Company Information for DVM International Ltd

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ASX; DVM

Company Statement

DVM International Limited is an oil and gas exploration company listed on the Australian stock exchange (ASX). Having recently switched direction from an IT company, DVM has a new board experienced in oil and gas exploration and running public companies.

Operations and Technology

ATP 587
DVM International 100%
DVM has acquired the right to 100% working interest in of ATP 587 in anticipation of its formal grant, following a process of Native Title clearance and Environmental approval over the past two years. The permit acquisition was made from the previous joint venture partners who retain a small overriding royalty interest of 2.5%.

ATP 587 consists of twelve blocks to the west of the Thomson River, between Stonehenge and Jundah, southeast of Longreach, encompassing an area of approximately 946 sq km. The tenement is within the Eromanga Basin. The southeast of the tenement is underlain by the northeastern edge of the Cooper Basin which in turn overlies the Barcoo Trough of the Devonian Adavale Basin. The tenement is covered by regional seismic with local grids over all prospects.

Oil shows have been encountered in the Eromanga Basin section in several wells in the area and the Irriculla 1 well, drilled in 1997, is interpreted to have penetrated a reverse fault above a basal Jurassic sand which exhibited oil shows on the downthrown side. DVM believes there is a strong possibility of an oil accumulation in this sand on the upthrown side of the fault.

A second target to the south of Irriculla is the Cattle Creek Structure, with Eromanga sediments draping a faulted basement domal anticline.

The Carella Creek 1 well intersected a good oil show in a Birkhead sand and a subsequent well (Carella Creek North 1) showed that the structure was tilted down to the north with respect to seismic isochrons. A mapped high to the south (Carella Creek South) is therefore updip of the oil show in Carella Creek 1, and a matured drilling target.

With good well control on reservoir parameters, potential reserves for the above Eromanga targets range at the median level from 2 to 12 mmbbl of oil in place, with an upside at Irriculla of 35 mmbbl.

In the southeast of the tenement the large Braidwood Anticline in the Devonian is an undrilled prospect with 60 sq km of mapped closure (60% in ATP 587) and the potential for a gas accumulation exceeding 500 Bcf in the Lissoy Sandstone and Log Creek Formation.

Geographical Spread

Queensland, Australia

Board of Directors and Key Management

Mr Ivan Burgess (Managing Director and CEO)

Mr Burgess is a geologist with 30 years’ professional experience. He obtained his BSc (Hons) from the University of Western Australia. Much of his career has been associated with the oil and gas industry. He has extensive successful experience in running both ASX and AIM (London) listed companies, where he has held various positions as Managing Director and Chief Executive Officer. He has a proven record of identifying quality projects. A number of these have led to commercial discoveries.

Previously, Mr Burgess was the inaugural CEO of Norwest Energy NL, a company listed on ASX, and was directly responsible for that company being involved in the Puffin, Cliff Head and Jingamira Oil Fields. Following his resignation from Norwest, he spent a number of years running Black Rock, a company he took on as a shell. He was responsible for building that company's asset base and market profile and was responsible for acquiring Black Rock's interest in its North Sea gas field and Colombian oil fields. Later he introduced the Bolivar Oil Field to Infinity Oil Limited, a company intending to undertake an IPO. He has also advised a number of companies seeking to list and those seeking acquisitions.

Mr Chris Rowe (Chairman)

Mr Rowe is widely known as the former executive chairman of the successful oil explorer Cultus Petroleum Limited. He ran Cultus for 11 years, during which time the company made commercial discoveries in Australia, New Zealand, Canada and the USA. Cultus participated in the first commercial onshore gas discovery in Victoria’s Otway Basin, and assisted in the assessment of the Petrel gas prospect in the Northern Territory and the Yolla field in the Bass Basin. It also made the first commercial offshore oil discovery in New Zealand.

Mr Rowe has since been involved in international projects including operations in Texas and New Mexico, the Fort Hills tar sands project in Alberta and projects in Iran. Locally he has served as a Director of the ASX listed Aerodata Holdings Limited, Southern Ventures NL and Northern Star Resources Limited. He is currently chairman of private equity fund manager Hawkesbridge Private Equity Pty Limited.

Mr Leith Wale (Non-executive Director)

Mr Wale has extensive international and Australian experience in the oil and gas exploration industry, including as chairman of the ASX-listed Bounty Oil and Gas Limited. He is the business development manager of the stockbroking firm PhilipCapital Australia, and the Victorian representative of the Australia Brazil Chamber of Commerce. He is a former general manager resident in Colombia of the German-backed oil company Nopec, and manager with oil pipeline installation responsibilities for Messer Griesheim Central America.

Mr Howard Dawson (Non-executive Director)

Mr Dawson worked as a geologist with BHP Minerals before joining Perth stockbroker Hartley Poynton. He subsequently worked in senior management roles and as equity partner at both Carmichaels and McIntosh Securities before becoming Western Australian managing director of ABN Amro Morgans. He is currently a director of the ASX-listed Latin Gold Limited.

Company Address

103 Abernethy Road
Belmont, Western Australia, Australia 6104


Telephone:	+61 8 9478 5399
Facsimile:	+61 8 9277 6818
Website:	http://www.dvminternational.com.au

Capital

[ ]

Year End

31 December

Major Shareholders

ANZ NOMINEES LIMITED	9.87%
CITICORP NOMINEES PTY LIMITED	4.50
ARMELEK PTY LTD	4.16%
CANEMOON INVESTMENTS PTY LTD	4.16%
SINBAD PTY LTD	3.88%
MR JOSEPH CHARLES CAMUGLIA	3.28%
GEORGE SIM	3.02%

Most Recent Statement

30/10/09 - Quarterly Cashflow Report
30/10/09 - Quarterly Activities Report
25/06/09 - June Half Year Report
12/06/09 - Change of Company Secretary
29/05/09 - Presentation Paper for APPEA Conference

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