QUEENSLAND GAS COMPANY QUEENSLAND GAS COMPANY LIMITED QGC BELLEVUE #1R WELL COMPLETION REPORT ATP 610P – QUEENSLAND Queensland Gas Company Limited A.C.N. 089 642 553 Level 11 307 Queen Street Brisbane Queensland 4000 Date: May 2006 TABLE OF CONTENTS WELL DATA CARD 1.0 SUMMARY 1 2.0 WELL HISTORY 2 2.1 GENERAL DATA 2 2.1.1 WELL NAME & NUMBER 2 2.1.2 PETROLEUM TENEMENT 2 2.1.3 MAP SHEET 2 2.1.4 GRID LOCATION 2 2.1.5 ELEVATIONS 2 2.1.6 LANDHOLDER 2 2.1.7 NAME OF OPERATOR 2 2.1.8 OTHER PARTICIPANTS 2 2.1.9 NEAREST TOWN 2 2.1.10 NEAREST WELL 2 2.1.11 NEAREST SEISMIC LINE 2 2.1.12 NEAREST GAS PIPELINE 2 2.1.13 DATE DRILLING COMMENCED 2 2.1.14 DATE CORING STARTED 2 2.2.15 DRILLING TIME TO TD 2 2.1.16 TOTAL DEPTH 2 2.1.17 STATUS AT RIG RELEASE 2 2.2 RIG DATA 3 2.2.1 CORED HOLE 3 2.3 DRILLING DATA 3 2.3.1 DAILY DRILLING REPORTS 3 2.3.2 HOLE SIZES & DEPTHS 3 2.3.3 CASING & CEMENTING 4 2.3.4 DRILLING MEDIUM 4 2.3.5 PLUGGING AND CEMENTING 4 2.4 REASONS FOR DRILLING 4 2.5 LOGGING AND TESTING 4 2.5.1 WELLSITE GEOLOGIST 4 2.5.2 MUDLOGGING 5 2.5.3 CORED HOLE SAMPLING 5 2.5.4 GAS DESORPTION TESTING 5 2.5.5 GAS CONTENT & COAL QUALITY 5 2.5.6 DESORBED GAS ANALYSIS 5 2.5.7 GEOLOGICAL LOGGING & FACIES ANALYSIS 5 2.5.8 COMPOSITE CORE SAMPLES 6 2.5.9 METHANE ADSORPTION ISOTHERM ANALYSIS 6 2.5.10 COAL PETROGRAPHIC ANALYSIS 6 2.5.11 VITRINITE REFLECTANCE 6 2.5.12 WIRELINE LOGS 6 2.5.13 TEMPERATURE SURVEYS 7 2.5.14 DRILL STEM TESTING 7 3.0 GEOLOGY 8 3.1 SURAT BASIN SETTING 8 3.2 STRATIGRAPHY 9 3.3 GAS SHOWS 9 4.0 REFERENCES 10 TABLE OF ATTACHMENTS LIST OF TABLES Table 1 Hole Sizes and Depths Table 2 Cored Hole Samples Table 3 Wireline Logs Table 4 Drill Stem Tests Table 5 Stratigraphy LIST OF FIGURES Figure 1 Well Summary Diagram. Figure 2 Location Map – QGC Bellevue #1R Figure 3 Stratigraphy – Surat Basin Figure 4 Stratigraphy – Walloon Subgroup LIST OF APPENDICES Appendix I Methane Adsorption Isotherms and Coal Petrographic Analyses Appendix II Drill Stem Test Reports Appendix III Earth Data Data Report for Gas Desorption Testing of Cores from Bellevue #1R well LIST OF ENCLOSURES Enclosure 1 Wireline Log Data (LAS Format) Enclosure 2 Wireline Log Prints Enclosure 3 Photo Library WELL DATA CARD QGC BELLEVUE #1R PAGE 1 of 3 ATP 610P WELL DETAILS Latitude 26° 43’ 52.50983” S Mitchell Drilling Contractors Location: Drilling Contractor: (MDC) Longitude 150° 17’ 08.73530” E Easting 230 008.394 GDA-94 Grid: Rig No. & Type: MDC Rig 120 Zone 56 Northing 7 040 452.464 GL 303.79m ASL Date Well Re-entered: 11:00hrs 15/11/2004 Elevation: KB All measurements from GL Date Coring Started: 20:28hrs 15/11/2004 Nearest N/A Date TD Reached: 21:15hrs 22/11/2004 Seismic Line: Nearest Wells: QGC Bellevue 2 (950m west) Date Rig Released: - 25/11/2004 Map: Miles 1:100000 (Sheet 8944) Total Depth: Driller 560.20 Type Structure: Coal Seam Gas Core Well (m GL) Logger 559.30 Status of Well Suspended Date Logged: 22/11/2004 at Rig Release: New Hole Size: From (m) To (m) Diameter Plugs: From (m) To (m) Interval 240.2 560.2 96mm - - - CASING & CEMENTING INTERVAL OD Shoe (m GL) Wt Grade Cpl Comments 6⅝’’ 60.5 19lbs/ft B S.T & C. Cemented to surface by MDC Surface Cemented across approximately 30m at base of 4½“ 146.0 50.5 kg/3m HW HW Second String string by MDC CORED INTERVALS New Cored Interval (m GL) Formation Cut (m) Recovered (m) (driller’s depths) 240.2 – 542.2 Walloon Subgroup 302.0 302.0 DRILLSTEM TEST INTERVALS DST INTERVAL UNIT/SEAM COMMENT No. (m GL) L Juandah Coal Measures/ Significant gas flow – inconclusive permeability 1 295.2 – 560.2 Taroom Coal Measures indicators 2 460.2 – 560.2 Bulwer/Condamine Inconclusive permeability indicators WELL DATA CARD QGC BELLEVUE #1R PAGE 2 of 3 ATP 610P STRATIGRAPHIC UNITS DRILLED Top Depth Elevation Thickness Net Coal AGE UNIT m GL m m m Previously Drilled Soil and Poorly Consolidated Sandy Post Mesozoic 303.79 49.56 - Alluvium surface Late Jurassic Westbourne Formation 49.56 254.23 20.44 - Late Jurassic Springbok Sandstone 70.00 233.79 115.52 1.20 Walloon Subgroup Middle Jurassic 118.27 54.48+ 8.79+ Juandah Coal Measures 185.52 Newly Drilled Walloon Subgroup Middle Jurassic 118.27 183.25 16.92 Juandah Coal Measures 185.52 Walloon Subgroup Middle Jurassic -68.98 48.78 3.47 Tangalooma Sandstone 368.77 Walloon Subgroup Middle Jurassic -113.76 75.40 9.65 Taroom Coal Measures 436.40 Walloon Subgroup Middle Jurassic -189.16 48.40+ - Durabilla Formation 511.80 Total Depth (TD) 560.20 -237.56 COAL SEAM INTERVALS PENETRATED Gross Interval Net Coal Formation Seam or Interval Name From To Thickness (m) (m GL) (m GL) (m) Previously Drilled Kogan Seam - - - - Macalister Seam 185.96 239.95 53.99 8.79 Newly Drilled Juandah Coal Measures Nangram Seam 242.61 243.20 0.59 0.59 Wambo Seam 251.90 268.74 16.84 1.27 Iona Seam 306.96 311.43 4.47 0.96 Argyle Seam 321.85 346.29 24.44 5.31 Tangalooma Sandstone 368.77 417.55 48.78 3.47 Auburn 451.80 452.38 0.58 0.58 Taroom Coal Measures Bulwer 465.99 471.82 5.83 4.00 Condamine 489.42 508.59 19.17 5.07 WELL DATA CARD QGC BELLEVUE #1R PAGE 3 of 3 ATP 610P WIRELINE LOGS Max Recorded Run Log Interval (m GL) Temperature (°C) Previous Wireline Logs 1 Gamma/Density/Neutron/Caliper 240.0 – 0.0 29.0 2 Sonic 239.9 – 140.0 29.0 Recent Wireline Logs 1 Density/Gamma/Caliper 560.2 – 0.0 2 Resistivity 560.2 – 240.2 3 Acoustic Scanner 404.0 – 180.0 4 Neutron 560.2 – 240.2 QGC Bellevue 1/1R 113.41 - 116.41m (3.00m) 153.46 - 153.50m (0.04m) Caliper Gamma Density Resistivity 155.87 - 155.90m (0.03m) 0 mm 150 0 GAPI 150 1 g/cc 3 0.1 OHMM 1000 158.50 - 158.54m (0.04m) 0m 159.70 - 159.75m (0.05m) 164.20 - 164.45m (0.25m) n o i 164.49 - 164.53m (0.04m) t 164.53 - 164.63m (0.10m) a 164.69 - 164.80m (0.11m) m r 164.82 - 164.83m (0.01m) o F 164.99 - 165.03m (0.04m) 165.05 - 165.36m (0.32m) e n 165.47 - 165.54m (0.07m) r 165.55 - 165.66m (0.12m) u 50m o 185.96 - 185.98m (0.02m) b 186.03 - 186.10m (0.07m) t 6 5/8” @ 60.5m 186.39 - 186.47m (0.08m) s 186.88 - 186.89m (0.01m) e 186.96 - 187.01m (0.05m) W 187.25 - 187.29m (0.04m) 187.32 - 187.46m (0.15m) 70.0m 187.49 - 187.87m (0.38m) 187.90 - 187.95m (0.05m) e 188.40 - 189.16m (0.76m) n o 188.40 - 189.16m (0.76m) t 189.23 - 189.25m (0.02m) s 189.31 - 189.48m (0.17m) d 189.48 - 189.54m (0.06m) n 100m 189.56 - 189.57m (0.02m) a 189.59 - 189.72m (0.13m) S 189.74 - 189.92m (0.18m) 189.74 - 189.92m (0.18m) k 189.94 - 190.04m (0.10m) 5.20m o 190.11 - 190.37m (0.27m) b 190.46 - 190.70m (0.24m) g n 190.71 - 190.80m (0.10m) i 190.82 - 190.90m (0.08m) r 190.92 - 190.99m (0.08m) p 191.01 - 191.43m (0.43m) S 191.44 - 191.70m (0.26m) 191.71 - 191.71m (0.01m) 141.0m 141.0m HW @ 146.0m 191.80 - 192.12m (0.32m) 192.17 - 192.20m (0.35m) 150m 192.23 - 192.30m (0.07m) 192.31 - 192.38m (0.07m) 192.39 - 192.40m (0.01m) 192.42 - 192.58m (0.17m) 415 Sample # 192.64 - 192.84m (0.20m) 363 -364 192.85 - 193.19m (0.35m) 193.21 - 193.30m (0.09m) 193.31 - 193.39m (0.08m) 194.83 - 194.95m (0.12m) 228.60 - 228.65m (0.05m) Sample # 230.88 - 231.00m (0.12m) 416 365 - 372 231.55 - 231.64m (0.09m) 231.67 - 232.23m (0.56m) 232.24 - 232.38m (0.14m) 200m 232.41 - 232.44m (0.03m) 232.46 - 232.60m (0.14m) 233.35 - 233.65m (0.30m) 235.78 - 236.01m (0.23m) 3.59m Macalister 236.04 - 236.23m (0.19m) 236.46 - 236.69m (0.23m) s 236.75 - 236.90m (0.15m) e 237.07 - 237.12m (0.05m) r 237.78 - 238.33m (0.55m) u Previous 238.36 - 238.47m (0.11m) s 417 Sample # 239.17 - 239.20m (0.03m) a TD 240.00m 373 - 378 239.33 - 239.95m (0.62m) e 242.61 - 243.20m (0.59m) M Nangram l 250m a o 251.90 - 252.30m (0.40m) C 253.15 - 253.57m (0.42m) 1.27m Wambo 268.29 - 268.74m (0.45m) h a d n a u J 300m 306.96 - 307.61m (0.65m) Iona 211.12 - 311.43m (0.31m) 0.96m 321.85 - 322.54m (0.69m) s 323.32 - 323.83m (0.51m) e 324.48 - 325.11m (0.63m) r 331.90 - 332.10m (0.20m) u 334.25 - 334.70m (0.45m) s Argyle 336.21 - 337.08m (0.87m) 5.31m a 338.30 - 338.98m (0.68m) e 339.37 - 339.76m (0.39m) M 343.32 - 343.84m (0.52m) 345.92 - 346.29m (0.37m) l 350m a o C 359.7m n 368.77 - 369.38m (0.61m) o o l l a 369.38 - 370.23m (0.85m) W a e m n o 401.90 - 402.52m (0.62m) o t o l s a 400m d g 403.86 - 404.24m (0.38m) n n a a S 416.54 - 417.55m (1.01m) T 436.4m 450m 451.80 - 452.38m (0.58m) Auburn l a s 465.99 - 466.91m (0.92m) o 466.91 - 467.90m (0.99m) e r C 467.90 - 468.66m (0.76m) 4.00m Bulwer 470.49 - 471.20m (0.71m) u s 471.20 - 471.82m (0.62m) m a o e o r M a 489.42 - 490.23m (0.81m) T 490.23 - 491.26m (1.03m) 502.50 - 503.47m (0.97m) 500m Condamine 503.47 - 503.84m (0.37m) 5.07m 504.10 - 505.01m (0.91m) 507.61 - 508.59m (0.98m) 511.8m l a l l a i v b r a e r t u n I 550m D TD = 560.2m Net Coal Thickness JCM = 17.02m QUEENSLAND GAS COMPANY Net Coal Thickness TCM = 9.65m QGC P:\Projects\ATP 610P\Technical ATP 610P\Bellevue #1R (corehole)\Well Geological\Bellevue 1R Well Summary.cdr 1.0 SUMMARY QGC Bellevue #1R is a coal seam core well operated by Queensland Gas Company Limited (QGC).