International TME Resources Inc. Reports a Success on the MIRAGE 4 on PEL 115 - Rig Moves to Test Boundaries of Mirage Oil Field

Dallas, Texas, Friday, April 7, 2006 — International TME Resources Inc. (ITME):OTC announces that the operator for PEL 115 advises that the Mirage-4 well will be completed for future oil production. This is the third successful development well to be completed. The Mirage-2, Mirage-3 and Mirage-4 wells all encountered hydrocarbons in the Murta pay zone, same as the discovery well Mirage-1.

All three wells have been prepared for completion and when facility construction in the field is finished the wells will be production tested to determine the optimum producing wells for tie in to the facilities. This activity is expected to be complete by mid June 2006. PEL 115 is located in the prolific Cooper/Eromanga Basin and consists of 273,297 gross acres.

About The Mirage Oil Field
Mirage-1 was discovered in 2004 and began oil production in January 2005. The Mirage-1 well produces approximately 400 BOPD from the Murta Formation and has produced over 37,000 barrels of oil to date. Mirage-2 was spudded in Feb 06 and is being completed as a Murta Formation oil well.

Mirage-2 is currently shut-in pending the arrival of a swabbing unit to swab the well in for production testing. The Mirage-3 well spudded in March 06 and will be completed as a Murta oil producer after having successfully completed Drill Stem Test (DST) No.1 with an estimated flow rate of 324 barrels of oil per day. The Mirage-4 well will be completed for future oil production.

The Mirage Oil Field - Possible 20 MM Bbls
The operator for the PEL 115 advises that interpretation of the 3D seismic data is indicating that the oil/water contact encountered in Mirage-1 is below what has been mapped as the structural closure of the Mirage feature. This means that the Mirage Oil Field has either a stratigraphic component or the Mirage Oil Field is larger than first mapped.

The interpretation of the 3D data set suggests that Mirage-1 could be part of a larger feature covering approximately 20 square kilometers that includes the Lightning and Jindivik prospects five kilometers to the northeast.

Using conservative reservoir parameters, such an area has the possibility of containing up to 20 million barrels of oil in place on TME's ORRI.

Additional Drilling on PEL 115
The PEL 115 operator is now preparing to move the rig to Lightning-1, four kilometers to the northeast, followed by Jindivik-1 both of which will test the greater Mirage Murta oil pool concept of a potential 20 million barrels of oil in place over the Mirage-Lightning-Jindivik area. Lightning-1 is anticipated to commence drilling on April 9th.

Lightning-1, in addition to being a Murta oil test will also explore for hydrocarbons in the deeper Permian Patchawarra section with the potential to contain a recoverable target of up to 130 billion cubic feet of gas or 18 million barrels of oil, if oil and gas is present. Up dip gas shows in the previously drilled Burruna-1 in basement overlain by the sealing shale for the Patchawarra Formation in the adjacent Permian oil and gas fields to the north provide encouragement for the Permian hydrocarbon potential at Lightning-1. Burruna-1 lies two kilometers to the southwest of the Lightning-1 well location.

Mirage Oil Field Daily Oil Production Increase
If the production testing of Mirage-2, Mirage-3 & Mirage-4 on the Mirage Oil Field is successful, we should see an increase in production from the current 400 barrels of oil per day from the Mirage-1 to a possible target of approximately 1,000 +/- barrels of oil per day. Any increase in oil production from the Mirage Oil Field would be timely in this current time of high oil prices.

About TME:
The company has royalty interests in more than 4,651,695 acres located in two-world class petroleum basins in Australia, the Cooper-Eromanga Basin and the Gippsland Basin. Substantial holdings have been acquired in two world class petroleum basins. The Cooper-Eromanga Basin (Onshore) located in the state of South Australia and the Gippsland Basin (Offshore) located in the Bass Straits and offshore to the State of Victoria.

Offshore
The Company has acquired royalty holdings in 370,572 acres in the Gippsland Basin. This Basin contains some of the largest fields in the world and wells that are world record Producers. One well in the Halibut Field has produced 60 million bbls. of oil — a world record. Many TCF of natural gas have been produced from fields in this Basin.

Onshore
The Company has acquired royalty and working interest holdings in 4,281,123 acres in the Cooper-Eromanga Basin. To date, this Basin has produced a total of 11 Trillion cubic feet of natural gas and 450 million barrels of oil have been discovered. Since the first gas discovery in 1963, a total of 123 gas fields and 58 oil fields have been discovered.