DIGITALX LIMITED — Capital/Financing Update 2009

Dec 28, 2009

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ASX Announcement

29 December 2009

The Manager Company Announcements Office ASX Ltd 4th Floor, 20 Bridge Street SYDNEY, NSW 2000

Dear Sir,

CONFIRMATION OF OIL & GAS AT FAUSSE POINT

Verus Investments Ltd (“Verus”) is pleased to advise that the TGR Land Co. Inc #1 Well at the Fausse Point oil and gas project in Louisiana, has intersected good hydrocarbon shows over several intervals whilst drilling to the current drilled depth of 7,695ft.

Due to another gas kick at approximately 7,580 ft and continued high levels of gas entering the well, it was decided to cease drilling to conduct electric logging operations and install an intermediate casing string before recommencing drilling. This casing protects the integrity of the potential discovery and allows the rig to safely drill to the next main targets.

The intersected formations appear to be slightly higher than anticipated and paleontology work is being performed to determine how the formation actually sits in relation what was forecast. Electric logs and sidewall coring has been performed and the data is currently being analysed in order to better understand the significance and potential of the formation sands that have been drilled through. The electric logs have provided some indications of hydrocarbons in the “Cris 47” unit at approximately 7,000 ft, consistent with what has been seen in the “mudlogs”. 44-45 deg API gravity oil indications are present in several of the sidewall cores taken over this interval. Further analysis is required before providing estimates of the thicknesses of the reservoir quality sandstone in these units along with interpretations of possible reserve potential.

Intermediate production casing is currently being run to 7,695ft and once cemented and pressure tested, drilling of the well to the other targets will continue. This is anticipated to take a few days.

Whilst the commercial nature of this hydrocarbon show has not yet been determined, this possible discovery, as well as the potential of the yet to be drilled main target, could be of significant value to Verus.

This is a significant advancement for Verus and the Board acknowledges Kindee Oil & Gas’s experience, focus and dedication in drilling this well.

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It is anticipated that drilling of the well to its target depth could take another 6-10 days.

Further market updates will be provided as drill results become available.

Comments

Whilst logging and coring data have indications of hydrocarbons, the significance cannot be determined until a full analysis is completed over the coming days. If warranted, a production testing operation will be conducted once the well has been drilled to its target depth.

Partners in the Fausse Point Project are:

Verus Investments Limited (ASX code: VIL) 50.00% WI Golden Gate Petroleum Ltd (ASX code: GGP) 20.00% WI Pass Petroleum L.L.C. 30.00% WI

Yours faithfully

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Andrew McIlwain Chairman

For further information, contact either; Mr. Andrew McIlwain (03) 9817 5067, or Mr. Paul Jurman/Mr. Craig Nelmes (08) 9240 2836

This report may contain forward looking statements that are subject to risk factors associated with resources businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by numerous variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates. Please review accordingly.