Yardarino 6 Gas Appraisal Well Completed

ARC Energy has completed drilling operations on the Yardarino 6 gas appraisal well located in the onshore Per Basin Production License L2. The well was drilled to a total depth of 2,691 meters and wireline logging and pressure measurements have been completed.

Log data indicates gas saturations throughout the Carynginia Formation, Irwin River Coal Measures ("IRCM") and in the upper part of the High Cliff Sandstone section, but with poorer reservoir development in the IRCM than encountered at Corybas 1.

ARC is undertaking the completion of the well for further evaluation which may include fracture stimulation. Origin has declined to participate in the completion operation.

The next well location for the Century 11 rig will depend on operational conditions but will be either Jingemia 7 (an appraisal of the northern extent of the Jingemia Field in L2), or the Hakia 2 gas exploration/appraisal well.

Participants in L1 and L2 (excluding the Dongara, Mondarra and Yardarino fields) and Yardarino 6 are ARC Energy as operator with 50% and Origin Energy with 50%.