WestSide Corporation Limited (ASX:WCL) Launches Galilee Basin Grassroots Exploration Program

Sydney, Sep 23, 2011 AEST (ABN Newswire) - WestSide Corporation Limited (ASX:WCL) is pleased to advise that the Company's Galilee Basin exploration program has commenced with the spudding of the Glenlyon 1 exploration well within ATP 974P in north western Queensland.

Glenlyon 1, sited about 70km south of Richmond, spudded at 15:30 hours on 22 September 2011 and is now drilling ahead.

The target horizons in Glenlyon 1, which are expected to occur from about 1,000 metres below surface, will be cored for testing to determine the gas content and composition of the coal seams intersected.

WestSide has a 51 per cent operating interest in ATP 974P and ATP 978P in joint venture with Mitusi E&P Australia Pty Ltd which has a 49 per cent interest in both tenements.

WestSide Chief Executive Officer Dr Julie Beeby said Glenlyon 1 was the first in an exploration program of up to four wells to investigate the hydrocarbon potential of the Permian-age Betts Creek and Aramac Coal Measures present throughout the basin.

"These tenements in the north-western part of the Galilee Basin cover a combined area of more than 14,000 km2 which WestSide believes could contain up to 21 trillion cubic feet of gas in place, so we are quite excited now that drilling is underway," Dr Beeby said.

On completion of drilling at Glenlyon 1 Dominion Drilling's DR03 rig and the camp will be relocated to the next well site. The other planned wells in the initial program are Essex Downs 1, also in ATP 974P, and Dunluce 1 and Malakoff 1 in the adjoining tenement ATP 978P. (See map: http://media.abnnewswire.net/media/en/docs/69719-ASX-WCL-235418.pdf)

Dr Beeby said the program was expected to be completed by the end of the 2011 calendar year, subject to weather and geology, at an estimated total cost to the joint venture of $4 million. The data will then be collated and analysed to determine well locations for the next phase of drilling.

WestSide will issue regular updates as and when appropriate as the exploration program progresses.

Contact

Julie Beeby Chief Executive Officer WestSide Corporation Limited Tel: +61-7-3020-0900 Richard Owen Investor & Community Relations Manager WestSide Corporation Limited Tel: +61-7-3020-0900 Mob: +61-412-869-937 Email: richard.owen@westsidecorporation.com