Drilling Commences at Liyun-1 Well

Indonesian Fields
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Drilling has commenced at the Liyun-1 well, which is situated in a water depth of 180 feet (55 meters). The well has a planned total depth of 8,432 feet (2,570 meters), and is targeting the oil potential of the Kujung I reef carbonates, currently producing in an acreage to the east of the Bulu Production Sharing Contract. AWE is the operator of the Bulu Production Sharing Contract, holding a 42.5% interest; Pearl Oil holds a 42.5% interest; PT Satria Energindo holds a 10% interest; and PT Satria Wijaya Kusuma holds the remaining 5% interest.

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