Blue Energy Provides Update on ATP813P (Australia)

Blue Energy Limited provided the following update on ATP813P in the Galilee Basin.

Following final compilation and submission of the dataset developed from the 2010 drilling campaign in the Galilee Basin to Netherland, Sewell and Associates (NSAI), the independent Dallas based resource assessment specialist has assessed that the wells drilled to date by Blue Energy in ATP813P have delineated 554PJ of 3C Contingent Resource (recoverable) together with a further 1,142PJ of Prospective Resource (recoverable).

The Contingent Resources have been identified principally around the existing 5 wells drilled by Blue Energy, whilst the Prospective Resource relates to some of the inter-well areas, but does not include the majority of the permit area. This resource assessment relates to approximately 25% of the ATP813P permit area. The potential of the remaining 75% of the permit will be addressed with future drilling.

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Source: Blue Energy, June 29, 2011;

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