AED Oil Limited Quarter ending 30 September 2010
Operations
Brunei- Block L
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Second well drilled with significant targets (Lempuyang-1)
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Testing phase expected to commence this year
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Feasibility for southern field development commenced
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Numerous gas and oil shows along with gas kicks, even in the shallow sections, of both exploration wells suggests gas, light oil or condensate
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Aerial gravity and magnetic survey completed
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Election of Phase 2 exploration program
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Jerudong re-development potential identified
Indonesia
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Rombebai planning and development continues
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South Madura’s Gigir East-1 commitment well was drilled and logging completed
Australia
Cartier 3D seismic survey acquisition over
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AC/P22 completed and processing is continuing
Interpretation of re-processed AC/L6
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seismic nearing completion
Field development studies have commenced
Corporate
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Reset to exercise price for US$21,217,500 9.0%convertible notes due July 2012 to A$0.61 cents
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