Indo-Pacific, as permit operator, recently proposed to the PEP 38753 joint venture that the Wawiri well be drilled in 3rd Quarter 2003 and this was agreed. Wawiri-1 will test the oil bearing potential of Mt Messenger sandstones in a trap situated just to east of Swift Energy's Ngaere oil field. Several nearby wells have produced oil from within these Mt Messenger sands.
Indo-Pacific is also preparing a drilling proposal for the PEP 38746 permit area, adjacent to the McKee oil field. This well proposal will be considered by the joint venture parties in early June, and if approved is planned to be drilled 'back to back' with Wawiri-1.
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