A two year extension to the PSC drilling period has been granted.

A dataroom is available to appoint a new technical operator.

Crown Energy Ventures holds 100% equity in the PSC.

The licence now held by Amicoh Resources is represented by Simco.

Bharat PetroResources has executed a LoI with Norwest Energy to farm-in into TP/15 to earn a 50% interest by providing A$4.5M of the estimated costs of A$7.5M of the drilling costs for Red Hill South (including testing and completion, and geological and geophysical studies).

As permit expiry date is 26 Oct 2010 Norwest has applied to DMP to suspend the permit work obligations & extend permit period until 26 Aug 2011 to allow sufficient time to source a rig & drill the Red Hill south well.

Norwest has been advised that proposed farminee for TP15 & EP413 is finalizing its internal approval processes & it is expected that transaction will be formalised in coming weeks, should those processes approve transaction.

Oranto Petroleum, as administrative Operator of OPL 320, is seeking a technical partner to continue exploration and appraisal of deepwater block OPL 320. A 3D survey was acquired in 2005 and a discovery well was drilled two years later.

New attachments have been added to the Opportunity Data Sheet, including an updated Technical Review released by Mocoh in Sep 2009

Norwest has been discussing the farm out opportunity with several interested parties.

Simco is mandated to seek farm in partners to join Oranto Petroleum in a PSC.

Mocoh Resources seeks a partner that would finance 50% of the the exploration phase in progress (around $7M in total) for up to 25% working interest in the JV