Spud Date for Muggles-1 Offshore Australia Pushed Back

The operator of WA-254-P, Apache Northwest Pty Ltd, has advised that commencement of drilling the Muggles-1 well has moved to a likely spud of Juen 28th, due to slight delays on the completion of the Monet-2 well.

Apache has also advised that Muggles-1 may be further rescheduled in the event sea conditions at the Muggles location are unfavorable for positioning the Ensco 56 jack up rig. An update will be provided once the sea conditions are assessed closer to the anticipated spud date.

The Muggles Prospect is an M Australis stratigraphic pinch out trap within a Cretaceous channel on the Enderby Terrace. Prospect potential is estimated at 33.5 (mean) million barrels of oil recoverable. Muggles-1 is designed as a throw away well with planned total depth of 1,454 meters in water depth of 68 meters and a drill duration of approximately 6 days. If drilling is successful the discovery could be tied back to the Woodside operated Legendre Oil Field, lying 10 kilometers northwest of Muggles-1.