Pateke - 4H drilling update

2/19/2014

Pateke - 4H drilling update

NORTH SYDNEY -- AWE reported that the Pateke-4H development well was at a measured depth of 1,507m and 13 3/8 inch casing had been run to the planned depth of 1,504m. Preparations are being made to cement the casing and prepare for the installation of the subsea wellhead.

The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007.

Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field. The well is being drilled in water depth of approximately 124m with a planned total measured depth of 5,361m, including a 1,272m horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO ("Umuroa") for production in 2015.

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