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PATERSON RESOURCES LTD Interim / Quarterly Report 2007
65618_rns_2007-07-26_e5e85389-8a27-4802-8415-c1ebe0d04a87.pdf
Interim / Quarterly Report
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Uranium, Oil & Gas Limited | 4/27 Old Great Northern Hwy | Midland | WA | 6056 PO Box 1561 | Midland | WA | 6936 p (08) 9250 8577 f (08) 9250 8566 e [email protected] www.uog.com.au
URANIUM OIL AND GAS LIMITED (UOG)
QUARTERLY REPORT (Fourth Quarter) APRIL-JUNE 2007
HIGHLIGHTS
Arc Energy continues to explore EP 448 in the Canning Basin
Western Australia - Oil Exploration
During the quarter Arc Energy Limited ("ARC") acquired a 5% interest in EP 448 by completing the West Anketell aeromagnetic survey. ARC has advised the EP 448 Farmors, including Uranium Oil and Gas that it now wishes to exercise its option to acquire an additional 35% in the permit in accordance with the terms of the farm-in as set out in the HOA dated 5 December 2006. ARC has also notified the EP 448 Farmors that it agrees to accept and assume operatorship of the EP 448 Joint Venture subject to a resolution giving effect to the change in operator.
Western Australia - Minerals
During the quarter many of the mineral properties were appraised in detail both on the ground and through data research. This has culminated in the withdrawal from the Wannamal Joint Venture with Swancove Pty Ltd. and the forthcoming relinquishment of the Galah Rocks and Walling Rocks Projects.
Northern Territory
The airborne (helicopter) radiometric survey at the Lucky U prospect in the Harts Ranges has been delayed until August.
Yours faithfully URANIUM OIL AND GAS LIMITED
With amount.
W.E.Bannister AWASM, MSc Managing Director
The information within this report as it relates to geology and mineral resources was compiled by the Managing Director Mr William Bannister. Mr Bannister has sufficient experience which is relevant to the style of mineralization and the type of deposit under consideration to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code." Mr Bannister consents to the inclusion in the report of the matters based on information in the form and context which it appears.