lodged with the Sardinian Government to enable reserve circulation (RC) and diamond drilling to fully evaluate the prospect.
Company geologists continue to report high gold values from a wide-ranging channel sampling program.

GOLD AND RESOURCE DEVELOPMENTS (31 MAY 2001)

Gold and Resource Developments NL wishes to advise that subsequent to receiving approval at its AGM yesterday, 30 May 2001, the Company has changed its name to GRD NL.

OIL COMPANY OF AUSTRALIA (31 MAY 2001)

Woleebee East No 01 (previously Woleebee No 01) a coal seam methane exploration core hole, is situated approximately 100 metres west of Roma 04, latitude 26 deg, 15 min, 01.78 sec, south, longitude 149 deg, 50 min, 15.09 sec, east. The well was spudded at 08:00 hours on May 10, 2001. 168mm surface casing was set at 97.0 metres RT. The well reached a total depth of 617 metres RT, at 06:30 hours, on May 19, 2001. At 06:00 hours today the rig was preparing to plug and abandon the well. Progress for the week was 0 metres.

A Drill Stem Test was performed over the interval, 580 to 587 metres RT, with no recovery of formation fluids.

The primary targets of the well are the upper Juandah Coal Measures.
Proposed total cored depth of the well is 330 metres RT.

PALADIN RESOURCES (31 MAY 2001)

Prospectus for a Placement of up to 50,000,000 Shares & 50,000,000 Options at an Issue Price of 3.25 cents per Share to raise up to $1,625,000

PRESTON RESOURCES (31 MAY 2001)

Bulong Operations

The planned maintenance shut down scheduled for March was extended due to unforeseen maintenance requirements. Production was resumed with the first commercial harvest on the 10th April. Performance of the plant for the rest of the month was close to design.

Nickel production was 557 tonnes and cobalt production 37 tonnes. Operating costs, before cobalt credits were approximately USD2.85 per pound.

A total of 44,427 tonnes of leach feed was processed at an average rate of 69.6 dry tonnes per hour.

RIO TINTO (31 MAY 2001)

Rio Tinto and its joint venture partners have approved the development of the A$425 million Hail Creek Coal Project, in central Queensland near Mackay. The Hail Creek Coal Project is based on one of the largest coking coal deposits in the world, with total resources estimated at 1.2 billion tonnes. The project is located 85 kilometres west of Mackay.

Chief Executive Rio Tinto Energy group, Mr Greg Boyce, said conditions in the international coal market were right for the development of Hail Creek.

"Mine closures in Canada and an energy shortage in the US have provided a natural opening for a new mine like Hail Creek," Mr Boyce said.

SUN RESOURCES (31 MAY 2001)

Sun Resources NL ("Sun") wishes to update shareholders on development operations on the Eagle Oil/Gas Development, San Joaquin Basin, California, USA.

The well at 1600 hours WST (California) USA was at 3,826 metres and is currently directionally drilling ahead in a 5 7/8" hole to a measured depth of 4,557 metres where a horizontal well bore of up to 300 metres length is programmed in the reservoir target.

VICTORIA PETROLEUM (31 MAY 2001)

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is drilling ahead at a depth of 3,826 metres.

The well will be drilled to a measured depth of 4557 metres. A horizontal well bore of up to 300 metres in length between 4252 - 4557 metres is programmed.

ALKANE EXPLORATION (31 MAY 2001)

In satisfaction of the option granted in accordance with the Memorandum of Understanding between the Company (Alkane), Australian Zirconia Ltd (AZL) (100% owned by Alkane), Kawatetsu Mining Co Ltd (KMC) and Itochu Corporation (IC) collectively known as KMI, Alkane has issued for cash 1 million ordinary fully paid shares to KMI at an issue price of A$1 each.

ANACONDA NICKEL (31 MAY 2001)

Anaconda Nickel Limited has advanced negotiations and discussions regarding a A$140 million structured finance facility and an equity injection of A$110 million.
These discussions with various parties have included General Electric Capital and Warburg Pincus LLC.
A third offer for equity has also been received.

ARC ENERGY (31 MAY 2001)

ARC Energy advised that it has delayed accepting Century Rig 24 and spudding the Yardarino 5 well due to mechanical problems with the rig which are currently being resolved.
Century Drilling expect to complete repairs to the rig by Friday, 1 June 2001, and if ARC agrees the rig is operational at that time, the well will then be spudded.

BLIGH OIL & MINERALS (31 MAY 2001)

Drilling Activity & Project Status Report

NEW ZEALAND - PEP38719, TARANAKI BASIN, BLIGH INTEREST: 5.00%
The Kauri-1 exploration well is currently drilling ahead in 12(1/4)" hole, at a depth of 2226 metres.

Kauri-1 is being drilled to a total depth of 4500 metres to evaluate the Tariki sandstone, Rimu limestone and Cretaceous sandstone reservoirs within upper and lower thrust blocks in the large Kauri structure. The well is expected to take a further 20-25 days to reach total depth.

The Operator has indicated that the testing of the Rimu B-1, B-2, A-2 and A-3 wells is nearing completion, and a comprehensive release will be forthcoming within the next week, once interpretation of the data has been completed.

Location clearing has commenced, in advance of construction of the Rimu production station. The facilities are being designed for an initial throughput of 3500 barrels of oil per day and 10 million cubic feet of gas per day, with easy modular upgrade to a capacity of 7500 barrels of oil per day and 20 million cubic feet of gas per day.
As previously announced, a gas contract has been agreed, under which the first 10 million cubic feet per day is already committed.

NEW ZEALAND - PML 38141, TARANAKI BASIN. BLIGH INTEREST: 1.62%
The Te-Popo-1 well is currently drilling ahead in 8(1/2)" hole at a depth of 2613 metres. The well is being drilled to evaluate the north-eastern extent of the Tikorangi reservoir in the Waihapa-Ngaere field, in which Bligh holds a 1.62% interest through its 50% owned subsidiary, Bligh Oil & Minerals (NZ) Ltd.

UNITED STATES- BAYOU CHOCTAW PROJECT, LOUISIANA, VICTORY FINANCIAL LEASE. BLIGH INTEREST: 22.50%
The Icon Victory Financial No 1A well has been plugged back to a depth immediately below surface casing at 2500 feet, and is being sidetracked from this point towards a revised target total depth of 8800 feet. The well is currently at 3700 feet and is drilling ahead.
The forward plan calls for 7(5/8)" casing to be set at a depth of approximately 7200 feet, immediately above the fault zone which caused the technical difficulties in the first wellbore. The well will then be drilled to a depth of 8800 feet, to penetrate the majority of the known field pay zones in the Marg Idi, Marg Howeii, Cib Hazz, and Marg Tex formations, at which point the well will be logged, and 5(1/2)" production casing will be run. A decision on slim-hole deepening will be made at that point, dependent upon the condition of the wellbore, the quality of the pays behind pipe, and the cumulative cost of the well at that time. If the decision is made not to deepen, the rig will be released, and the well completed in the pays behind pipe.

BURDEKIN PACIFIC (31 MAY 2001)

Settlement has been reached on all litigation brought by Range Resources Limited ("Range") against wholly owned subsidiaries Pacific Islands Gold NL ("PIG"), Nationwide Pacific NL ("Nationwide"), Mt Kasi Limited ("Mt Kasi"), one current and one former director of PIG.

Under the settlement terms reached with Range:

1. no immediate cash payment is to be made to Range;
2. Burdekin Pacific will receive 25% of participation rights held by Range in the Mt Kasi Limited creditor's Scheme of Compromise from future gold production at Mt Kasi, up to a maximum of $306,000;
3. neither PIG, Nationwide nor Mt Kasi have any further obligation to provide Range with any security over the Mt Kasi mining tenements in Fiji, and
4. all parties to bear their own costs in relation to the litigation.

PIG will reserve its rights to recover legal costs in defending the actions against directors from insurer HIH Casualty & General Insurance Limited (provisional liquidator appointed), however, all legal costs incurred to date have been expensed.

A result of the settlement is that approximately $1.2 million in current liabilities will be removed from the company's consolidated balance sheet at 30 June 2001. Given that the $306,000 receivable pursuant to the Mt Kasi Scheme is contingent in nature, it will not be brought to account as an asset in the consolidated entity's accounts at 30 June 2001.

CARNARVON PETROLEUM (31 MAY 2001)

Further to our announcement on 24 May 2001 regarding the imminent spudding of a new well on the SW1A Concession in Central Thailand, Carnarvon Petroleum NL announced that the well, WB-N2, has now reached a total depth of 548 meters.

Preparations are underway to run intermediate casing. The objective horizons are targeted from 600 meters onwards and WB-N2 has a prognosed total depth of 1,015 meters.

The SW1A Concession Joint Venture participants are Carnarvon Petroleum NL 40% and Pacific Tiger Energy Inc (60%).

CLUFF RESOURCES (31 MAY 2001)

Section B of Trench 6, located in the upper river flats of Backwater Creek has been completed, yielding 780 carats of rough ruby and 1228 carats of corundum and sapphire at a grade of 7.2 carats per tonne of ruby and 11.4 carats per tonne of corundum and sapphire. The largest rubies sampled weighed 3.4 and 3.2 carats, and a 5.2 carat corundum (non gem ruby) was also recovered. All tracers were recovered. 108 tonnes of gravels were treated. Backwater Creek is a tributary of the Gummi River, and this trenching is about two kilometres upstream from the previously demonstrated inferred resource of ruby.

CUE ENERGY RESOURCES (31 MAY 2001)

The securities of Cue Energy Resources Limited will be placed in pre- open pending the release of an announcement by the Company.

FIRST AUSTRALIAN RESOURCES (31 MAY 2001)

NEW BARN PROSPECT, CASS COUNTY, TEXAS NEIL HEIRS #1 WELL
Gas shows have been reported in mud logs while drilling the Neil Heirs #1 well. The first drilling break between 7,732 and 7,742 feet was associated with an increase in background gas from 8 units to 48 units and gold fluorescence in cuttings. A second drilling break was reported between 7,800 and 7,805 feet with background gas increasing to 66 units. A third drilling break was recorded between 7,891 and 7,902 feet with background gas to 56 units. These shows will be evaluated by logs once the well has reached total depth (10,950 feet).

The well is presently drilling ahead at 8,054 feet using Grey Wolf Rig #710. The New Barn prospect is located in Cass County, Texas, approximately 16 miles northwest of the town of Jefferson. The Prospect is located on the north flank of the Lassater Field.

GALLERY GOLD (31 MAY 2001)

In addition to the high level of activity planned on its gold exploration program, the Company is preparing to drill the promising Tekwane nickel prospect about 9 kilometres north-east of the Mupane gold prospect.

