Raven Energy Limited provided the following operations update for the Tulainyo 2-7 gas appraisal well in the Sacramento Gas Basin, California. After drilling as planned to a total measured depth of 5,710 feet (1,740.4 metres) the Ensign Rig 587 was demobilised from site, the well cased and suspended and preparations are underway to return to site with a gas production testing unit. Detailed analysis of the well data has been conducted for the primary section of interest within the Early Cretaceous Lodogo Formation. The analysis indicates multiple stacked sandstone units, varying as expected in thickness and quality, that are all gas saturated. The well encountered gross sandstone reservoir thicknesses of up to 118 metres (386 feet) with estimated, net gas pay of 56 metres (183 feet). Higher quality reservoir units exhibit porosities ranging from 15%-20%. The Tulainyo project is located on the wests flank of the Sacramento Gas Basin approximately 120 km northeast of Sacramento. It is held under leases covering some 40,000 net acres (152 km²) positioned just 8 km from a major gas transport trunkline that supplies gas from Canada into the enormous California domestic gas market. California consumes on average some 7 Bcf of gas per day (2.6 TCF gas per year) and up to 11 Bcf of gas per day during peak periods. Gas prices attract a premium to the USA benchmark, Henry Hub pricing. The Tulainyo joint venture includes operator California Resources Production Corporation, a subsidiary of a NYSE-listed company that is one of California's oil and gas production companies and Cirque Resources LP, a private company based in Denver, Colorado. Estimated Recoverable Gas Resource Potential Raven's interest is held by its 60% owned subsidiary Gasfields LLC. At completion of the farm-in earning program the Company will have an effective 20% interest across the project.