AWE Limited: Waitsia-3 appraisal well drilling update
Monday, May 29, 2017
AWE Limited (ASX: AWE), the Operator of Production Licences L1/L2 in the northern Perth Basin, Western Australia, advises that as at 06:00 hours (6.00am) AWST today the Waitsia-3 appraisal well was at 2,400 m Measured Depth below Rotary Table (MDRT) and drilling ahead in a 12 ΒΌ inch (311 mm) hole to the next planned section depth of 2,867 m MDRT, following the successful installation of 13 3/8 inch (340 mm) surface casing at 1,211 m MDRT.

Waitsia-3 was spudded on 19 May 2017 and is forecast to take approximately seven weeks in total to complete. The well will be drilled vertically to a planned total depth of 3,706 m MDRT and is designed to appraise the gas potential in the southern extension of the Waitsia Field, with primary targets being conventional reservoirs in the Kingia and High Cliff Sandstones and the secondary target being the sandstone reservoirs of the Irwin River Coal Measures.

The well will be logged and core samples will be collected and sent for analysis. Waitsia-3 is the first of a two well appraisal drilling program planned for the Waitsia field in 2017. If the results are positive, the well will be completed as a production well and a flow test may be performed.

Waitsia-3 is located approximately 19.8 km east-south-east of Dongara, Western Australia, and 10.8 km south of Waitsia-1. The approved work program for the Waitsia-3 appraisal well does not include hydraulic fracture stimulation.

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