To enable the planned work program to proceed, the Company needs to raise an additional $5 million of working capital as soon as possible. I am pleased to report that $2 million of this money will come from investors in Botswana, following the dual listing of the Company's shares on the Botswana Stock Exchange next month. The remainder of the funds will come from the Company's major shareholders, Lion Selection Group Limited ($1.25M) and African Lion Limited ($1.5M), and a small group of Australian investors ($0.25M).
Further details of the proposed placement, which is to be at 16 cents per share, are outlined in the Notice of Meeting.

GOLD AND RESOURCE DEVELOPMENTS (31 MAY 2001)

Gold and Resource Developments NL wishes to advise that subsequent to receiving approval at its AGM yesterday, 30 May 2001, the Company has changed its name to GRD NL.

GOLDEN STATE RESOURCES (31 MAY 2001)

The Company announces that it has allotted and issued a further 13,155,148 shares and 13,155,148 options resulting from acceptance of applications for shortfall in respect of it's pro-rata issue (prospectus dated 9 March 2001).
The total number of shares and options which have now been allotted and issued as a result of the prospectus dated 9 March 2001 is 29,781,207 shares and 29,781,207 options resulting in the raising of $1,935,778 share capital before costs of the issue.

GUNSON RESOURCES (31 MAY 2001)

Diamond drill hole MGD 27, designed to test the possibility of a near vertical copper ore zone close to the northern end of the 10 kilometre long Elaine Zone geophysical anomaly was completed on 22nd May. This hole is the first one sole funded by Billiton Exploration Australia Pty Ltd as part of the Mt Gunson Joint Venture initiated on 9th April 2001.

The hole was collared on the same section as previous drilling late last year and earlier this year, and the results are consistent with earlier indications that the geophysical anomaly is caused by iron oxide associated copper-gold mineralisation.

The best copper mineralisation in the hole is wider and better grade than in previous drilling and appears to lie "up dip" to the east of that encountered near the base of the previous wedge hole, MGD 26-W1. Assay results and other details of MGD 27 are listed in Appendix 1. The best intersection is a 15 metre interval between 865-880 metres which averaged 0.3% copper, including 2 metres at 0.7% copper between 878-880 metres. This mineralisation is associated with strong chlorite alteration with accessory magnetite and fluorite, overprinting earlier red rock alteration.

HARDMAN RESOURCES (31 MAY 2001)

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

PROSPECT DESCRIPTION:
The Courbine-1 well will target the Courbine prospect (formerly referred to as Lead 8). The proposed Total Depth is 4,000 metres.

PROGRESS AND CURRENT OPERATION: (14:00 hours WST 30 May 2001)
The Courbine-1 well spudded on 29 May 2001. Drilled 36" hole to 1,330 metres depth.

FORWARD PROGRAMME:
Cement 30" conductor and drill 26" hole.

Projected drilling time for the Courbine-1 well (P50, most likely case) is 62 days. The well is located approximately 95 kilometres from the coastline in Joint Venture Area B.

HILLGROVE GOLD (31 MAY 2001)

QUARTERLY REPORT FOR THE PERIOD ENDED 30 APRIL 2001

HIGHLIGHTS
Mine output continued to increase during the quarter as the Company moves towards its planned capacity goals. The pressure oxidation plant has entered its second year of operation and continues to operate according to design parameters.

Foundations are being prepared for the installation of a 1,000 kW ballmill which is being located adjacent to the existing concentrator building. This mill, when fully installed, will allow an increase in plant throughput from 15 to 32 tonnes per hour.

Mine development activity has also continued to increase, with 412 metres of horizontal development achieved following the completion of the Metz decline to 9 level during the previous quarter.

A number of milestones have been achieved in the development of the Antimony Trioxide project, including the signing of the EPCM agreement with Ausenco Limited for the construction of the plant. Preliminary site works have been prepared south of the existing pressure oxidation site.

A Heads of Agreement has been signed with an Australian chemical trading company for rights to distribute half of the planned antimony trioxide production and a distribution agreement for the balance of production is expected to be completed in the forthcoming quarter with a major Japanese trading corporation.

HOMESTAKE MINING / RIO TINTO (31 MAY 2001)

Rio Tinto has sold its 100% interest in the Cowal Gold Project, located in central New South Wales, to Homestake Mining Company, subject to the parties receiving certain government approvals. The value of the sale represents less than one per cent of the net assets of Rio Tinto.

According to the feasibility study, the Cowal project hosts a recoverable reserve of 73.0 million tons (66.4 million tonnes) of ore grading 0.035 ounces of gold per ton (1.18 grams per tonne) or approximately 2.5 million ounces of gold. This reserve is contained within mineralized material totaling 100 million tons (90.3 million tonnes) grading 0.044 ounces per ton (1.5 grams per tonne). Many of the holes defining the resource bottomed in economic grade mineralization indicating considerable potential to enhance the original North model. Homestake expects to complete re-examination of parameters of this project as quickly as possible. The Cowal Project is located within the acquired land package covering approximately 153,000 acres (620 square kilometers) of highly prospective Lachlan Fold Belt volcanics, which are also host to the large Cadia/Ridgeway copper/gold mines and numerous smaller gold mines in central New South Wales.

ILUKA RESOURCES (31 MAY 2001)

Iluka Resources has decided to proceed with a major expansion of its Old Hickory titanium minerals operations in Virginia, USA. The project will be the first phase of Iluka's investment in the creation of a world-scale titanium minerals business in the USA

Work will commence immediately on a construction project valued at US$23 million to increase the combined output of ilmenite and zircon by 50%. When the project is commissioned in the third quarter of 2002 it will have an average annual output of 225,000 tonnes of ilmenite and 50,000 tonnes of zircon.

The scope of the project requires a second mining pit to be developed at Old Hickory, with an associated mining unit and mobile gravity concentration plant. The minerals separation plant will be upgraded to remove bottlenecks and increase production capacity.

The project will be funded from cash flow and may utilise the Company's existing debt facilities.

Iluka is mindful that the current global economic climate is difficult.

However, the Company is confident that the medium to longer term outlook for the titanium dioxide pigments industry (the major outlet for the company's TiO2 minerals) remains positive.

Old Hickory zircon, which is highly regarded for ceramics and zirconium applications, is expected to remain in strong demand.

This investment decision is part of Iluka's growth plans, involving new production in Western Australia, the Murray Basin, USA and other potential areas of operation.

IVANHOE MINES (31 MAY 2001)

Ivanhoe will resume limited operations at the Bakyrchik Gold Mine in Kazakhstan this summer.
Production is expected to begin at a rate of 20,000 ounces a year, with the potential to expand to between 40,000 and 50,000 ounces of gold a year. Gold recovery operations will use the existing facilities and a carbon-in-leach (CIL) plant, part of the mine complex that has been maintained on a production-ready basis since 1998.

MAIDEN GOLD (31 MAY 2001)

The Company has today received confirmation of the change in the Company's name to Sub-Sahara Resources NL.
We are advised the new trading nominals of the Company will be SBS for shares and SBSO for options.
The change of name on the exchange will become effective on Wednesday 6 June 2001.

MICHELAGO (31 MAY 2001)

Michelago is pleased to announce the appointment of Mr Brett Thomas, (BCEng(Dist), IEAust, EIA), to the senior management team.

Mr Thomas has extensive experience in the renewable energy, greenhouse and environmental sectors. He has advised listed mining and industrial companies, public utilities and international power utilities on opportunities in the Australian renewable energy sector.

Until recently, Mr Thomas was employed by leading energy consultancy firm Energetics. He is also on advisory panels for the Westpac Australian Eco Share Fund and for the Victorian State Government Strategic Audit of Environmental Management and Renewable Energy Industries.

Michelago's increase in mineral exploration and joint venture activities, underpinned by renewed market interest in the resource and mining sector, will be augmented by focussed assessment of new investment opportunities in the renewable energy sector. Mr Thomas's extensive project management and assessment skills in the renewable energy sector will be essential to this process.

NAMAKWA DIAMOND COMPANY (31 MAY 2001)

Namakwa has reaffirmed its focus on rapidly advancing its flagship Namakwa Diamond Project to production after announcing that the hostile scrip takeover from Majestic Resources NL ("Majestic") closed yesterday (28 May 2001) without Majestic having disclosed the receipt of any acceptances.

As a result, the minimum acceptance condition of Majestic's offer was not fulfilled and the offer has now lapsed.

Majestic currently holds a 17.7% interest in Namakwa, which will, all other things being equal, reduce to 16.0% if and upon Kimberley converting its convertible notes and further to 11.9% if all outstanding options are exercised.

NOVUS PETROLEUM (31 MAY 2001)

National Australia Bank Limited Group ceased to be a substantial shareholder in Novus Petroleum Limited on 25/05/2001.

ORIGIN ENERGY (31 MAY 2001)

Origin Energy Resources Limited, as Operator for VIC/P43, provides the following report for the drilling of the exploration well Geographe 1 in the offshore Otway Basin.

Geographe 1 was spudded at 02:45 EST on 30 May 2001.

Geographe 1 is being drilled by the Ocean Bounty semi submersible drilling rig and is planned to be drilled to a depth of at least 2120mRT.

OROGEN MINERALS (31 MAY 2001)

The PNG Gas Project notes today's announcement by QNI and contrasts it with the Queensland government's initiative for a competitive tender process to supply the proposed Townsville power station.

The approach to be undertaken for the power station contract will enable all potential suppliers to demonstrate the competitiveness of their price and product.

"The PNG Gas Project believes that we can provide a highly competitive product and we will be actively competing for the contract to supply gas to the Townsville power station" said PNG Gas Project Secretariat Coordinator, Doug Schwebel.

"There is no doubt that the PNG Gas Project represents the superior option to provide competitively priced gas and the best overall outcome for all of Queensland".

The PNG Gas Project is an integrated gas supply and transportation solution.

The PNG Gas Project will continue to negotiate with all potential customers and intends to be a very active participant in providing options for an energy solution in Townsville and the rest of the State.

PALADIN RESOURCES (31 MAY 2001)

Paladin is to proceed with a placement to raise up to $1,625,000 with the funds being utilised to support its corporate strategy as announced to ASX 18 May 2001.

PASMINCO (31 MAY 2001)

UBS Nominees Pty Ltd decreased its relevant interest in Pasminco Limited on 28/05/2001, from 85,963,919 ordinary shares (7.644%) to 72,559,125 ordinary shares (6.452%).

PLACER DOME (31 MAY 2001)

Placer Dome Inc reported strong financial results for the three-month period ended March 31, 2001. Mine operating earnings totalled $93 million during the first quarter, compared to $133 million in 2000. Cash flow from operations amounted to $121 million, or $0.37 per share, up from $112 million, or $0.34 per share in the same period last year. Net earnings totalled $16 million, or $0.05 per share, compared to $29 million or $0.09 per share in the corresponding period of 2000.

