AWE Says Casino-4 Log Data Indicates Good Quality Pay

Australian Worldwide Exploration Limited reports that the Casino-4 sidetrack, located in VIC/L 24, was running the completion, prior to conducting a clean up flow.

During the week, the production hole was drilled to a total measured depth of 2,404 meters. Progress for the week was 406 meters. Approximately 370 meters of near horizontal hole was drilled through the Waarre Sandstone reservoir and sand exclusion screens were run. Log data indicated the presence of good quality reservoir. Completion equipment is being run prior to conducting a clean up flow and suspending the well for future production.

Casino-4 is the first of a two-well drilling program for the development of the Casino gas field. Upon suspension of Casino-4, the rig will move to drill the Casino 5 production well in the eastern part of the field, near the Casino-2 exploration well.

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

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