PATERSON RESOURCES LTD — Capital/Financing Update 2006

Nov 15, 2006

Lével 8, 256 St Georges Terrace- Pertr, Western Australia 6000 Elion de Sicolais de Vela 19 martin (mort Mostein Ale Islandoz

16 November 2006

Australian Stock Exchange Companies Announcement Office 20 Bridge Street SYDNEY NSW 2000

Dear Sirs,

Acquisition of Premises

Uranium Oil & Gas Limited has signed a conditional contract to acquire freehold premises at 113 Mackie Street Victoria Park Western Australia for the sum of $650,000. The acquisition is subject to approval from the Town of Victoria Park for UOG to operate their business from the property and this condition is expected to be approved by the end of January 2007.

Yours faithfully URANIUM OIL & GAS LIMITED

John Van Dieren Joint Company Secretary