Burleson Energy Limited (ASX:BUR) Drilling Update on D.Truchard #1 Well

Sydney, Dec 1, 2010 AEST (ABN Newswire) - Burleson Energy Limited (ASX:BUR) advises that the D.Truchard #1 well is currently drilling ahead at 5,732 feet (1,747m). The D.Truchard #1 well is the first appraisal well on the broader Heintschel structure and is located some 2.9km from Heintschel #1, which is currently on gas and condensate production.

The D.Truchard #1 well is targeting Lower Wilcox reservoir sands and is expected to be drilled to a total depth of approximately 11,800 feet (3,850m). If successful it will be a step towards firming up mid case recoverable resources of 59 billion cubic feet of gas and 1 million barrels condensate, as calculated by operator AKG and previously released to the market. It is anticipated that the D.Truchard #1 well will take approximately 28 days to drill and complete.

The well 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.

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 assuming a successful discovery is made. BUR is paying 38% of these costs.

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%

Contact

Mike Sandy Managing Director Tel: +61-2-9450-2002 Fax: +61-2-9986-1753 Email: info@burlesonenergyltd.com http://www.burlesonenergyltd.com