PERILYA (31 MAY 2001)

We are pleased to provide a progress report on the activities of Strike Oil NL (Strike), the unlisted oil and gas exploration company in which Perilya Limited (Perilya) holds a 23.4% interest.

Strike's interests lie in oil and gas exploration opportunities in the Carnarvon, Otway, Cooper and Sydney Basins. Recent developments relating to Strike's holdings in the Carnarvon and Otway Basins hold the potential for significant oil and gas production, which will add materially to the value of Strike and to Perilya's investment.

1. OTWAY BASIN
Strike holds a 100% working interest in the VIC/P44 permit in the offshore Otway Basin area of Victoria.

Industry interest in this permit has significantly increased following the recent offshore gas discovery by Woodside, Origin and Benaris at Thylacine 1 and five onshore gas discoveries by Santos in the Port Campbell area.

Strike, within its VIC/P44 permit, has defined TCF scale prospects similar to Thylacine 1. In particular, Strike's Casino Prospect exhibits an Amplitude Versus Offset (AVO) anomaly on seismic data. AVO anomalies are indicators of the potential presence of gas and are similarly believed to be present on seismic data over the Thylacine discovery and some of the onshore Santos discoveries.

Strike is currently negotiating a Farminee Company into the Permit to drill the Casino Prospect and acquire 3D seismic over the most prospective area. Subject to farm-in negotiations and rig availability, a well could be drilled as early as August or September this year.

2. CARNARVON BASIN
Strike holds a 5% interest in WA-261-P and a 100% interest in TP/17 situated in the offshore Carnarvon Basin of Western Australia.

Within TP/17, Strike has defined on 3D seismic, the Altostratus Prospect, with the potential to host up to 100mm bbl of recoverable oil within the same formation which hosts the Stag Oilfield 20km to the north west.

The Altostratus prospect is to be drilled towards the end of this year.

3. COAL SEAM NATURAL GAS
Strike has Coal Seam Natural Gas interests in the Gunnedah Basin in NSW and the Cooper Basin in South Australia. Strike has recently appointed Mr Andy Lydyard as General Manager of its Coal Seam Natural Gas business in Australia. This appointment brings new focus to Strike's Coal Seam Natural Gas business, initiating a strategy to develop and expand these activities as a separate business unit to compliment Strike's conventional gas activities in Eastern Australia and its oil activities in the Carnarvon and Cooper Basins.

PORTMAN (31 MAY 2001)

N M Rothschild Australia Holdings Pty Limited became a substantial shareholder in Portman Limited on 27/03/2001 with a relevant interest in the issued share capital of 9,044,861 ordinary shares (5.30%).

SUN RESOURCES (31 MAY 2001)

Sun Resources NL ("Sun") wishes to update shareholders on development operations on the Eagle Oil/Gas Development, San Joaquin Basin, California, USA.

The well at 1600 hours WST (California) USA was at 3,750 metres and is currently directionally drilling ahead in a 5 7/8" hole to a measured depth of 4,557 metres where a horizontal well bore of up to 300 metres length is programmed in the reservoir target.

TANAMI GOLD (31 MAY 2001)

Homestake Gold of Australia Limited has commenced fieldwork on the Company's Western Australian Tanami tenements following a 6-8 week delay in start-up due to record wet season rains. Homestake will use two RAB drill rigs in order to catch-up on lost time. Initial RAB drill programs will complete regional testing of target areas selected by Homestake.

Evaluation of the known gold resources (Kookaburra, Sandpiper and Hawk) and mineralised occurrences (Camel, Camel North, Hutch's Find, Osprey, Finch, etc) is being carried out in parallel with the RAB drill and surface lag sampling programs. Based upon this evaluation, the Company is hopeful that a RC percussion drill program will commence in the September 2001 quarter to test various advanced prospects and to test for extensions to known gold resources.

VICTORIA PETROLEUM (31 MAY 2001)

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Eagle-1 well is drilling ahead at a depth of 3,826 metres.

The well will be drilled to a measured depth of 4557 metres. A horizontal well bore of up to 300 metres in length between 4252 - 4557 metres is programmed.

WESTERN AREAS (31 MAY 2001)

BULLFINCH NORTH JV PROJECT (WSA 60%) Nickel, Gold
Six conductive EM anomalies identified in the Trough Weft area during April were confirmed by an induced polarisation (IP) survey. These anomalies are high priority targets which will be tested initially by RC drilling to 150m depth. Drilling is planned to commence as soon as a rig is available, to determine whether the source of the anomalies is conductive sulphide mineralisation.

Two anomalies are located immediately north and west of the Trough Well nickel sulphide deposit where previous drilling reported significant intersections including 14m @ 2.74% nickel. Another is located 1km south of Trough Well and three anomalies form a 1000m long conductive zone located in a fault bound block of ultramafic and banded iron formation units, 900m west of Trough Well.

Western Areas has notified Polaris Metals that it has earned 60% interest in the Bullfinch North joint venture. The agreement enables Western Areas to earn up to 70% interest by 11 April 2002.

MOUNT JEWELL PROJECT (WSA 100%) Nickel
A conceptual mining study of the GSP nickel sulphide deposit prepared by an independent consultant has indicated that a small underground mining operation may be viable. Further drilling is required to confirm existing high grade intersections and test for extensions to the deposit. An initial three hole diamond drilling program is scheduled to commence on 5 June.

PLUMRIDGE PROJECT (WSA 100%) Platinum, Palladium
A State Deed for Grant of Mining Tenements was executed by the 12 members of the Wongutha native title claimant group. This Deed and an Aboriginal Heritage Survey report, which cleared the Plumridge project for exploration, have been lodged with the Department of Minerals and Energy. This should enable the central exploration licences at Plumridge to be granted at an early date.

NEW PROJECTS Nickel
Western Areas is currently evaluating opportunities that fit the company strategy to acquire advanced nickel sulphide exploration projects and bring nickel resources into production.

WOODSIDE PETROLEUM (31 MAY 2001)

Woodside Petroleum Ltd, Operator of the Mauritania, Area B Joint Venture, reports that the Scarabeo 7 drilling rig arrived at the Courbine-1 location on 26 May 2001 and is currently preparing to spud.
The Courbine-1 well is located offshore Mauritania in 1220 metres of water. Planned total depth is 4,000 metres.

Following the significant gas discovery in the Thylacine-1 exploration well, Woodside Energy Ltd is now drilling the Geographe-1 wildcat well in permit VIC/P43, about 55 kilometres south of Port Campbell in the Otway Basin.
The Ocean Bounty drilling rig spudded the Geographe-1 well, about 15 kilometres north of Thylacine-1 at 02:45 hours EST today.

Woodside Energy Ltd, operator of the North West Shelf Venture, has awarded A$485 million in contracts for the North West Shelf Train 4 expansion project on the Burrup Peninsula, Western Australia.
Further contracts are expected to be awarded over the next six months, including contracts for civil engineering works. These works will see in 2003 a peak of 2000 workers in Karratha undertaking the expansion.

CULLEN RESOURCES (30 MAY 2001)

ICON ENERGY (30 MAY 2001)

LAKES OIL (30 MAY 2001)

Lakes Oil N.L. has been advised by Origin Energy Resources Limited, as Operator for the PEL 72 Joint Venture, that as at 9.00 am this morning the McNamara Park-1 well was at a depth of 1565 metres and drilling ahead.

LAKES OIL (29 MAY 2001)

Lakes Oil N.L. has been advised by Origin Energy Resources Limited, as Operator for the PEL 72 Joint Venture, that as at 9.30 am this morning the McNamara Park-1 well was at a depth of 1220 metres and drilling ahead.

LAKES OIL (28 MAY 2001)

Lakes Oil N.L. has been advised by Origin Energy Resources Limited, as Operator for the PEL 72 Joint Venture, that as at 9.00 am this morning the McNamara Park-1 well was at a depth of 550 metres and preparing to run in the hole and drill ahead.

QUEENSLAND GAS COMPANY (28 MAY 2001)

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the company’s thirteenth well Aberdeen No. 1 has been completed as a potential coalbed methane producer. Aberdeen No 1 intersected 28.6 metres of coal within the seams of the upper Walloon Coal Measures.

Testing of the well during drilling produced good gas shows and water production of 2,410 barrels per day. These results are typical of the initial flows from coal bed methane wells drilled in the Powder River Basin in the USA. After dewatering, these wells produce significant gas flow rates.

Coals in the Macalister seam encountered in this well have been under-reamed to enhance production potential.

The well is now shut in awaiting equipment to be set up for production testing. It is anticipated that production testing will commence in July.

This well earns QGC a 50% interest in the Walloon Coal Measures in the area of Authority to Prospect 621P.

ANACONDA NICKEL (28 MAY 2001)

EMPIRE OIL & GAS (28 MAY 2001)

GYMPIE GOLD (28 MAY 2001)

HERON RESOURCES (28 MAY 2001)

HILLCREST RESOURCES (28 MAY 2001)

ILUKA RESOURCES (28 MAY 2001)

LACHLAN RESOURCES (28 MAY 2001)

LION SELECTION GROUP (28 MAY 2001)

MATRIX METALS (28 MAY 2001)

MOSAIC OIL (28 MAY 2001)

NOVUS PETROLEUM (28 MAY 2001)

RANGE RESOURCES (28 MAY 2001)

RIO TINTO (28 MAY 2001)

SUN RESOURCES (28 MAY 2001)

VICTORIA PETROLEUM (28 MAY 2001)

WOODSIDE PETROLEUM (28 MAY 2001)

GIANTS REEF MINING (25 MAY 2001)

LAKES OIL (25 MAY 2001)

Lakes Oil N.L.	7.50%
Victoria Petroleum NL	5.00%
Essential Petroleum Resources Limited	25.00%
Origin Energy Resources Limited	62.50%

PAN AUSTRALIAN RESOURCES (25 MAY 2001)

QUEENSLAND GAS COMPANY (25 MAY 2001)

BARRA RESOURCES (25 MAY 2001)

CUE ENERGY RESOURCES (25 MAY 2001)

DEEPGREEN MINERALS (25 MAY 2001)

The directors of Deepgreen Minerals wish to advise that the following announcement was made today by Western Canadian Coal Corporation.

After the proposed placement, Deepgreen will hold approximately 27% of the issued capital of Western Canadian Coal and is the company's largest shareholder.

Western Canadian's business plan is for coal production to commence in 2003 at a rate of 1 million tonnes and increase to 5 million tonnes by 2005.

