Nexus' Crux-4 Appraisal Well Offshore Australia Nears Mark

Nexus Energy Ltd. advises that the Crux-4 appraisal well in exploration permit AC/P23, in the Browse Basin, was running 13 3/8 inch casing after the well has reached a depth of 1,833 meters true vertical depth subsea.

Over the course of the next week the anticipated operations will be to drill ahead in a 12 1/4 inch hole. The planned total depth of the Crux-4 well is 3,958 meters.

The Crux-4 well will test the South East Horst extension of the Crux field. The South East Horst lies outside of the Crux 'core' area and the reservoir distribution information which is expected to be obtained from this well is likely to have significant implications for further field appraisal and near field exploration such as the nearby Auriga prospect in the AC/P23 exploration permit.

The Crux-4 well is the second of three wells to be drilled in the greater Crux area. The third well, Libra-1 will be drilled in the adjoining AC/P41 exploration permit, in which Nexus holds a 50% interest in conjunction with its partner Shell Development (Australia) Pty Ltd.