Don Juan CSG Project

(Bow 55% (through its wholly owned subsidiary Roma CBM Pty Ltd))

The Don Juan CSG Project includes ATP 771P and ATP 593P and is located in the western Surat Basin, about 40 km north of Roma, adjacent to and west of BG Group’s Lacerta CSG field. The Project is a joint venture between Bow, as Operator with a 55% interest (Walloon Coal Measures only in ATP 771P, including the Juandah and Taroom coal seams), and Victoria Petroleum having a 45% interest. 101PJ of 2P and 197PJ of 3P gross certified reserves to date are within ATP 771P.

Bow has interpreted the Don Juan CSG fairway to extend further west into ATP 593P, where the Walloon Coal Measures are expected to be at reasonable depths. Bow is now planning a two-well exploration drilling and testing program within ATP 593P later in 2010, with the aim of certifying additional 3P and 2P reserves.

Discussions are underway on monetisation of the Don Juan CSG Field, with potential connection into the nearby Queensland Gas Pipeline approximately 15 km east of the field..