Stuart Petroleum Says Tawriffic East #1 a Dry Hole

Stuart Petroleum says that the Tawriffic East #1 oil exploration well, located in Australia, has drilled to a total depth of 1722m, run wireline logs and run drill stem tests in the Murta formation over the interval 1253m to 1265m and Cadna-Owie formation over the interval 1194.5m to 1206.5m. No hydrocarbons were recovered from either test and Tawriffic East #1 will now be plugged and abandoned.

Participants in the Tawriffic East #1 well are Stuart Petroleum Limited as operator with 70.0% and Cooper Energy with 30.0%