150219 Senecio-3 Flow Test Final
ASX Announcement
19 February 2015
AWE begins flow test of Senecio-3
AWE Limited (ASX: AWE) as the Operator of the L1/L2 joint venture, today announced that it had commenced the flow testing program for the Senecio-3 well to further appraise the Waitsia gas discovery in the onshore Perth Basin, Western Australia.
Following completion of drilling operations at Senecio-3 in September 2014, AWE estimated that the Kingia and High Cliff Sandstone intervals in the Waitsia gas field have gross Contingent Resources in the range from 65 billion cubic feet (Bcf) to 1,170 Bcf, with a best estimate (2C) of 290 Bcf.
The testing program is designed to determine well deliverability from two conventional reservoir zones and to collect gas samples for compositional analysis.
The first zone being flow tested is the secondary target in the deeper High Cliff Sandstone, where a
5 metre interval (3,254m-3,259m) has been perforated and well clean-up operations are in progress.
Operations commenced at approximately 11:00 hours AWST (Australian Western Standard Time) on Wednesday 18 February and as at 06:00 hours AWST on Thursday 19 February well clean-up operations were in progress. Following well clean-up, it is planned to shut-in the well to conduct an initial period of pressure build-up before commencing flow testing.
Following completion of testing on the High Cliff Sandstone, it is planned to set a plug to isolate the lower interval prior to commencing testing of the primary target in the upper Kingia Sandstone. A similar well test program will be conducted on a 10 metre interval (3,173m-3,183m) in the Kingia Sandstone.
The testing program is expected to be completed by mid-April, and results from the flow testing will be provided after testing on each of the zones has been completed.
Further appraisal of the Waitsia field is planned in late May with the drilling of the Waitsia-1 well,
3km to the east of Senecio-3 in L1/L2. This well will follow the planned Irwin-1 exploration well in EP320 (operated by AWE under an agency agreement with joint venture partner, Origin Energy) that is scheduled to spud in late March. Irwin-1 will target multiple reservoir objectives including the Kingia and High Cliff Sandstones approximately 6km east of the Senecio-Waitsia Fields.
The Joint Venture partners in L1/L2 are:
AWE Limited (via subsidiaries) (Operator) 50.0% Origin Energy Resources Limited 50.0%
AW E LIMITED LEVEL 16, 40 MOUNT STREET NORTH SYDNEY NSW 2060 AUSTRALIA P +61 2 8912 8000 F +61 2 9460 0176 E [email protected] ABN 70 077 897 440 www.awexplore.com
About AWE Limited.
AWE Limited is an Australian based energy company focused on upstream oil and gas and related energy opportunities. Established in 1997 and listed on the ASX, the Company is headquartered in Sydney, Australia, with international operating offices in New Zealand and Indonesia. AWE has built a substantial portfolio of production, development and exploration assets in Australia, New Zealand, USA, Indonesia and China. With its strong technical base and disciplined financial management, AWE will continue to pursue exploration, appraisal and development growth opportunities in Australasia and Asia.
Figure 1. Depth map on the Senecio and Waitsia fields
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Table 1. Gross Contingent Resources estimates for the Senecio and Waitsia fields
Field (Permits L1/L2)
|
Reservoir Interval
|
Discovered Original Gas
in Place (Bcf)
|
Contingent Resources
(Bcf)
|
P90
|
P50
|
P10
|
1C
|
2C
|
3C
|
Senecio
|
Dongara/Wagina
|
86
|
148
|
246
|
40
|
70
|
130
|
Waitsia (Senecio Deep)
|
Kingia/High Cliff Sandstone
|
115
|
489
|
1961
|
65
|
290
|
1170
|
Table 2. Net Contingent Resources estimates for the Senecio and Waitsia fields
Field (Permits L1/L2)
|
Reservoir Interval
|
AWE 50% Share (Bcf)
|
1C
|
2C
|
3C
|
Senecio
|
Dongara/Wagina
|
20
|
35
|
65
|
Waitsia (Senecio Deep)
|
Kingia/High Cliff Sandstone
|
33
|
145
|
585
|
Reserves and Resources.
The reserve and resource information contained in this announcement is based on information compiled by Neil Tupper (General Manager, Exploration and Geoscience). Mr Tupper is a Geologist with a Masters Degree in Sedimentology and has over 32 years' experience in petroleum exploration. He consented in writing to the inclusion of this information in the format and context in which it appears.
Conversion Tables
Energy Value
|
Barrel of Oil Equivalents (BOE)
|
1,000 standard cubic feet of sales gas yields about
1.055 gigajoules (GJ) of heat
1 petajoule (PJ) = 1,000,000 gigajoules (GJ)
1 gigajoule = 947,817 British Thermal Units (BTU)
|
Oil 1 barrel = 1 BOE
Condensate 1 barrel = 1 BOE LPG/NGLs 1 tonne = 11.6 BOE Sales Gas 6PJ = 1 million BOE
|
For information please see our website www.awexplore.com or contact:
Investor Relations Media Enquiries
Matthew Sullivan Ian Howarth
AWE Limited Collins St Media
02 8912 8022 03 9600 1979
[email protected][email protected]
ENDS
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