Blue Energy Limited is pleased to provide the following update in respect of the Company's Marburg 1 oil exploration well in ATP854P, Surat Basin, Central Queensland.

Testing operations on the suspended well are about to commence with a work over rig having been secured to undertake the work. The rig is currently mobilising to site and testing operations are expected to commence over the weekend of the 4 th and 5th of January 2014.

As announced to the market at the completion of drilling operations on the Marburg 1 well last October, the well was suspended pending the availability of a suitable work-over rig and testing equipment to undertake a final and conclusive evaluation of the main Precipice Sandstone Target.

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