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Attn. Company Announcements Office
Australian Securities Exchange
21 October 2015
Re: Udacha-1 well PRL26
Rawson Resources Limited (ASX:RAW) is very pleased to announce the commencement of workover activities of the Udacha-1 well in the Udacha licence (PRL 26) in the Cooper Basin, South Australia. The Wild Desert-16 rig is expected to begin operations on 21 October 2015 to re-complete Udacha-1 in advance of a fracture stimulation and short flow test. A flowline will then be installed to connect the well into the nearby Middleton facility. It is anticipated that production should commence in early 2016.
The Udacha-1 well was drilled in 2006 and discovered wet gas in the Patchawarra sands. There are a number of currently producing fields surrounding Udacha and the development plan for PRL 26 will tie production back to the Middleton facility, which is operated by Beach Petroleum.
Should the Udacha-1 well meet expectations, planning for further drilling within the block will be undertaken by the joint venture.
Rawson Resources holds a 10% interest in the PRL 26 (Udacha) Joint Venture, alongside Beach Energy (15% - Operator; ASX:BPT) and Drillsearch (75%; ASX:DLS) and looks forward to updating the market as further results are available.
Allister Richardson
Executive Chairman
Rawson Resources Limited ABN 69 082 752 985
GPO Box 3374, Sydney NSW 2001