THE ANNOUNCEMENT FROM WESTERN CANADIAN COAL STATES:
AGREEMENTS WITH MITSUI MATSUSHIMA AND DEEPGREEN MINERALS
Western Canadian Coal Corp (CNDX: WTN) (the "Company") advises that it has negotiated arrangments that will provide medium term funding and market development for future production from its extensive holdings in the Peace River coalfields in northeast British Columbia..........

GALLERY GOLD (25 MAY 2001)

JULIA CORPORATION (25 MAY 2001)

OIL COMPANY OF AUSTRALIA (25 MAY 2001)

PAN PACIFIC PETROLEUM (25 MAY 2001)

PRIMA RESOURCES (25 MAY 2001)

SUN RESOURCES (25 MAY 2001)

UNION CAPITAL (25 MAY 2001)

VICTORIA PETROLEUM (25 MAY 2001)

LAKES OIL (24 MAY 2001)

Lakes Oil N.L.	7.5.0%
Victoria Petroleum NL	5.0%
Essential Resources Limited	25.0%
Origin Energy Resources Limited	62.5%

ANGLOGOLD (24 MAY 2001)

AMITY OIL (24 MAY 2001)

BLIGH OIL & MINERALS (24 MAY 2001)

CARNARVON PETROLEUM (24 MAY 2001)

CITYVIEW CORPORATION (24 MAY 2001)

EMPIRE OIL & GAS (24 MAY 2001)

GLENGARRY RESOURCES (24 MAY 2001)

HARDMAN RESOURCES (24 MAY 2001)

HILLCREST RESOURCES (24 MAY 2001)

MINERALS CORPORATION (24 MAY 2001)

NEWCREST MINING (24 MAY 2001)

OIL SEARCH (24 MAY 2001)

PACMIN MINING CORPORATION (24 MAY 2001)

SUN RESOURCES (24 MAY 2001)

VICTORIA PETROLEUM (24 MAY 2001)

LAKES OIL (23 MAY 2001)

CROESUS MINING (23 MAY 2001)

DELTA GOLD (23 MAY 2001)

GATEWAY MINING (23 MAY 2001)

GOLD PARTNERS (23 MAY 2001)

GYMPIE GOLD (23 MAY 2001)

HARDMAN RESOURCES (23 MAY 2001)

MOSAIC OIL (23 MAY 2001)

OXIANA RESOURCES (23 MAY 2001)

SUN RESOURCES (23 MAY 2001)

UNION CAPITAL (23 MAY 2001)

VICTORIA PETROLEUM (23 MAY 2001)

WESTGOLD RESOURCES (23 MAY 2001)

WOODSIDE PETROLEUM (23 MAY 2001)

AUSTINDO RESOURCES (22 MAY 2001)

.............

In conclusion:

ICON ENERGY (22 MAY 2001)

Icon reports that drilling operations in Icon Victory Financial No.1 well in Louisiana have reached a depth of 7277 feet in the Frio Formation. The well is just above the anticipated sandstone main pay PUD sections and has encountered a problem over a suspected fault above this zone. The problem has caused the drill pipe to stick endangering down hole operations.

As a consequence, a decision has been taken to come up the hole and sidetrack around the zone which is continuing to give trouble. A cement plug will be set and the sidetrack hole should be back to the main PUD objective in 3 to 4 days.

This delay is regretted but this kind of problem is common in the Gulf Coast in Louisiana and is handled routinely in drilling salt domes.

Icon expects no serious problems or further delays in the drilling of the sidetrack and will position the sidetrack path away from the problem zone using a down hole steering motor.

The gas shows encountered have continued in the mud with the highest being recorded at 1700 units to total gas with C4 (butane) comprising 60% of the gas. This type of response on the gas metering equipment usually indicates the presence of oil.

For more information, click here.

LAKES OIL (22 MAY 2001)

AKD / ASHBURTON MINERALS (22 MAY 2001)

ANZOIL (22 MAY 2001)

ARC ENERGY (22 MAY 2001)

AURORA GOLD (22 MAY 2001)

BHP (22 MAY 2001)

BLIGH OIL & MINERALS (22 MAY 2001)

BULLION MINERALS (22 MAY 2001)

CENTAMIN EGYPT (22 MAY 2001)

CROESUS MINING (22 MAY 2001)

DELTA GOLD (22 MAY 2001)

DIORO EXPLORATION (22 MAY 2001)

EMPIRE OIL & GAS (22 MAY 2001)

HARDMAN RESOURCES (22 MAY 2001)

MAIDEN GOLD (22 MAY 2001)

MARYMIA EXPLORATION (22 MAY 2001)

MATRIX METALS (22 MAY 2001)

NEWCREST MINING (22 MAY 2001)

ORIGIN ENERGY (22 MAY 2001)

OXIANA RESOURCES (22 MAY 2001)

PLATSEARCH (22 MAY 2001)

TANAMI GOLD (22 MAY 2001)

VICTORIA PETROLEUM (22 MAY 2001)

WOODSIDE PETROLEUM (22 MAY 2001)

AUSTINDO RESOURCES (21 MAY 2001)

The Company is pleased to announce that it has entered into a Heads of Agreement with Aurora Gold Ltd to acquire its 85% interest in the Toka Tindung Gold Project in North Sulawesi, Indonesia. The remaining 15% of the Project is held by the Austindo Group of Indonesia.

Under the Heads of Agreement, which is subject to due diligence, the Company will pay Aurora Gold a gross royalty equating to 1.7% of gold contained in dore and a 1.7% NSR on any gold and copper in concentrate capped at an aggregate of 1.5 million ounces of gold produced and sold. No other consideration is payable to Aurora Gold.

The Toka Tindung Gold Project comprises a number of epithermal deposits in the Minahasa district, located 35 km NE of Manado, the provincial capital of North Sulawesi. The main deposit is a broad zone of gold bearing quartz veins and stockworks hosted in silicified volcaniclastic rocks. The mineralised system has a north-south strike length exceeding 1.7 km and is up to 200 m wide. The rest of the tenements surrounding the deposits are also considered prospective for further discoveries.

Aurora Gold has previously announced an in situ Mineral Resource for the immediate Toka Tindung Project area of 14 million tonnes grading 3.2 g/t Au and 8 g/t Ag. This equates to approximately 1.5 million ounces of contained gold.

Aurora Gold has completed feasibility studies on the Project, which envisaged milling 1.5 mtpa, but placed the Project on care and maintenance in September 1999.

The Company acknowledges the issues encountered by Aurora Gold with the Project. These include the presence of small scale mining activities in parts of the tenement area, away from the main Toka Tindung deposit, the environmental issues and challenges associated with those activities, and uncertainties attaching to the introduction of regional autonomy. Nevertheless at this stage the Company believes that these difficulties can be managed with the Company having access to its major shareholder’s Indonesian knowledge and operating expertise.

Upon successful completion, the acquisition of Toka Tindung when added to the Company’s existing resource base at Cibaliung would significantly enhance Austindo Resource Corporation’s overall mineral inventory, and represent a major step towards achieving gold producer status.

CULLEN RESOURCES (18 MAY 2001)

PAN AUSTRALIAN RESOURCES (18 MAY 2001)

ACCLAIM EXPLORATION (18 MAY 2001)

Acclaim has reached agreement with the Traditional Owners of the area covered by its Exploration Licence 69/535 at Wingellina and their representatives on the Ngaanyatjarra Land Council on the terms of an Exploration Agreement entitling the Company to have access to and explore within the Licence area.

The Company is presently awaiting the results of a detailed interpretation of the recently completed EM survey in order to define a comprehensive RC drilling program

AKD (18 MAY 2001)

A 3rd phase drilling programme comprising 80 RC holes totalling approximately 2,500m has commenced at the Wonarah phosphate deposit, located 240km east of Tennant Creek in the Northern Territory. The programme will include infill and step-out drilling within the western part of the Joint Venture's tenements.

An Inferred Mineral Resource of 115 million tonnes grading 22% phosphate (P(2)0(5)) (using a 15% P(2)0(5) cut-off grade), has been estimated by joint venture partner, Rio Tinto, for a 23sqkm area within the southern portion of the Wonarah phosphate deposit.
Beneficiation test work on the phosphate ore to date is encouraging and shows potential for the production of an acceptable fertiliser product. Further information on the resource statement is available from the Company's March 2001, Quarterly Report.

Rio Tinto has earned 80% in the project having spent a total of $1.4m in exploration and will now free carry AKD's 20% interest in the project through to a decision to mine or by spending $10 million in expenditure, whichever comes earlier.

AMITY OIL (18 MAY 2001)

Construction of the Gocerler gasfield to Misinli industrial area, in the Republic of Turkey, made excellent progress with better weather during the last 7 days.

The pipeline is 8 inches diameter, API standard, PVC coated steel line, welded and will be buried for safety and environmental reasons.
The pipeline is designed to carry a maximum of 30 million cubic feet (849,600 cubic metres) of natural gas per day. Total pipeline length is about 17 kilometres.

AUSTRALIAN WORLDWIDE EXPLORATION (18 MAY 2001)

AWE announced it was undertaking a $37 million equity raising to partially fund its interest in the development of the BassGas Project.
The BassGas Project involves the development of petroleum resources in the Bass Basin, including the Yolla and White Ibis gas and condensate fields, and several surrounding exploration prospects.

The equity raising comprises a combined placement and pro rata offering of ordinary shares in each case at 50 cents per share. Both are fully underwritten by Macquarie Equity Capital Markets Limited.
The placement will involve an issue by way of private placement of 17,776,360 ordinary shares to certain institutions.

BHP (18 MAY 2001)

BHP announced that at the EGM held earlier today relating to the proposed DLC Merger with Billiton, all resolutions were passed by BHP shareholders.

BRITANNIA GOLD (18 MAY 2001)

The Company advised that further to the business of the General Meeting of Shareholders of 4 May 2001 the Company has completed the placement of 10,000,000 shares at $0.20 and 63,732,000 options at $0.01 per option raising $2,637,320 before costs.
The Company has been advised by ASX that compliance issues have been met and the Company will recommence trading on ASX (as Britannia Gold NL - BNA and BNAO) on Monday, 20 May 2001.

Upon completion of the Statutory period on or about 15 June 2001 the Company's name will change to Solbec Pharmaceuticals Limited and the securities will list on the ASX industrials board.

CLUFF RESOURCES (18 MAY 2001)

A factory capable of cutting two to three thousand carats of rubies and sapphires per month is being established by Cluff Resources Pacific in Thailand. It is expected to be fully operational within several weeks.

CREST MAGNESIUM (18 MAY 2001)

Following shareholder approval in late March 2001 and ASIC approval granted earlier today, the Company is now to be known as Indcor Limited.
As from the commencement of trading on Wednesday 23 May, the company trading code shall be ICO.

