Apache Spuds Gungurru-1 Offshore Australia

Australian Worldwide Exploration reports that the Gungurru-1 well commenced drilling this week and is located in permit WA-202-P in the offshore Carnarvon Basin, Western Australia.

The Gungurru-1 well will evaluate the Early Cretaceous m. australis sands which form the reservoir at the Wandoo field, located approximately 10 kilometers to the southwest. The operator has estimated that the structure has the potential to contain recoverable reserves of 9 million barrels of oil. The well has a planned total depth of 1,232 meters.

AWE has elected not to participate in this well, but has the right to retain its working interest in any discovery by payment of a penalty.
Participants in WA-202-P are Apache as operator with 50%; Wandoo Petroleum with 40% and AWE Petroleum with 10%.
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