Bengal Energy Ltd. Announced that drilling of the Chef-1 exploration well, located in the Authority to Prospect 752 ("ATP 752") within the Barta sub-block, Potential Commercial Area 206 (PCA 206), has been completed. Following a review of the well logs, the ATP 752 joint venture parties have decided to plug and abandon the well. This exploration well is located outside of the producing Cuisinier field Petroleum Lease 303 ("PL 303"), in a location 4 km to the northeast with primary targets in the Jurassic Birkhead Formation and Hutton Sandstone, and secondary targets within the Triassic Nappamerri Group. The well encountered multiple oil shows in the primary and secondary targets; however, no commercial pay was identified at this location. The Birkhead Formation contained strong oil shows whilst drilling with up to 80% fluorescence and associated gas. Testing of this zone revealed 15% oil saturation (85% water) indicating that oil flowed into this structure but appears to have been subsequently swept. The Company is encouraged by these results, as it indicates that structural targets in this region are likely to have received hydrocarbon charge. Future exploration wells will be informed by these results and seek to identify independent structures isolated from historic production with the objective of high-grading potential oil-bearing targets. These drilling results also support the Company's expectation that this play extends beyond the northern side of the Cook oil field through the Cuisinier oil field within PCA 206 and PCA 207 where Bengal also holds a 30.357% interest.