AWE Prepares to Install Subsea Wellhead at Pateke-4H Well in PMP 38158

AWE Limited reported Tuesday that as at 06:00 hours (6.00am NZDT), the Pateke-4H development well in petroleum mining permit (PMP) 38158 off New Zealand was at a measured depth of 4,944 feet (1,507 meters) and 13.375 inch casing had been run to the planned depth of 4,934 feet (1,504 meters). 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 406 feet (124 meters) with a planned total measured depth of 17,588 feet (5,361 meters), including a 4,173 feet (1,272 meters) horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

The Joint Venture partners in PMP 38158 are:

• AWE Limited (via subsidiaries) (Operator): 57.5 percent
• New Zealand Oil & Gas (via subsidiaries): 27.5 percent
• Pan Pacific Petroleum (via subsidiaries): 15.0 percent