AWE Abandons West Cape-1

AWE says that the West Cape-1 well was preparing to run wireline logs prior to plugging and abandoning the well. During the week, the well was drilled 2,181 meters from 1,500 meters to a total depth of 3,681 meters. No significant hydrocarbon shows were encountered through the primary objective Kapuni F Sands.

The West Cape prospect is located in the western Taranaki basin within PEP 38481. The prospect is located approximately 20 kilometers west of the Tui Area oil project, which recently started production. At the completion of the operations at West Cape-1, the Ocean Patriot drilling rig will be moved to drill the Kopuwai-1 well in PEP 38482.

Participants in PEP 38481 are:

AWE (Operator)                               40.0%
OMV New Zealand Pty Limited                  25.0%
Energy Western Holdings Ltd ("Shell NZ")     20.0%
Todd Petroleum Mining Company Ltd            15.0%

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