Drillsearch Energy Limited 01

The Panel, Guy Alexander, John Fast and Chris Photakis (sitting President), declined to conduct proceedings on an application by Beach in relation to the affairs of Drillsearch. The Panel considered there was no reasonable prospect it would declare unacceptable circumstances, given that Drillsearch had made a clarifying announcement to ASX on 3 June 2009 (after the application was made) and subsequently agreed to dispatch a copy of the announcement.

Drillsearch Energy Limited 02

The Panel, Guy Alexander, John Fast and Chris Photakis (sitting President) declined to conduct proceedings on an application by Beach in relation to the affairs of Drillsearch. The Panel considered that there was no reasonable prospect that it would declare unacceptable circumstances in relation to an announcement made by Drillsearch to ASX on 1 June 2009.

3D Oil Limited – Panel Application Withdrawn

The Panel has consented to a request by Veritas Securities Limited to withdraw its application to the Panel dated 25 May 2009, in relation to the affairs of 3D Oil Limited. The application concerned the alleged failure of Drillsearch Energy Limited to send copies of the bidder's statement and acceptance form in relation to its takeover bid for 3D Oil to the holders of formerly escrowed shares in 3D Oil (see TP09/037).

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