WestSide Corporation Limited (ASX:WCL) Results Provide Confidence for Expansion Of Bowen Basin Coal Seam Gas Exploration Program

Brisbane, Aug 13, 2009 AEST (ABN Newswire) - WestSide Corporation Limited (ASX:WCL) today announced the expansion of its 2009 coal seam gas (CSG) exploration program, with up to 16 new holes now planned to be drilled in the Company's two Bowen Basin tenements. The program also has the option for five more wells in early 2010.

The initial gas reserves certification achieved from ATP 688P and ATP 769P were in-line with, or exceeded expectation and together with recently retrieved gas content data validate an expanded program in these areas.

The program aims to build on WestSide's initial gas reserves, targeting:

? commercial flow rates from horizontal drilling at the Tilbrook pilot to support certification of 2P reserves;

? 2P reserves to underpin Petroleum Lease applications at Tilbrook and Paranui, with the ultimate goal of gas sales;

? accelerated appraisal of the Mount Saint Martin area, with up to six exploratory wells now planned following promising gas content data from the recent core well;

? additional gas resources in the deeper coals below 1,000m to the west of the Paranui pilot;

? commercial flow rates from new and re-worked wells at the Paranui pilot; and

? seismic acquisition to confirm geological structure.

WestSide Chairman Angus Karoll said the extent of the 2009 program reflected the level of confidence the Company has in its areas.

"Our recent certification of 3P reserves in these areas has confirmed our assessment of the prospectivity of these assets," Mr Karoll said.

"Converting our certified 3P reserves into 2P reserves at Paranui and Tilbrook will support Petroleum Lease applications which will form the basis for commercialising these gas assets."

"Further, this program has the potential to increase our gas reserves at Tilbrook, Mount Saint Martin and in the deeper Paranui coals."

"This is in-line with WestSide's broader strategy of commercialising known gas assets, identifying and proving up new reserves and seeking new CSG opportunities."

WestSide's share of the commitments in each case will be funded from its existing cash reserves.

WestSide and QGC each hold a 50% interest in ATP 688P and ATP 769P and will jointly fund the exploration and appraisal programs.

ATP 688P

(WestSide interest 50%)

Tilbrook

Up to two sets of dual-lateral wells will be drilled at the Tilbrook pilot, targeting commercial gas flow rates to underpin certification of 2P gas reserves at the pilot. Each lateral set will consist of two exploratory 'chip' holes, two horizontal wells and a vertical production well.

Seismic data will be acquired over 5 km and analysed to confirm the coal structure for horizontal drilling.

Mount Saint Martin

In response to the promising gas content data retrieved from the Mount Saint Martin #1 core well, WestSide now plans to drill six new wells in the region to further define the gas resource.

Four exploratory 'chip" holes will be drilled to confirm the lateral extension of the target coal seams, while a further two core wells will appraise the gas contents over the wider area to grow the 3P reserves position.

The Mount Saint Martin #1 core well will be converted to a production well for flow-testing.

Seismic data will be acquired over 7 km and analysed to confirm the geological structure for potential future horizontal drilling.

WestSide is planning a radial drilling trial from one of the proposed wells to assess whether that technique could deliver commercial gas flows in comparison to conventional vertical or horizontal completions.

ATP 769P

(WestSide interest 50%)

Paranui

WestSide will now drill a new core well to the west of the Paranui pilot to assess the gas resource at depths greater than the 1,000m depth currently addressed by the pilot. The ability to access gas from coals deeper than 1,000m could add significantly to WestSide's current 3P gas reserves.

Up to four new wells will be drilled to expand the existing pilot, while two existing pilot wells will be stimulated or cavitated to increase production rates.

The new wells and a 13km seismic analysis will confirm the geological structure and aim to convert some of the existing 3P gas reserves into 2P reserves to support an application for a Petroleum Lease in 2010.

Contact

WestSide Corporation Ltd Angus Karoll Chairman and CEO TEL: +61-7-3020-0900