Australia's Norwest Energy Updates on Operations at its Upstream Assets

Arrowsmith-3 Planning

Preliminary planning with the co-venturers has commenced for Arrowsmith-3, planned for the 2015/16 permit year, with timing dependent upon equipment availability and the regulatory approvals process.
The final decision on surface location, target formation and lateral extent will be made once the 3D seismic survey processing and interpretation cycle is complete, as a clear understanding of the subsurface geology is essential to this process.

EP413 Joint Venture

  • Norwest Energy NL - 27.945 percent (Operator)
  • AWE Limited - 44.252 percent
  • Bharat PetroResources Ltd 27.803 percent

TP/15 (Norwest 100 percent)

Norwest continues to progress discussions with Rey Resources to agree on the terms and conditions under which Rey may earn an interest in TP/15.

As detailed in the ASX Announcement dated Oct. 29, 2014, TP/15 contains a number of conventional oil plays, with primary prospect Xanadu having an un-risked prospective recoverable resource of 160 millob barrels (best estimate).

The Xanadu Prospect


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