AWE Says Yolla-4 Development Well Completed

Australian Worldwide Exploration reports that production testing of sandstone reservoirs within the Eastern View Coal Measures (EVCM) on the Yolla 4 development well had been completed, and the well secured in preparation for hookup to the Yolla "A" platform gathering system.

Production test results for the first three zones tested in Yolla-4 were reported on August 2. The Mid EVCM Gas Zone was opened for flow test on August 7. The flow rate recorded was:

Zone Interval (mMD) Flow Test Results
Mid EVCM Gas Zone 2962.5 - 2973.0 32.2 million cubic feet per day of gas + 800 barrels of condensate per day at 2850 psi on a 52/64" choke.

Gas flow rates was controlled to remain within the constraints of the rig’s test equipment and to provide suitable conditions for sampling, and does not reflect maximum zone deliverability.

Condensate rates reported above are from the separator which is operating at elevated temperature and pressure. Actual condensate content of the gas, and condensate yields during production, will be higher than these levels

The rig has now been skidded over the Yolla-3 well slot. At 9.00am today, preparations were being made to run the low pressure riser and diverter prior to commencement of drilling of that well.

Participants in T/L 1 are: AWE Petroleum Pty Ltd 30.0%
Origin Energy Resources Limited (Operator) 32.5%
CalEnergy (Australia) Limited 20.0%
Wandoo Petroleum Pty Ltd 12.5%
Origin Energy Northwest Limited 5.0%