Real Energy Corporation Limited advises that completion and testing operations are progressing well on its two maiden Cooper Basin wells, Tamarama-1 and Queenscliff-1.

Real Energy provides the following information regarding its completion and testing program in ATP927P:

Tamarama-1: The well was completed and perforated over the Toolachee Formation section. •The Toolachee Formation interval from 2397.0m to 2422.0m (15.5m net perforated intervals) was perforated and flow tested. •On the clean-up flow the well flowed gas at an unstimulated initial rate of approximately 0.46 mmscfd through a 16/64' choke, with flowing pressure of 327 psi. •The well is currently shut-in for a pressure build-up test in order to obtain reservoir pressure data and other relevant reservoir properties. •Gas samples were obtained from this section for laboratory analysis. Field analysis of the gas sample indicates the gas contains approximately 7% CO2

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