WESTSIDE CORPORATION LIMITED 
By 
WestSide advises that Landbridge has extended its Offer by two weeks such that the Offer will now close at 5.00pm (Brisbane time) on 8 July 2014 unless further extended or withdrawn by Landbridge in accordance with the Corporations Act 2001 (Cth).
WestSide's Directors continue to unanimously recommend that shareholders reject Landbridge's Offer and do nothing in relation to any documents sent by Landbridge.
Business update
Gas sales from the Meridian gas field averaged 11.6 TJ/day in May. This is the ninth consecutive month of stable gas production, with no new wells having been drilled for 18 months. This continuing performance reflects the strong underlying potential of the existing well stock and underpins WestSide's confidence in the productivity of future wells.
WestSide's current drilling programme continues on track. The first new well is anticipated to be on-line in mid-July and drilling will continue until August, with all wells expected to be connected and producing by September. This programme is the first step in enabling WestSide to deliver increased volumes into the new gas sales agreement with GLNG.
About WestSide Corporation Limited:
WestSide Corporation Limited is an ASX-listed company (ASX:WCL) (OTCMKTS:WBRIF) with gas production, significant gas reserves and exploration interests in Queensland.
WestSide operates the Meridian SeamGas gas fields west of Gladstone in Queensland’s Bowen Basin. The Meridian gas fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland’s commercial gas network.
WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%. The Meridian joint venture has executed a binding 20-year gas sales agreement with the GLNG Project at Gladstone to supply up to 65 Terrajoules of gas a day from 2015 at prices based on an oil-linked formula from 2016.
Elsewhere in the Bowen Basin, WestSide is currently operating an exploration and appraisal program at the ATP 769P (Paranui) and ATP 688P (Tilbrook and Mount Saint Martin) sites. WestSide holds a 25.5% interest in the tenements with Mitsui E&P Australia Pty Ltd (24.5 %) and QGC (50%).
Additional information is available on WestSide’s website: www.westsidecorporation.com
Source:
WestSide Corporation Limited
Contact:
Mike Hughes Managing Director and CEO WestSide Corporation Ltd Tel: +61-7-3020-0900 Damian Galvin Company Secretary WestSide Corporation Ltd Tel: +61-7-3020-0900
