Triple Energy Updates on Drilling at Niaoshan-1 Well in Heilongjiang

Triple Energy Ltd., an Australian oil and gas exploration firm, updated Wednesday on activities at the Niaoshan-1 well currently underway in the Bird Mountain area of the Company's Aolong Joint Venture project in China's Heilongjiang province.

As of 8 am July 13 the well had reached a depth of 827 feet (252 meters) measured depth and was drilling ahead.

Niaoshan-1 was spud in the Bird Mountain area June 28 and is the first of two wells being drilled during 2015. The well is located around 1.2 miles (2 kilometers) from the previous Xian Xian-1 well drilled by the Joint Venture in 2013. The well is targeting several major coal seams for intersection which will be cored for desorption analysis and tested.

The well is planned to be drilled to a depth of approximately 4,265 feet (1,300 meters), which is expected to take around 6 weeks, inclusive of coring and testing.

The second well of 2015 will follow with the same rig once operations at Niaoshan-1 are complete. Further updates will continue to be made on a weekly basis during drilling and as material developments occur.


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