AMU 0.00% 21.0¢ amadeus energy limited

gas find

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    2 July 2003

    Company Announcements Office
    Australian Stock Exchange Limited
    10th Floor, 20 Bond Street
    SYDNEY NSW 2000

    Dear Sir/Madam,

    Re: Lago Prospect, Lea County, New Mexico - Fort 21 Well #1 Successful Gas Discovery

    Amadeus Energy Limited is pleased to announce that the Lago Prospect - Fort “21” #1 well in
    Lea County, New Mexico has intersected a significant gas sand in the Carboniferous Morrow
    Sandstone. Electric logs indicate the Morrow Sand from 13,318 – 13,347 feet with 24 feet of
    net sand with porosities ranging from 8-12%. The sand has anomalous resistivities and
    excellent cross-over on the density-neutron logs.

    Strong gas shows were also intersected in the Mississippian carbonates below 13,500 feet and
    these shows may be evaluated at a later date.

    The Morrow Sand will be fracced and production tested from the 12th July following
    completion. The results of this test will be announced when they are received. Further stepout
    wells may be drilled to develop this significant discovery.
    Reserve estimates will be known after completion and testing.

    Amadeus Energy’s interest in the Fort “21” #1 well is 11.25%.

    Yours faithfully,

    Company Secretary / Executive Director
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