Burleson Energy Limited (ASX:BUR) First Heintschel Appraisal Well D.Truchard #1 Spudded

Sydney, Nov 24, 2010 AEST (ABN Newswire) - Burleson Energy Limited (ASX:BUR) is pleased to advise that the D.Truchard #1 well, the first appraisal well on the broader Heintschel structure, has been spudded using the Big 6 drilling rig.

The D.Truchard #1 well is located some 2.9 km from the Heintschel #1 well location which lies within the main Colorado County Project 3D seismic area. The well will target Lower Wilcox reservoir sands and is expected to be drilled to a total depth of approximately 11,800 feet (3,850m). It is anticipated that the D.Truchard #1 well will take approximately 28 days to drill and complete.

The D.Truchard prospect is targeting a separate 300 acre closure within the broader 4,460 acre Heintschel structure and will test the subsurface correlation of Wilcox sands encountered in the Heintschel #1 well and mapped across the Heintschel closure based on 3D seismic data.

Earlier in 2010, US based operator AKG undertook an evaluation of the Heintschel field and estimated the potential gas and condensate volumes as follows (see earlier ASX releases for details):

---------------------------------------------Category    Gas   Condensate  Number of wells           (Bcf)    (mmb)       to develop---------------------------------------------Low case   25.6     0.465          4-8---------------------------------------------Mid case   58.9     1.07           6-16---------------------------------------------High Case  87.7     1.6           12-24---------------------------------------------

A successful D. Truchard #1 well would be a significant step towards confirming the Mid Case volumes and potentially contribute towards those in the High Case scenario outlined above. However it should be noted that several further wells, together with production history for a number of producing wells, will be required to confirm the actual volumes of gas and condensate in the greater Heintschel structure. Similar to the recently drilled Heintschel #1 well, the reservoir is likely to require fracture stimulation (fraccing) before flowing at optimal rates.

The D.Truchard #1 well is estimated to cost US$1.1m on a dry hole basis and another US$1.5m to complete for production if a successful discovery is made.

Further drilling updates will be provided on a weekly basis or more regularly in the event that material information arises that requires disclosure.

Heintschel Field Interests:

- Burleson Energy 38.0%
- New Standard Energy (ASX:NSE) 32.5%
- AKG and Associates (AKG) 29.5%

For the complete Burleson announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/64255-ASX-BUR-516788.pdf

Contact

Burleson Energy Limited Tel: +61-2-9450-2002 Fax: +61-2-9986-1753 Email: info@burlesonenergyltd.com http://www.burlesonenergyltd.com