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AWE Limited Updates Ops at Waitsia-1 Appraisal Well

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   |    Friday,May 22,2015

AWE Limited reported that as at 06:00 hours (6.00am) AWST today the Waitsia-1 appraisal well was at a Measured Depth below Rotary Table (MDRT) of 2,337m and drilling ahead in a 12 ¼ inch hole to the next planned section depth of 2,480m, following the successful installation of 13 3/8 inch surface casing at 851m.

The Waitsia-1 well was spudded on 14 May 2015 and is forecast to take approximately six weeks in total to complete. The well will be drilled vertically to a planned total depth of 4,050m MDRT and is designed to further test the gas potential of the Waitsia Field, comprising primary targets in the deep conventional formations in the Kingia and High Cliff Sandstones.

The well will be logged and core samples will be collected and sent for analysis. Secondary targets in the shallower Dongara and Wagina tight sandstone formations, the Carynginia Shale and Irwin River Coal Measures will be intersected prior to reaching the primary targets.

If the results are positive, AWE may undertake a flow test of the Waitsia-1 well and the well may be completed as a production well for a potential future field development. The approved work program for the Waitsia-1 appraisal well does not include hydraulic fracture stimulation.

The Waitsia-1 appraisal well is located on agricultural land approximately 17km east of Dongara, Western Australia, and 10km from the operating Dongara gas plant. The well is the second of a three well drilling program planned for the Perth Basin in 2015. It will be followed by the Waitsia-2 appraisal well in the second half of the 2015 calendar year.

The Joint Venture partners in L1/L2 are:

• AWE Limited (via subsidiaries) (Operator) 50.0%
• Origin Energy Resources Limited 50.0%