Casino-5 Well Suspended for Future Production

Australian Worldwide Exploration Limited, on behalf of its wholly owned subsidiary Peedamullah Petroleum Pty Ltd reports that operations at the Casino-5 well, located in VIC/L 24, were preparing to suspend the well for future production operations.

During the clean-up flow period, the well flowed at a maximum rate of 43 million cubic feet of gas per day, with a flowing tubing head pressure of 2,372 pounds per square inch through a 60/64" choke. The flow rates were limited by the surface facilities. The flowing pressure and rate measured during the clean-up flow are in line with expectations.

The Casino-5 development well is located approximately 150 meters west of the Casino-2 well. Casino-5 is the second of a three-well drilling program in VIC/L 24 and VIC/P 44. Following completion of activities at Casino-5, the rig will move to drill the Henry-1 exploration well, located approximately 8 kilometers north west of the Casino gas field.

Participants in VIC/L 24 are Peedamullah Petroleum Pty Ltd (AWE) with 25.0%; Santos Limited as the operator with 50.0%; Mittwell Energy Resources Pty Ltd with 25.0%.

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