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WA-399-P - Independent Broker Valuation

In April 2008, Hartleys published a current market calculation for the entire portfolio of assets for Carnarvon Petroleum Ltd. Part of that evaluation lists the current valuation ascribed to WA-399-P exploration potential (Pg 6). Rialto Energy Ltd and Carnarvon Petroleum Ltd share the acreage with 50%:50% Working Interest.

The link address is: http://www.carnarvonpetroleum.com/docs/Hartleys290408.pdf