AWE's Henry-1 Well Brought Forward

Australian Worldwide Exploration has been advised by Santos that the drilling of the upcoming Henry-1 well has been brought forward in the current drilling program. As a result of this move, the Henry-1 well is now expected to be drilled in early to mid July, immediately after the current development drilling program for the Casino gas field.

The Henry prospect is located approximately 8 kilometers north west of the Casino gas field, which is currently being developed by the VIC/P 44 joint venture.

The well will target the gas potential of the Waarre Sandstone, which is productive at the nearby Casino gas field. The Henry prospect could contain reserves in excess of 100 petajoules of gas, which, if successful, will provide incremental production into the existing gas contract.

Participants in VIC/P44 are Santos as operator with 50%; Peedamullah Petroleum (AWE) with 25% and Mittwell Energy Resources with 25%.

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