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AWE to analyze data of Drover-1 well in EP455 in Perth basin

NORTH SYDNEY -- AWE Limited (AWE), as Operator of Exploration Permit 455 in the Perth Basin, Western Australia, reported that as on July 22 the Drover-1 exploration well had reached its planned total measured depth of 2,356 m and 5 ½ inch production casing is currently being run in the well.

All target formations have been intersected and initial log data indicates a 787 m section of Kockatea Shale, a 257 m section of Carynginia Shales, a 289 m section of Irwin River Coal Measures and a 14.5 m section of High Cliff Sandstone.

In addition to the 21.5 m of core samples taken from the Kockatea Shale formation previously stated, sidewall cores have been taken from the Kockatea Shale as well as from deeper formations comprising the Carynginia Shale, the Irwin River Coal Measures and the High Cliff Sandstone.

Gas readings were observed while drilling, although the significance of these readings is yet to be determined. This data, together with wireline logs and core samples, will be analysed and evaluated before determining the next phase of exploration activity.

After the 5 ½ inch production casing has been set, the well will be suspended pending the outcome of the analyses of the data obtained during coring and logging operations. The drilling rig will be released and demobilised after the casing has been set.

The Drover-1 exploration well is located on pastoral land in the Shire of Coorow, approximately 18 kms southeast of Green Head and 220 kilometres north of Perth. Drover-1 is a vertical exploration well designed to test the unconventional gas potential in the southern area of AWE’s Perth Basin acreage.

The Joint Venture partners in EP455 are: AWE (via subsidiaries) (Operator) 81.50% and Titan Energy 18.50%.

07/22/2014

 

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