DIGITALX LIMITED — Capital/Financing Update 2011

May 11, 2011

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ASX Announcement

12 May 2011

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

Dear Sir,

Fausse Point Appraisal Update

Key Points

• First review of reprocessed seismic completed.

• Significant structure identified.

• Fausse Point 2 appraisal well location to be accessed from existing location.

Verus Investments Ltd (‘Verus’; ASX code: VIL) is pleased to provide the following Fausse Point project update, which is located onshore, approximately 140km west of New Orleans, in South Louisiana.

Fausse Point Reprocessing and Re-interpretation

Considerable work has been completed over the past three months in reprocessing and reinterpretation of the acquired seismic data covering the Fausse Point discovery well (TGR-1), which spudded in 2009, and the surrounding region. Data from numerous wells around the salt dome and particularly in the Fausse Point discovery area have also been purchased and used to assist in the overall interpretation and evaluation of the initial discovery.

Although the original 1994 3D seismic data has excellent signal quality, it contains various acquisition design problems. This initially created minor interpretational issues, however using modern day reprocessing techniques the data has now been adequately reprocessed.

The initial review and assessment of the re-interpreted seismic has been very encouraging and has determined a well-defined structure.

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 TGR-1 pay appears to be in an upthrown fault block that closes against salt, the updip part of the trap is believed to be subsalt and the sand a “stray” channel sand.

The structure appears to be of considerable size and could potentially contain a significant volume of hydrocarbons.

Depth map from Seismic interpretation

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The bottom hole location will be accessible from the existing TGR-1 location with a sidetrack from the original wellbore, significantly reducing the drilling costs.

A drilling proposal and well cost estimate will be provided by the operator shortly for partner approval. Depending on the well costs and complexity the Company may look to reduce its working interest exposure.

The Company is encouraged by the reprocessing and re-interpretational seismic work.

Partners in the Fausse Point Prospect are:

Company	WI
Verus Investments Ltd (ASX: VIL)	72.0%
Golden Gate Petroleum Ltd	18.0%
Oakmont Minerals	10.0%

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

Mr. GregoryLee	Mr. Nathan Ryan	Mr. CraigNelmes
Executive Director	NWR Communications Investor Relations	Finance & Administration
Tel:(+61 8)9240 8645	Tel:(+61 0)420 582887	Tel:(+61 8)9240 8645

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