CUE ENERGY RESOURCES (18 MAY 2001)

Cue Energy Resources Limited (Cue) advises that at 6am on 18 May 2001 the Oyong-1 well in the Sampang PSG offshore East Java, was at 667 metres after setting 13(3/8)" casing at 500 metres.
The well is programmed to a total depth of 2,271 metres with drilling expected to take 30 days on a dry hole basis.

ENERGY DEVELOPMENTS (18 MAY 2001)

Energy Developments, in partnership with Anglo Coal (a subsidiary of Anglo American plc), is developing an innovative power generation project which will be fuelled by waste methane gas from the German Creek coal mine in central Queensland.
The project will utilise new technology, the Carburetted Gas Turbine ("CGT"), developed by Energy Developments for the utilisation of ultra lean fuels in gas turbines.

EXCO RESOURCES (18 MAY 2001)

A general meeting of the shareholders of Exco Resources NL is to be held at the offices of KPMG, 161 Collins Street, Melbourne, Victoria on Friday 15 June 2001.
The purpose of the meeting is to seek approval on two resolutions in relation to the issue of ordinary shares, nominal options and options for the acquisition of mining interests, and approval to the issue of ordinary shares pursuant to a placement.

NEW HAMPTON GOLDFIELDS (18 MAY 2001)

NHG sold its entire shareholding in Croesus Mining NL; deriving proceeds of approximately $6.4 million.

NOVUS PETROLEUM (18 MAY 2001)

Novus Petroleum Limited, through a subsidiary, has signed an agreement with BNP Petroleum Corporation (BNP) of Texas to earn a 30% working interest in the Padre Island Project Area close to Corpus Christi in Southern Texas. This proven, hydrocarbon-producing area is part of the Gulf of Mexico Basin. The agreement will lead to high-impact exploration drilling activity, as well as lower-risk in-fill drilling on established but currently shut-in fields. The first well, La Playa-1, is currently expected to spud in third quarter 2001.

OIL COMPANY OF AUSTRALIA (18 MAY 2001)

Woleebee No 01, a coal seam methane exploration core hole, is situated approximately 100 metres west of Roma 04, latitude 26 deg 15 min, 01.78 sec south, longitude 149 deg 50 min 15.09 sec east. The well was spudded at 08:00 hours on May 10, 2001. At 06:00 hours today the rig was drilling ahead at a depth of 396 metres RT 168 mm surface casing was set at 97.0 metres RT. Progress for the week was 396 metres.

A drill stem test was performed over the interval, 273 to 288 metres RT, and 369 to 384 meters, recovering formation water in both tests.

The primary targets of the well are the upper Juandah coal measures.
Proposed total cored depth of the well is 330 metres RT.

ORIGIN ENERGY (18 MAY 2001)

Origin Energy Resources Limited, as Operator for T/30P, provides the following progress report for the drilling of the Thylacine 1 well in the offshore Otway Basin, Tasmania.

Thylacine 1 is currently drilling ahead at a depth of 2340mRT after encountering gas indications in interbedded sands and shales over a gross interval of 260m. A core was cut over the interval 2165mRT to 2201mRT with good recovery. The forward plan is to drill ahead to a depth of 2695mRT and then conduct a wireline evaluation program. The significance of the gas shows cannot be assessed until this program has been undertaken.

SANTOS (18 MAY 2001)

Santos Limited, as Operator for PEP 154 is pleased to announce its fifth gas discovery in the Victorian section of the Otway Basin in 2001.

The exploration wildcat well Naylor 1 has intersected a potential 84 metre gross gas column in the Cretaceous Waarre Sandstone over the interval 2028 metres to 2112 metres.

Wireline logs are currently being evaluated and indications are of at least 30 metres net of gas pay. After completion of wireline logs Naylor 1 will be cased and suspended as a future gas producer. The well reached a total depth of 2157 metres.


Woodside Energy Ltd, the Operator of the Legendre Venture in which Santos has a 22.56% interest, reported on 18 May 2001 that initial oil production from the Ocean Legend production facility commenced on 17 May 2001 from the first well. Production is predicted to steadily increase over the next couple of months to a maximum 50,000 barrels a day once the drilling program is completed.


Maple-Brown Abbott Limited decreased its relevant interest in Santos Limited on 15/05/2001, from 50,899,747 ordinary shares (8.32%) to 44,496,426 ordinary shares (7.26%).

STRIKER RESOURCES (18 MAY 2001)

A total of up to 37,500,000 fully paid ordinary shares in the Company are offered for subscription at a price of 8 cents each, payable in full on application. The Issue will raise $3,000,000 if fully subscribed.

It is intended to issue this Prospectus to selected clients of certain stockbroking firms and to selected private investors. This Prospectus is not intended to be issued to, and is not to be relied upon by, any persons other than those selected investors.

PURPOSE OF THE ISSUE
The purpose of the issue is to provide working capital and fund the ongoing evaluation of the Ashmore pipe cluster, Seppelt pipes, Forrest River and Casuarina project areas and exploration on the Company's North Kimberley diamond projects.

SUN RESOURCES (18 MAY 2001)

Sun wishes to update shareholders on development operations on the Eagle Oil/Gas Development, San Joaquin Basin, California, USA.
The latest advice from the operator is that the Nabors rig #473 will complete rigging up and commence operations early weekend. Cutting the window in the casing will commence at 3490 metres for a subsequent sidetrack to target reservoir at a measured depth of 4577 metres. A horizontal well bore of up to 300 metres will then be drilled within the target reservoir for testing.

UNION CAPITAL (18 MAY 2001)

Union advised that a major intersection of zinc mineralisation, 200 metres south of the previously drilled resource area, has been located in Hole 7931 at the Mehdiabad Project in Iran. The assay results from this hole indicate 221 metres of mineralisation, including 82 metres at 2.7% zinc and 139 metres at 8.5% zinc.

VICTORIA PETROLEUM (18 MAY 2001)

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Nabors Rig #473 was moved onto the Eagle location on 8th May and is continuing rigging-up operations.
The commencement of drilling of Eagle-1, via a sidetrack in the original 1986 well bore, is forecast to commence early next week.

WOODSIDE PETROLEUM (18 MAY 2001)

Woodside Energy Ltd, operator of the Legendre Venture, advised that initial oil production from the offshore production facility, Ocean Legend, has commenced.

The Ocean Legend is located over the Legendre North and Legendre South oil fields in Production Licence WA-20-L, about 100 kilometres north of the Burrup Peninsula and about 35 kilometres south-east of the Wanaea-Cossack oil fields.

Hook-up, testing and commissioning activities commenced on 15 January 2001 with the arrival of the Ocean Legend on site. Initial oil production was achieved on 17 May after completion of the first development well. Production is now planned to increase steadily as the remaining three wells are progressively completed

The estimated final cost of the Legendre oil fields development remains within the forecast budget of A$110 million. The fields are expected to have a maximum production of 50,000 barrels a day and a life of between three to eight years.


Commonwealth Bank of Australia became a substantial shareholder in Woodside Petroleum Limited on 16/05/2001 with a relevant interest in the issued share capital of 33,978,533 ordinary shares (5.10%).

ICON ENERGY (17 MAY 2001)

Icon Energy reports that Icon/BCI Victory # 1 in Louisiana USA has reached a depth of 7,228 feet as at 4.00 pm Wednesday 16 May 2001 (United States Central Time).

The well penetrated the top of the Frio Formation at 7,065 ft close to prognosis. At this depth strong hydrocarbon shows of methane were recorded with values up to 90 units on the mud logging gas detector against a background of 10 – 15 units. The shows were observed over an interval of 60 ft in limestone.

At 7,228 ft the first sandstone was penetrated below the limestone and gas shows increased to 1,200 units. Conditioning and raising of the mud weight was required over this interval and the well is about to drill ahead following the raising of the mud weight to 10.2 pounds per gallon to maintain the hole in good condition.

These mud log shows will be further evaluated when the electric logs have been recorded in the well.

For more information, click here.

BEACH PETROLEUM (16 MAY 2001)

Beach Petroleum NL says it expects gas sales to provide a significant new and strong revenue stream for the company in the new financial year.

This follows the success near Port Campbell this week of the Naylor-1 well in PEP 154, which has been completed as a commercial gas producer after intersecting at least 30 metres of net gas pay.

The well concluded a four well drilling program commenced in PEP 154 in February this year under a joint venture between Santos (90% interest and Operator) and Beach (10% interest). All four wells were successful gas discoveries.

TRIAKO RESOURCES (17 MAY 2001)

Developments at Mineral Hill

In the Quarterly Report to 31 March 2001, the Company announced that the Mineral Hill mine had produced its highest quarterly output of gold since the mine re-commenced production in September 1995 (14,705 ounces). It is now advised that:

· further excellent results were recorded in April 2001 with output of 8,392 ounces of gold. The gold feed grade averaged 17.5 g/t for the month. The year to date unit cash operating cost of production was A$188/ounce of gold after copper credits.

· very encouraging gold grades have been returned from face sampling of development on the 137 sill in the Eastern Ore Zone (see figure). Four metre face assays on the Eastern Ore Zone received to date average 21g/t gold (uncut) or 11 g/t gold (cut) over a strike length of 87 metres and 42 g/t gold (uncut) or 23 g/t gold (cut) over a strike length of 50 metres on the Footwall lode. High gold grades are cut to a maximum of 100 g/t gold over a 1 metre width.

· in May 2001 feed grades have averaged 8.6 g/t gold and 1.15% copper being sourced from more copper rich stopes and lower grade development.

· the decline will be extended to the 119 level for development of the Eastern Ore Zone and Footwall lode and underground diamond drilling is being planned for June 2001 to test these lodes down to the RL 80 level.

· the access drive to the Parkers Hill resource has reached the mineralised zone and widespread copper mineralisation is visible. Assay results are awaited.

· the Company's working capital situation has improved significantly since 31 December 2000. As at 30 April 2001 the unaudited accounts show working capital of $12 million. The working capital includes $5.094 million received from the return of capital from Buka Minerals Limited in early April 2001.

BEMAX RESOURCES (16 MAY 2001)

For details, click here.

CULLEN RESOURCES (16 MAY 2001)

The Directors of Cullen Resources (CUL) are pleased to announce that a Heads of Agreement has been signed between Cullen Exploration Pty Ltd (Cullen) and WMC Resources Ltd (WMC) which gives WMC the exclusive right to form a Joint Venture on Cullen’s 100% owned tenements (E53/535, 568, 818, 837) at Gunbarrel in the north east Yilgarn of WA to explore for nickel sulphide deposits. The main commercial terms of the Joint Venture are as follows:

• WMC will carry out a technical assessment of the tenements as part of a six month Evaluation Phase.
• WMC can then proceed to an Earning Phase where it can earn a 75% interest in the tenements by spending $1,000,000 over a period of 4 years.
• During the period WMC will be obliged to maintain the tenements in good standing.
• Cullen’s 25% interest will be free carried by WMC to a Decision to Mine.

