150325 Irwin-1 spud
ASX Announcement
25 March 2015
AWE spuds Irwin-1 exploration well
AWE Limited (ASX: AWE) advises that the Irwin-1 exploration well, located in the onshore Perth Basin, Western Australia, was spudded at 08:45 hours (8:45 am) AWST on Wednesday, 25 March 2015. The Irwin prospect straddles the EP320 (AWE 33%) and L1 (AWE 50%, Operator) boundary and the Irwin-1 drilling program is being operated by AWE under an agency agreement with joint venture partner, Origin Energy Limited (ASX: ORG).
As at 10:18 hours (10.18am) AWST today, the well was at a measured depth of 115m and was drilling ahead in a 17 ½ inch hole to a planned depth of 930m in preparation for the installation of the 13 3/8 inch surface casing.
The Irwin-1 exploration well will be drilled vertically to a planned total depth of 4,064m and is forecast to take approximately seven weeks to complete. The well is designed to test the gas potential to the east of the Senecio and Waitsia gas fields and is targeting the Dongara and Wagina tight sandstone formations, the Carynginia Shale and Irwin River Coal Measures, as well as deeper conventional targets in the
Kingia and High Cliff Sandstones.
If the results are positive, AWE may undertake a flow test of the Irwin-1 well to better establish the commercial potential of the reservoir(s). The approved work program for the Irwin-1 exploration well does not include hydraulic fracture stimulation.
The Irwin-1 exploration well is located approximately 22.7kms east of Dongara, Western Australia. Irwin-
1 is the first well of a three well drilling program planned for the Perth Basin in 2015. It will be followed by the Waitsia-1 and Waitsia-2 appraisal wells on the newly discovered Waitsia Gas Field.
The Joint Venture partners in EP320 are:
AWE Limited (via subsidiaries) 33.0% Origin Energy Limited (via subsidiaries, Operator) 67.0%
The Joint Venture partners in L1 are:
AWE Limited (via subsidiaries, Operator) 50.0% Origin Energy Limited (via subsidiaries) 50.0%
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.
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
For information please see our website www.awexplore.com or contact:
lnvestor Relations Matthew Sullivan AWE Limited
02 8912 8022
[email protected]
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