AWE Limited that at 06:00 hours (6.00am) AWST today the Waitsia-2 appraisal well was at a Measured Depth below Rotary Table (MDRT) of 2,802m and was drilling ahead in a 12 ¼ inch hole to the next planned section depth of 2,825m.

The Waitsia-2 well was spudded on 28 June 2015 and is forecast to take approximately seven weeks in total to complete. The well will be drilled to a planned maximum total depth of 3,803m MDRT and is designed to test the gas potential in the southern extension of the Waitsia Field, comprising primary targets in the deep conventional formations in the Kingia and High Cliff Sandstones.

If the results are positive, AWE may undertake a flow test of the Waitsia-2 well and the well may be completed as a production well for a potential future field development. The approved work program for the Waitsia-2 appraisal well does not include hydraulic fracture stimulation.

The Waitsia-2 appraisal well is located on agricultural land approximately 16.5km east-southeast of Dongara, Western Australia, and 5.6km south-southwest of Waitsia-1. The well is the last of a three well drilling program planned for the Perth Basin in 2015.

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