For details, click here.

GOLDEN CROSS RESOURCES (16 MAY 2001)

MACARTHUR COAL (16 MAY 2001)

Macarthur Coal is an Australian resources company developing a new generation of coal assets in Queensland’s Bowen Basin.
This Prospectus offers 39 million Shares for subscription at $1.00 per Share to raise $39 million, which on listing, will represent approximately 30.4% of the issued capital of the Company.
The Offer is fully underwritten by ABN AMRO Morgans Corporate Limited.

ANGLOGOLD (16 MAY 2001)

AngloGold announced the resignation of Mr Michael King as a non-executive director of AngloGold. Mr King has served on the board of AngloGold since 1998 and his resignation comes as a consequence of his retirement from the board of Anglo American plc. His knowledge and experience will be sorely missed.

Mr Bob Garnett ceases to be an alternate director due to Mr King's resignation.

AngloGold is pleased to announce that Mr Bill Nairn has been appointed a non-executive director of AngloGold. Mr Nairn was first appointed a non-executive director on 1 January 2000, a position he held until his appointment as an alternate to Mr Tony Trahar on 24 October 2000.

Mr Harry Calver has been appointed as alternate director to Mr Nairn.

AZTEC RESOURCES (16 MAY 2001)

The Directors of Aztec Resources Limited wish to advise that following the overwhelming support of shareholders in approving the purchase of Brockman Minerals Pty Ltd that they have settled the purchase and allotted 85,000,000 vendor restricted Aztec Shares to the vendors.

Brockman Minerals Pty Ltd holds two mining lease applications M80/509 and M80/510 covering an area of 20 square kilometres including the Brockman Tantalum/Polymetallic Deposit which is located 18 kilometres south east of Halls Creek in the East Kimberley region of Western Australia.

BEACH PETROLEUM (16 MAY 2001)

Naylor-1 has reached a total depth of 2157 metres. Gas shows were encountered during drilling in the Waare Sandstone. These shows are currently being evaluated further by wireline logs.

BHP (16 MAY 2001)

The BHP Board of Directors welcomed the result of the Billiton shareholders' vote on the proposed DLC merger with BHP. All resolutions were passed by Billiton shareholders.

BOLNISI GOLD (16 MAY 2001)

Following shareholder approval of the proposal, existing optionholders with registered addresses in Australia and New Zealand will be offered one new option for every 30 June 2001 option which they hold. The offer is not underwritten and is non-renounceable.
There is no minimum acceptance condition and any shortfall may be allocated by the Directors at their discretion.

CENTAMIN EGYPT (16 MAY 2001)

Centamin wishes to announce the continuation of significant assays highlighting the probability of this new high grade zone developing into a very rich 'ounces to the tonne' large deposit.

New assays from hole SDDH173 on the same section 10400N have returned:

6m @ 15.49g/t Au (298m - 304m) containing 3m @ 28.8g/t Au (301m - 304m)

This intersection is within a 48m mineralised length (256m - 304m) which also contains 1m @ 26.8g/t (278m - 279m). This hole is approximately 150m east of SDDH169 and 30 deg down dip of the previous intersection of 14.25m @ 94.43g/t.

COBRA RESOURCES (16 MAY 2001)

The securities of Cobra Resources will be suspended from official quotation immediately, following the announcement of its proposed acquisition of Freight 1 Australia Limited.

The deal, which will see Cobra undertake a one-for-three share reconstruction and change its name to Freight 1 Australia, will be followed by a $4-5 million equity raising. The proceeds of this will be partly used to accelerate the development of Freight 1's internet-based subsidiary, Loadmatch.com.au Pty Ltd, and partly to provide funding for the new exploration company, Cobra Exploration.

The assets to be transferred to Cobra Exploration comprise Cobra's lateritic nickel projects in Queensland and PNG, its chrysoprase mine at Marlborough in Queensland and various tenements prospective for nickel, cobalt and Platinum Group Metals (PGM's) in Victoria. They also include Cobra's highly prospective tenements in the West Musgrave region of Western Australia, in close proximity to W M C's major sulphide nickel and copper discovery.

CROESUS MINING (16 MAY 2001)

Harmony Gold (Australia) Pty Ltd, Harmony Gold Mining Company Limited became a substantial shareholder in Croesus Mining NL on 01/03/2001 with a relevant interest in the issued share capital of 23,203,601 ordinary units (21.45%).

HARDMAN RESOURCES (16 MAY 2001)

Hardman Resources NL reports that the Chinguetti-1 exploration well, offshore Mauritania, is currently running wireline logs after reaching a total depth of 2,620 metres.

The well has intersected several oil bearing sandstones in the primary objective over a gross hydrocarbon interval of 86 metres. A shallower secondary objective contains gas bearing sandstones over a 7 metre interval.

The wireline logging and evaluation programme is continuing. Further information on the well results and the future programme will be reported at the completion of wireline logging in the next few days.

The suspension of trading in the securities of Hardman Resources NL will be lifted immediately, following the receipt of an announcement concerning preliminary results of wireline log evaluation at the Chinguetti-1 well, offshore Mauritania.

HIGHLANDS PACIFIC (16 MAY 2001)

Highlands Pacific has resumed full ownership of the high grade Kainantu gold project. Due to a reassessment of its corporate strategy Nippon Mining has agreed to withdraw from the joint venture.

IMPERIAL ONE (16 MAY 2001)

PROSPECTUS- Non-renounceable pro-rata rights issue of up to 82,877,693 fully paid ordinary shares at an issue price of 3 cents per share on the basis of two (2) new shares for every 7 shares held with one (1) 2004 option for every two (2) shares subscribed for.

JULIA CORPORATION (16 MAY 2001)

Julia has secured finance for the exploration, development and purchase of its large tantalite holdings in the Northern Territory.
Under the terms of an agreement with London Mining Finance PLC of the UK the Company has access to A$3m equity finance and a further A$3m project finance under the following terms and conditions:
London Mining Finance PLC ("LMF") will purchase a 50% interest in the tenements by making the following payments:
1. An initial $250,000.
2. A second payment of $250,000 before 30th September 2001.
3. A third payment of $1.5m before 31st December 2001.
4. A fourth payment of $1.0m to complete a Feasibility Study before June 30th, 2002.

In addition LMF will make available $3m loan funds for plant construction under normally accepted terms and condition.

Julia shareholders shall also benefit from the arrangement by being given a priority entitlement to a new London Company to be floated by LMF in London. This Company will have diversified global tantalite interests.

MAIDEN GOLD (16 MAY 2001)

Maiden Gold NL advised that it has received acceptances from all option holders and approximately 93% of shareholders of Universal Gold NL pursuant to the takeover offer approved by the Company at the EGM on 9th May 2001.
Accordingly Conditions 4.10(a)(i) to (iii) of the Offer contained in the Prospectus dated 3 April 2001 have been satisfied and the directors have declared the offer free of the remaining conditions contained in Section 4.10(a).

MAJESTIC RESOURCES (16 MAY 2001)

Majestic Resources NL announces it has launched defamation proceedings against Karl Simich, Chairman of Namakwa Diamond Company NL ("Namakwa"), Namakwa and N M Rothschild and Sons (Australia) Limited, over false and defamatory statements regarding Majestic's Riet River diamond mine in South Africa.
The action, in the Supreme Court of Western Australia, will demonstrate that at all times Majestic operated with the full knowledge and consent of the Department of Minerals and Energy (DME) in South Africa.

MICHELAGO (16 MAY 2001)

Michelago is pleased to announce that Taylor Collison Limited, Sharebrokers and Investment Advisers, has agreed to underwrite a placement of 22,500,000 fully paid ordinary shares at a price of 1.8 cents per share, to raise approximately $405,000 before costs of the placement.

The funds raised by the placement shall be directed towards ongoing corporate expenses and exploration activities, in addition to the assessment of new investment opportunities for the Company.

MOLOPO AUSTRALIA (16 MAY 2001)

Molopo Australia NL has been advised by Oil Company of Australia Limited (OCA) that it has earned a 50% interest in ATP564P, Bowen Basin, Queensland.
This was achieved following the contribution by Molopo of $1.75 million to OCA, which was used to fund 2 coalbed methane production wells, 3 coalbed methane cored exploration wells and the processing of over 20,000 line kms of aeromagnetics. Results from all five wells are expected progressively over the coming weeks and months.
A Joint Venture in relation to Petroleum Operations on ATP564P will now be established between Molopo and OCA.

RIGHTS ISSUE PROSPECTUS
The directors of Molopo Australia NL wish to advise that the Rights Issue Prospectus dated 4th April 2001 has closed and raised $304,291 from the issue of 6,085,825 ordinary shares and free attaching options.
In addition, $400,000 has been received from the underwriters to the Prospectus.
A total of 14,085,825 shares and options will be allotted to applicants and underwriters to the Rights Issue on 18th May 2001.

The shortfall of 21,346,745 shares and free attaching options not taken up under the Rights Issue can be issued at the discretion of directors under the same terms & conditions as the Rights Issue Prospectus dated 4th April 2001. Pursuant to ASX listing rule 7.2, securities must be issued within 3 months of the closing date of the Rights Issue Prospectus.

MURCHISON UNITED (16 MAY 2001)

Murchison United announced that following the sustained period of historically low tin prices, a detailed review of the Renison Bell mine operations has been completed.

The review has identified a number of opportunities to substantially improve productivity and efficiency within the mining and milling operations at Renison Bell that will result in the workforce being significantly reduced. Retrenchment packages are being made available to eligible employees and a comprehensive outplacement service is being provided.

Whilst management regrets the necessity for the retrenchments, action was essential in order to ensure the long term future of the Renison Bell mine.

ORIGIN ENERGY (16 MAY 2001)

Origin Energy Resources Limited, as Operator for T/30P, provides the following progress report for the drilling of the Thylacine 1 well in the offshore Otway Basin, Tasmania.

Thylacine 1, which was spudded on 5 May 2001, has been drilled to a depth of 2165mRT. As at 15 May preparations are being made to cut core after encountering gas shows in the primary objective Waarre Formation. At this point of time it is too early to comment on the significance of these gas shows.

Thylacine 1 is being drilled using the Ocean Bounty semi submersible drilling rig and is planned to be drilled to a depth of at least 2390 mRT. The well is located in Tasmanian offshore exploration permit T/30P, approximately 70 kilometres from the Victorian coastline off Port Campbell.

UNION CAPITAL (16 MAY 2001)

Union Capital Limited announces the placement issue of 36,216,996 shares at 4 cents per share to raise a net of $1.357 million after commission.

