DIGITALX LIMITED — Capital/Financing Update 2011

Sep 28, 2011

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ASX Announcement

28 September 2011

O.B. Ranch #2 Update

• Well remains in an extended test and cleaning up phase

• Initial clean up rates 24 barrels of oil and 1,753 million cubic feet of gas per day/d plus frac fluids

• Latest production rates 22 barrels of oil and 475 million cubic feet of gas per day

Verus Investments (ASX: VIL) provides an update to the market with respect to the latest production rates from O.B. Ranch #2 (Bongo #2) appraisal/development well in Wharton County, Texas.

The well was perforated and fracture stimulated at each of the following individual pay intervals: Lower Cook Mountain 12,936ft – 12,948ft, Middle Cook Mountain 12,775ft – 12,790ft Upper Cook Mountain 12,535ft – 12,563ft.

The well was flowed back in order to clean up the fluids used to fracture stimulate the well prior to placing on it extended well tests and then permanent production. During the clean-up phase, the well unexpectedly commenced producing significant amounts of water. Extensive analysis and testing was performed to determine which intervals were contributing to the oil, gas and water production and the origin of the water.

It was determined that most of the hydrocarbons were coming from the upper Cook Mountain perforations, and the majority of the water was coming from the lower and middle Cook Mountain perforations.

Remedial work by way of setting a permanent bridge plug above the Middle Cook mountain perforations was successfully performed and the water production was reduced by 50% with no reduction in oil and gas production. The presence of water and the level of water production affect the well’s ability to produce hydrocarbons at its full potential, which is ultimately affecting the current production rates. The source of the water is yet to be determined and the salinity of the water raises some questions.

Office Address: Ground Floor, 30 Ledgar Road, Balcatta, Western Australia 6021 Postal Address: PO Box 717, Balcatta, Western Australia 6914 Phone: +61 (0)8 9240 8645 Fax: +61 (0)8 9240 2406 Email: info@verus.com.au Web: www.verus.com.au

The combination of recent production data, whole core analysis, well logs and seismic data indicate that the Cook Mountain formation is complex in nature with sands intermittently present at different intervals throughout the formation. Both wells are commercial, however, production data from the O.B. Ranch #1 and #2 wells seems to indicate that the reservoir is more limited in nature than can be seen on seismic data alone. This data, when coupled with the fresh formation water production at O.B. Ranch #2, has increased the commercial and technical risk of the project. The shallower Frio and Yegua formations remain untested and behind pipe at approximately 5,530 feet and 9,000 feet respectively.

The Cook Mountain, Yegua and Frio formations are undergoing review and further analysis to determine the potential for additional drilling locations on the Bongo Prospect and to optimise production from the entire Bongo play.

The Yegua and Frio sands encountered in this well were very encouraging, and the Verus team looks forward to developing further the well’s potential commerciality.

Verus will be working closely with the operator in the coming months to complete this review to understand the full potential of the play.

Bongo Prospect

The Bongo Prospect is located in Wharton County and is approximately 90km WSW of Houston, Texas. The prospect is in an AMI which encompasses approximately 2,667 gross acres (1,208 net acres). Caza Oil & Gas, Inc is the major working interest (WI) partner and operator. Verus Investments holds a 9.375% WI in this property.

For further information regarding the Company’s activities, please contact:

Mr. Gregory Lee Mr. Nathan Ryan Executive Director NWR Communications Investor Relations Tel: (+61 8) 9240 8645 Tel: (+61 0) 420 582887

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