Nexus Resumes Production at Longtom-4 Well in Gippsland Basin

Nexus Energy Limited (Nexus or Company) announced Wednesday that Longtom gas production in Block VIC/L29 offshore Gippsland Basin, Australia recommenced from the Longtom-4 well March 11.

Further to the operational updates issued Feb. 21 and March 4, a Nexus led offshore intervention program commenced work on the field March 6 to locate, inspect and potentially rectify the electrical fault that suspended production at the Longtom gas facility.

The location of the electrical fault has been identified within the Longtom-3 subsea facilities. As a result, the Longtom-3 well has been isolated and is currently not producing. An assessment will now commence to define the scope of work and timing of a future campaign for a return to production, from the Longtom-3 well.

Nexus securities continue to be in Voluntary Suspension whilst the Company considers the implications of the Longtom outage.

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