Henry-1 Exploration Well Encounters Gas Shows

Australian Worldwide Exploration Limited reports that the Henry-1 exploration well, located in VIC/P 44 has reached its total measured depth of 2,100 meters. Following completion of logging activities, the well will be plugged and abandoned as planned.

Preliminary analysis of the mudlog and measured-while-drilling (MWD) logs indicate that the well has encountered approximately 18 meters of gas bearing sandstone in the primary target horizon, the Waarre Sandstone. The extent of the gas shows is in line with the pre-drill expectations.

Wireline logging operations and analyses will need to be undertaken to establish whether Henry-1 can be declared a wildcat gas discovery.

Henry-1 is located approximately 8.5 kilometers north-west of the Casino gas field, where two successful gas development wells were recently completed.

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

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