AWE Drills Duster Offshore Taranaki Basin

AWE advised that at 0600 hours the Tuatara-1 well was running cement plugs prior to abandoning the well.

Since the last report, the well was drilled to a total measured depth of 1,911 meters, during which minor oil shows were intermittently reported over the interval 1,790 – 1,850 meters. Wireline logs were run, but no zones of economic potential have been identified.

Tuatara-1 is located in PEP 38524, in the western Tasman Bay in the southern part of the offshore Taranaki Basin.

Participants in PEP 38524 are:

• AWE Limited (Operator) 60.0%
• Roc Oil (Tasman) Pty Limited 20.0%
• Kea Oil and Gas Limited 10.0%
• Carnarvon Petroleum (NZ) Limited 10.0%