Flow Tests Scheduled for Maitland Appraisal Well

The Maitland-2 and Maitland-2CH appraisal wells, located in permit WA-33-R offshore Australia, have now been successfully drilled with core over the reservoir section recovered. A horizontal sidetrack, Maitland-3H has subsequently been drilled to its total depth penetrating more than 500 meters of the reservoir in the horizontal section and prepared for testing. The testing operations however have been interrupted due to water influx, believed to be coming from an open zone above the reservoir interval and current operations are remedying this.

The results of the planned flow test are not yet known however the drilling data is consistent with the pre drill prognosis. Specifically, a good 500 meter horizontal section through the gas charged reservoir has been achieved. The water influx understood to be coming from above the reservoir is a mechanical isolation issue associated with the well completion and is expected to be remedied in the next few days. Following this the flow test program will be commenced.

Partners in the well are Tap (Shelfal) Pty Ltd with 22.474%; Apache Oil Aust. Pty Ltd with 48.815%; Pan Pacific Petroleum NL with 10%; and Santos (BOL) Pty Ltd 18.711%.

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