"TME" announces that it has formed a joint venture to hold certain royalty interests acquired in the Bass Straits, Gippsland Basin, offshore Victoria, Australia.

The Company "TME" announces that it has formed a joint venture to hold certain royalty interests acquired in the Bass Straits, Gippsland Basin, offshore Victoria, Australia. TME will earn a 15 % carried interest in the Venture. The lease covers 214,896 Acres and the Operator is BHP Billiton. BHP is one of the largest and most successful petroleum exploration and production companies in the world. The lease is located 1.8 miles East of the Kingfish Field, operated by BHP and EXXON, which has produced 1.1 Billion barrels of oil to date. The Halibut (840 million barrels oil) and the Cobia Fields (135 million barrels oil) are located just to the north. Cumulative production PER WELL in the Halibut Field is 60,000,000 barrels of oil. This is a world record. BHP has indicated plans are to drill on one of more than 14 Structures on the lease, in the near future. Thus, TME becomes a partner with industry giants in one of the most prolific offshore basins in the world.