Operational Updates | Key Wells

AWE Limited Hits TD at Waitsia-2 Well; Elevated Gas Shows

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AWE Limited, the Operator of Permits L1/L2 in the Perth Basin, Western Australia, advises that the Waitsia-2 appraisal well reached Total Depth (TD) of 3,530m Measured Depth below Rotary Table (MDRT) at 04:30 hours (4:30am) AWST on 26 July 2015 and preparations are now underway to commence a wireline logging program.

All target formations were successfully intersected. Total depth was achieved 16m into the Nangetty Formation, which was intersected at 3,514m MDRT.

Three sections of core were cut in the primary target, the Kingia and High Cliff Sandstones. Core #1 was cut from 3,154m to 3,209m; Core #2 was cut from 3,209m to 3,264m; and Core #3 was cut from 3,264m to 3,327m MDRT. All cores will be sent for analysis.

Elevated gas shows were observed in the primary target Kingia and High Cliff Sandstones as well as the Carynginia Shale and Irwin River Coal Measures.

The Waitsia-2 well was spudded on 28 June 2015 and is forecast to take approximately seven weeks in total to complete. The well is designed to test the gas potential in the southern extension of the Waitsia Field, comprising primary targets in the deep conventional formations in the Kingia and High Cliff Sandstones.

If the results are positive, AWE may undertake a flow test of the Waitsia-2 well and the well may be completed as a production well for a potential future field development. The approved work program for the Waitsia-2 appraisal well does not include hydraulic fracture stimulation.

The Waitsia-2 appraisal well is located on agricultural land approximately 16.5km east-southeast of Dongara, Western Australia, and 5.6km south-southwest of Waitsia-1. The well is the last of a three well drilling program planned for the Perth Basin in 2015.

The Joint Venture partners in L1/L2 are:

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