25 February 2008

Netherland, Sewell & Associates Inc, (NSAI) Dallas-based petroleum consultants, have delivered their independent certification of coal seam gas reserves in the Gloucester Basin (70% owned by Lucas through Lucas Energy Pty Ltd).

Their initial estimates are:

Reserve type	Volume - billion standard cubic feet (BSCF)
1P (proved)	14.9
2P (proved & probable)	170.2
3P (proved, probable & possible	359.2
Contingent resources	166.2

The current exploration data, on which NSAI has based its assessment, covers only part of the basin. As the exploration programme is expanded, this should lead to additional areas being included for future certification exercises.