Finder Energy Holdings Limited Provides Update on the Kanga-1 Well Located in the Wa-412-P Exploration Permit in the Dampier Sub-Basin

Finder Energy Holdings Limited provided updates on the Kanga-1 well located in the WA-412-P exploration permit in the Dampier Sub-basin. SapuraOMV, as Operator of WA-412-P, is managing the well operations on behalf of the joint venture. Finder holds a 15% interest in Kanga-1 and WA-412-P and had a capped well contribution of US$0.94 million.

Since the last report, the Diamond Offshore Ocean Apex semi-submersible drilling rig has set the 9 5/8" casing and drilled the 8 1/2" hole to a total depth of 3,400 mRT1 and no commercial hydrocarbons were intersected. The well will now be plugged and abandoned as planned.