Norwest Granted Suspension, Extension at TP/15 Well

Norwest Energy was granted a suspension and an extension to the terms of Exploration Permit TP/15 by the Western Australian Department of Mines and Petroleum. The offshore Perth Basin permit was extended from October 26, 2010 to August 26, 2011. Even though an extension was granted, Norwest must drill the Redhill South well as soon as a drilling rig is contracted and mobilized to site. TP/15 is a highly prospective permit that lies off the Western Australia coast, and holds the Redhill South prospect, which is estimated to have potential oil recoverable of 9MMbbl.

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