AWE Updates Progress on Casino Development Work

Australian Worldwide Exploration reports that the Casino-4 development well, located in VIC/L 24, was preparing to cut a core at a measured depth of 1,761 meters. The Top Waarre reservoir section was intersected as prognosed. Progress for the week was 1,243 meters.

Casino-4 is the first of a two-well drilling program for the development of the Casino gas field. In this initial development well, the Waarre Sandstone reservoir will be cored and evaluated prior to potentially sidetracking and completion as a sub-horizontal development well. The Casino-4 well has a proposed total depth of 1,800 meters.

Participants in VIC/L 24 are Santos as operator with 50%; Peedamullah Petroleum (AWE) with 25% and Mittwell Energy with 25%.

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