AWE Says Initial Production Begins at BassGas Project

Australian Worldwide Exploration Limited reports that the initial gas production from the field was introduced into the production platform on January 29, 2005. This first gas production is a major milestone for the project and for AWE.

As previously announced by the project operator, the introduction of raw gas to the platform will allow the commissioning of the offshore platform and the packing of the 187 kilometer raw gas pipeline to the onshore gas plant at Lang Lang. Furthermore, the initial gas production will allow for product sales to commence in February 2005 with the ramp up to design flow rates expected in March 2005.

Participants in the BassGas Joint Venture are Origin Energy as operator with 32.5%; AWE Petroleum with 30%; CalEnergy Gas with 20%; Wandoo Petroleum with 12.5% and Origin Energy Northwest Limited with the remaining 5%.