Development Drilling Starts on Casino Gas Project

Australian Worldwide Exploration reports that the Casino-4 development well, located in VIC/L 24, commenced drilling on May 7, 2005. The well is currently drilling ahead in 17-1/2" hole at a measured depth of 518 meters after running and cementing 30" casing at 137 meters.

Casino-4 is the first of a two-well drilling program for the development of the Casino gas field. In this initial development well, the Waare Sandstone reservoir will be cored and evaluated prior to potentially sidetracking and completion as a sub-horizontal development well. The Casino-4 well has a proposed total depth of 1,800 meters.

Participants in VIC/L 24 are Santos as operator with 50%; peedamullah Petroleum (AWE) with 25%; and Mittwell Energy with 25%.

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