Drillsearch Energy Limited is an Australia-based company that is principally engaged in oil and gas exploration, development and production. The Marina-1 well spudded on September 19, 2007, located in the Bonaparte Basin of Western Australia. During the fiscal year ended June 30, 2008, 27 wells were drilled in Tintaburra and Naccowlah as part of the continuing Cooper Oil Project. Of these 22 wells are in production or were cased and suspended as future oil producers. The Company?s wholly owned subsidiaries include Drillsearch Energy (Canada) Inc., Circumpacific Energy Corporation, Jun Yick International Limited, TransOceanic Securities Pty Limited, Drillsearch Energy (PNG) Limited, Frontier Bonaparte Pty Ltd and Drillsearch Energy (WA) Pty Limited. On November 14, 2007, the Company sold its holding in Bounty Oil Limited. On August 12, 2008, the Company announced the completion of merger with Great Artesian Oil and Gas Limited.(Source: ARS)
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