The terms of the placement also requires the directors of Union Capital to put before shareholders at the next General Meeting a resolution to issue 32,216,996 listed options to all but one of the applicants to the placement.

The funds raised will be used for the on-going diamond drilling program of proving reserves and core for metallurgical testing and pre-feasibility at the Mehdiabad Zinc Project in Iran and to fund further converting equity interest in e-mail software house Jab Creative Limited.

WEST OIL (16 MAY 2001)

West Oil has been advised by AEC, the operator of its joint venture in AC/P22 in the Timor Sea, that the Joint Authority has granted a variation to the Year 5 work program.
The work obligations are now to reprocess existing 3D seismic instead of acquiring a further 200 sq km of 3D seismic. The Joint Venture will be carrying out extensive reprocessing of the existing 300 sq km of 3D seismic to better define its discoveries at Puffin-5 and Puffin-2 and other existing prospects in AC/P22, including Puffin South, Sea Eagle and other identified leads.

WOODSIDE PETROLEUM (16 MAY 2001)

Woodside Petroleum Ltd, Operator of the Mauritania, Area B Joint Venture, reports that the Chinguetti-1 exploration well, located in offshore Mauritania, is currently running wireline logs after reaching a total depth of 2620 metres.
The well has intersected several oil bearing sandstones in the primary objective over a gross hydrocarbon interval of 86 metres. A shallower secondary objective contains gas bearing sandstones over a 7 metre interval. The logging and evaluation program is continuing.

Woodside's interest in Area B is 35%. Other participants are British Borneo International Limited (ENI/AGIP) (35%), Hardman Petroleum (Mauritania) Pty Ltd (18.6%), Fusion Oil & Gas NL (6.0%), Planet Oil (Mauritania) Limited (3.0%), Elixir Corporation Pty Ltd (2.4%).

ANACONDA NICKEL (16 MAY 2001)

The Company is at an advanced stage in the finalisation of a proposal from a major international fund operating in many countries with over $20 billion in assets. The proposal, for the issue of new shares in Anaconda, is before the board of Anaconda and the Company is discussing the terms of the proposal with major shareholders.
Further, a major project finance facility repayable over six years is also under consideration.

BHP (16 MAY 2001)

BHP announced approval for a production enhancement project on the Laminaria oilfield offshore North Western Australia.
The project will accelerate production from the existing reserves base and also access additional undeveloped oil reserves, resulting in an additional 21 million barrels of production over the first two years after start up.
The development comprises the drilling, completion and hook up of two new subsea horizontal wells into the Northern Endeavour floating production system.
The increased production is scheduled to commence in mid 2002 with an initial rate of approximately 65,000 barrels per day.

BLIGH OIL & MINERALS (16 MAY 2001)

NEW ZEALAND - PEP38719, TARANAKI BASIN, BLIGH INTEREST: 5.00%
The Kauri-1 exploration well spudded on 3 May 16" hole was drilled to 1233 metres and surface casing set at 1232 metres. The current operation is preparing to drill ahead in 12(1/4)" hole.

CARNARVON PETROLEUM (16 MAY 2001)

Further to Carnarvon's recently announced oil discovery at the Wichian Buri- N1 (WB-N1) well in the SWIA Concession in Central Thailand, the company advises that preparations are presently underway at the site of the next well, WB-N2, to allow drilling to commence on or about 18th May.

The new well is located approximately 500m southwest of WB-N1 and 1.5 kilometres north of the Wichian Buri field producing wells WB-1 and WB-A1. WB-N2 is an appraisal well designed to test the productive F-Sandstone package in a down-dip position from WB-N1 to confirm the extent of the newly discovered accumulation. The well should also help confirm direct communication between the currently producing part of the Wichian Buri field and the northern accumulation.

EAST COAST MINERALS (16 MAY 2001)

EAST COAST MINERALS NL (ECM) 70% - LEGEND MINING LTD (LEG) 30%
GEOPHYSICAL AND AERIAL PHOTOGRAPHIC SURVEYS
Aerial magnetic, radiometric and multispectral surveys were flown over the Joint Venture tenements by Fugro Aerial Surveys.
The surveys included a complete coverage of Mining Leases M47/340, 341, 342 & 343 and Exploration licence E47/587 (Mining licence applications M47/414 & 415).

The combination of geophysics and photography will provide information on geological, structural and lithological mapping. It is expected that interpretation of the surveys will provide well-defined targets for platinum, platinoids, silver and copper/nickel deposits on the Munni Munni areas owned by the Joint Venture.
Survey results and photographs are expected in three weeks.

HARDMAN RESOURCES (16 MAY 2001)

The securities of Hardman will be suspended from quotation immediately, at the request of the Company, pending an announcement on the Chinguetti-1 well, offshore Mauritania.

VICTORIA PETROLEUM (16 MAY 2001)

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Nabors Rig #473 was moved onto the Eagle location on 8th May and is continuing rigging-up operations.
The commencement of drilling of Eagle-1, via a sidetrack in the original 1986 well bore, is forecast to commence later this week.

ICON ENERGY (15 MAY 2001)

Icon Energy Limited reports that Icon/BCI Victory No.1 is drilling ahead at 6630 feet as at 5 pm, (US Time), Monday, May 14, 2001.

The well drifted off to about 10 degrees and a down hole mud motor was fitted to the bottom hole assembly to bring it back towards a vertical hole. The deviation is now less than 2 degrees which is excellent in this area. Drilling has been slow in the soft sediments but this was expected. The well is expected to be in the first of the oil sands in the next few days.

The well is located in the Atchafalaya Swamp 8 miles southwest of the city of Baton Rouge in Louisiana. The well is being drilled to 12,500 feet on the Bayou Choctaw salt dome with the Frio sandstones as the primary objective.

The well is a development well located to intersect known oil producing horizons. It will be deepened to new untested zones after setting casing over these oil zones prior to drilling ahead into the high pressured section.

Icon Energy is the Operator of the well.

For more information, click here.

AUIRON ENERGY (15 MAY 2001)

The Phillipson coal needed to fuel the final operation phase of the Whyalla Demonstration Plant has been brought to the surface on time and on budget.
Ground was broken on AuIron's coal resource at Phillipson (at Ingomar near Cooper Pedy in central South Australia) on 12 March 2001.
The test pit, at completion, measures 200 x 200 metres. It is 32 metres deep.

COBRA RESOURCES (15 MAY 2001)

The securities of Cobra Resources will be placed in pre-open pending the release of an announcement by the Company.

CROESUS MINING (15 MAY 2001)

Croesus Mining's new Davyhurst gold mine was officially opened last Friday by the founder and Chairman of Croesus, Mr Ron Manners.

Mr Manners said that "Davyhurst had gone from an exploration prospect to a mine in under nine months and is forecast to produce over 100,000 ounces of gold per annum. Our Giles mine at Davyhurst is the first gold mine to be opened in Western Australia this Century and provides Croesus with a second gold operation in the Kalgoorlie district."

Croesus purchased the mothballed Davyhurst project, located 130km north west of Kalgoorlie, in June last year and quickly discovered the Giles gold deposit that provided the impetus for the rapid commencement of mining and processing operations. One hundred and forty employees and contractors reside on site at Davyhurst commuting on a roster basis out of Kalgoorlie.

The 1.2 million tonne per annum Davyhurst treatment plant has been running at design capacity since early May. Ore head grades are on budget at around 3 g/t per tonne with metallurgical recoveries of 94%. Grade control results from the Giles pit are confirming the ore reserve model.

Croesus has established an ore reserve base of over 200,000 ounces since acquiring the project, and an aggressive exploration program has excellent potential to add to these reserves.

ESSENTIAL PETROLEUM RESOURCES (15 MAY 2001)

Recently listed oil and gas explorer Essential Petroleum Resources Limited expects it will begin drilling its first exploration well - McNamara Park No 1 on 24 May 2001.

The exploration well is located 15 kilometres west of Mt Gambier in the South Australian section of the Otway Basin. Targeting a new gas prospect, McNamara Park No 1 could be brought on stream quickly to service the shortfall in energy markets in South Australia and Victoria.

The primary target zone is at a depth of 1892 metres, which Essential Petroleum and its partners expect to reach about a week after the spud or drilling commencement date.

GALLERY GOLD (15 MAY 2001)

Lion Selection Group Limited increased its relevant interest in Gallery Gold Limited on 10/05/2001, from 38,314,005 ordinary shares (49.2%) to 56,314,005 ordinary shares (50.8%).

GREENSTONE RESOURCES (15 MAY 2001)

The Company has successfully completed 2466 metres of reverse Circulation (RC) drilling in 43 holes at the Violet, Pioneer and Colreavy Prospects.

High grade intersections have been returned from the Violet Prospect
- best intercept of 2.5m at 35.83 g/t gold - and Pioneer Prospect -
best intercept of 3.0m at 32.97 g/t gold (both with a 3 g/t cut off).

The work confirms continuity of high grade mineralisation to depth at both prospects.

NORTHERN GOLD (15 MAY 2001)

Northern Gold advised that the off-market takeover offer from Pilatus Gold Corporation Pty Ltd has successfully closed. Pilatus has advised that it has become entitled to 59% of Northern Gold's fully paid shares. Pilatus advise that this figure may increase due to subsequent receipt of valid acceptances mailed prior to the close of the takeover but received subsequently.

SUN RESOURCES (15 MAY 2001)

Sun wishes to update shareholders on development operations on the Eagle Oil/Gas Development, San Joaquin Basin, California, USA.

The latest advice from the field is that the Nabors rig #473 is still continuing to rig-up and should commence well operations later in the week. The current programme of drilling and production testing will take 31 days.

TAWANA RESOURCES (15 MAY 2001)

VICTORIA PETROLEUM (15 MAY 2001)

Victoria Petroleum NL, as Operator for the Eagle Project Joint Venture, advises that the Nabors Rig #473 was moved onto the Eagle location on 8th May and is currently rigging-up.

The commencement of drilling of Eagle-1, via a sidetrack in the original 1986 well bore, is forecast to commence later this week.

The sidetrack will be commenced at 3490 metres and drilled to a measured depth of 4557 metres. A horizontal well bore of up to 300 metres in length between 4252 - 4557 metres is programmed. The drilling operation is expected to take 21 days.

HERALD RESOURCES (11 MAY 2001)

DAIRI ZINC/LEAD PROJECT	- HIGH GRADE RESULTS	Project Interests:
	- FUTURE DRILLING	IAX 80% PT Aneka Tambang 20%

Herald's 71% owned subsidiary, International Annax Ventures Inc. (IAX) reports as follows:

PAN AUSTRALIAN RESOURCES (11 MAY 2001)

AMADEUS PETROLEUM (11 MAY 2001)

AMITY OIL (11 MAY 2001)

AUSTRALIAN HERITAGE GROUP (11 MAY 2001)

DIAMOND ROSE (11 MAY 2001)

EMPIRE OIL & GAS (11 MAY 2001)

GINDALBIE GOLD (11 MAY 2001)

HERON RESOURCES (11 MAY 2001)

NAMAKWA DIAMOND COMPANY (11 MAY 2001)

NORTHERN GOLD (11 MAY 2001)

ORIGIN ENERGY (11 MAY 2001)

PELSART RESOURCES (11 MAY 2001)

AUSTRAL COAL (10 MAY 2001)

Austral Coal will move quickly to fast track expansion of its Tahmoor mine following finalisation of an independent bankable feasibility study by International Mining Consultants (IMC) confirming the mine's world class potential with a valuation of more than $163 million.

The seven-month IMC study reported that development of Austral Coal's Tahmoor North and Bargo resources would:

• Double production to a maximum of 3.2 million tonnes per annum.
• Provide saleable reserves of 42 million tonnes over 18 years - with extensive in situ reserves beyond that.
• Generate cash before interest and tax in excess of A$500 million.

BEACH PETROLEUM (10 MAY 2001)

The Naylor-1 exploration well in PEP 154, Otway Basin, Victoria, spudded at 1000 hours on May 9, 2001.
Naylor-1 will be drilled in PEP 154, 40 kilometres southeast of Warrnambool in an area neighbouring commercial producing gas fields around Port Campbell. The well is located approximately 3 km to the northeast of the recent Croft-1 gas discovery and will target the Cretaceous aged Waarre Sandstone at a depth of approximately 2,060 metres.
The well has a planned total depth of 2,191 metres.

BENDIGO MINING (10 MAY 2001)

Very encouraging exploration results prompted Bendigo to commission Australian Mining Consultants (AMC) and C L Smith and Associates Pty Ltd to undertake a Conceptual Study for the New Bendigo Gold Project.
They used the geological declarations in the Exploration Strategy document and made what are considered sensible and defensible engineering assumptions in developing the conceptual life of mine plan for New Bendigo.

The Conceptual Study indicates the New Bendigo as a long life, low cost, world-class gold producer with a mine life in excess of 25 years, with an optimum production rate of 400,000 - 500,000 ounces of gold per annum at a cash cost of between A$150-200 per ounce (US$75-100).

The authors of the study formed the view "that subject to ongoing exploration success, there is a strong probability that the New Bendigo mine will be developed along the lines generally portrayed in the Conceptual Study and it has the potential to become a major producer at a competitive cost per ounce".

MINERALS CORPORATION (10 MAY 2001)

Bulk shipments of kaolin product have commenced. These initial container lots are ex stock calcined product and will go to Asian customers.
The plant commissioning and various circuit upgrade projects continue at Skardon River for a scheduled commencement of regular production in August.
Recent industry literature predicts further 8-10% price increases later this year due to strong demand for kaolin.

OIL COMPANY OF AUSTRALIA (10 MAY 2001)

Lilyvale No.03, the last well of a three well coal seam methane exploration coring programme, is situated approximately 5 kilometres south-south-west of GSQ Emerald NS 44, latitude 23 deg. 20 min. 43.13 sec. south, longitude 148 deg. 18 min. 02.96 sec. east. The well was spudded at 16:50 hours on April 11, 2001. 168mm surface casing was set at 96.8 metres R.T. A total depth of 441.31 metres was reached at 16:00 hours, on April 26, 2001. Progress for the week was nil metres.
The well is currently capped and suspended, awaiting plug and abandonment.

Talinga No 1, a coal seam methane exploration core hole, is situated approximately 200 metres north of ML33, Latitude 26 deg, 53 min, 03.00 sec, south, longitude 150 deg, 24 min, 48.00 sec, east. The well was spudded at 09:00 hours on 27/04/2001. 168mm surface casing was set at 91.0 metres RT. The well reached a total depth of 486 metres and was plugged and abandoned. Progress for the week was 213 metres.

ORIGIN ENERGY (10 MAY 2001)

Origin Energy Resources Limited, as Operator for T/30P, provides the following progress report for the drilling of the Thylacine 1 well in the offshore Otway Basin, Tasmania.

Thylacine 1, which was spudded on 5 May 2001, is currently drilling ahead in 12(1/4)" hole. At 8am on 10 May it was at a depth of 1652 mRT. (All reported depths are referenced to the rig rotary table (RT), which is 25 metres above the lowest astronomical tide (LAT)).

PORTMAN (10 MAY 2001)

PORTMAN ANNOUNCES EXPANSION OF KOOLYANOBBING RESOURCE BASE AS TRIGGER FOR NORTHERN EXPANSION

• A 101% increase of Estimated Total Recoverable Resources to 95.3 million tonnes as a result of the recently completed exploration program is announced.
• Infill drilling to commence in June 2001 to further define and improve recoverable resources.
• Approval to commence planned exploration of Bungalbin received.
• Development of the Northern Tenements to proceed and Thiess Pty Ltd appointed as project managers for this work.
• Appointment of an additional senior executive to complement operational and development initiatives.

WEST OIL (10 MAY 2001)

West Oil announced that it has been granted a 12 month extension to its work obligations on its 50% owned AC/P26 permit in the Timor Sea.

West Oil and its 50% partner Indo-Pacific have been granted the extension to acquire 200 km of 2D seismic to better define the potential 270 million barrel Rossini Prospect. While most of the permit is covered by 3D seismic the Rossini Prospect in the east of the permit is only partially covered.

BEMAX RESOURCERS (9 MAY 2001)

Shareholders in BeMaX Resources NL (ASX: BMX) have given the green light for Sons of Gwalia Ltd to increase its interest in the mineral sands group to 19.9% as it gears up for the imminent release of a resource estimate for the exciting new Snapper discovery in the Murray Basin.

A series of resolutions were approved by BeMaX shareholders at an Extraordinary General Meeting in Brisbane today (Thursday). These included ratification of the original placements to Sons of Gwalia in January and March under a landmark agreement which saw the major resource group become a cornerstone investor in BeMaX.

Also, shareholders voted in favour of an offer of up to a further 6.5 million shares to BeMaX’s former joint venture partner Imperial One Limited to enable it to maintain its proportionate equity interest in the Company at the same level prior to the Sons of Gwalia placements. As a result, Imperial One is now BeMaX’s largest shareholder with a 24.36% interest.

For details - click here .

BALLARAT GOLDFIELDS (9 MAY 2001)

Chairman`s Address to Shareholders - click here for details.

AUSTRALIAN PIPELINE TRUST (9 MAY 2001)

The Australian Pipeline Trust announced a major new infrastructure proposal to connect the gas transmission pipeline systems supplying Northern Territory, Queensland, South Australia, New South Wales and Victoria.
The proposal would use existing infrastructure to the maximum extent possible, much of it owned or operated by the Trust, and would mean gas consumers across Eastern Australia would be able to access natural gas supplies from all the major gas basins east of the Western Australian border, including both the Timor Sea and the PNG Gas projects.

CENTRAL PACIFIC MINERALS (9 MAY 2001)

The Stuart Oil Shale Project made its first oil shipment today, exporting over 40,000 barrels or 5,800 tonnes of medium shale oil (MSO) to the South-East Asian fuel oil market.
This is an important milestone for the Stuart Project. It is the first oil shipment and first revenue from the project. Although this shipment is relatively small, it is a significant step in establishing markets for Stuart oil products, which include MSO and naphtha.

CONQUEST MINING (9 MAY 2001)

Conquest announced it is now free to commence exploration on its Lower Smoke Creek tenement, adjacent to the Argyle Diamond Mine, following successful negotiations with the Miriuwung Gajerrong Family Heritage Council and consequent granting of the Heritage Survey.
The initial exploration will include a drilling and sampling program to test for the lamproitic and diamond potential on a number of magnetic targets identified in a high-resolution aeromagnetic survey flown earlier in the year.

CUE ENERGY RESOURCES (9 MAY 2001)

The Oyong-1 well in the Sampang PSC offshore East Java, spudded on 5 May 2001. At 6am on 8 May 2001, the well was at 348 metres and the BOP was being run; 30" casing was set at 146 metres and 20" casing at 344 metres. Prior to spudding Oyong-1 an 8(1/2)" pilot hole was drilled to 350 metres.

EMPIRE OIL & GAS (9 MAY 2001)

Empire has agreed to place with clients of D&D Tolhurst Ltd 7,000,000 fully paid shares at an issue price of 8 cents per share together with an attaching free option with every two fully paid shares subscribed. The options are exercisable at 20 cents per option to a fully paid share and have an expiry date of the 31 December 2002.

EXCO RESOURCES (9 MAY 2001)

Mr David McSweeney has resigned as a Director of Exco Resources due to his commitments as the full time Managing Director of Gindalbie Gold NL.

PILBARA MINES (9 MAY 2001)

Pilbara announceD that Inmet Mining Corporation (Inmet), who are in joint venture with Pilbara at the Teutonic Bore copper, zinc, silver project in Western Australia, have notified Pilbara of their intention to commence diamond drilling of a number of 'EM conductors' outlined in the recent "Deep EM" survey at Teutonic Bore.
Drilling is proposed to commence during May 2001.

ROC OIL COMPANY (9 MAY 2001)

Roc Oil Company Limited (ASX:ROC) ("ROC") today announced that it, through its wholly owned subsidiary Roc Oil (Middle East) Pty Limited, has extended the expiry time of its offer to purchase 25,750,000 common shares of Gulfstream Resources Canada Limited (TSE:GUR) ("Gulfstream") for $1.10 per share to 6:00pm (Calgary time) on May 23, 2001, unless withdrawn or further extended. A notice of extension will be mailed to the Gulfstream shareholders shortly.

SUN RESOURCES (9 MAY 2001)

Sun wishes to update shareholders on development operations on the Eagle Oil/Gas Development, San Joaquin Basin, California, USA.

The latest advice from the field is that the Nabors rig #473 has moved onto the location on Tuesday 8th May, 2001 (USA W.S.T.) and following rig up, installing the BOPs and after picking up 15,000 feet of drill pipe should commence cutting a window in the casing at 11,400 feet by Saturday 12th May, 2001 to drill a directional well to the target reservoir. The current programme of drilling and production testing will take 31 days.

WESTERN AUSTRALIAN DIAMOND TRUST (9 MAY 2001)

Rio Tinto Limited (through its wholly owned subsidiary, Capricorn Diamonds Investments Pty Limited) intends to compulsorily acquire all of the outstanding units in Western Australian Diamond Trust (WADT) that it does not already own, as permitted by the Corporations Law.

Rio Tinto currently has a beneficial interest in 96.95% of the issued units of WADT, whose principal asset is a 5% interest in the Argyle Diamond Mines Joint Venture.