Nexus to Spud Garfish-1 with West Triton Jackup

Nexus Energy Limited advises that the exploration well Garfish-1 (formally referred to as Longtom Upper) in the Gippsland Basin (Production License VIC/L29) offshore Victoria, is expected to spud early next week using the West Triton jackup drilling rig.

The primary target of the Garfish-1 well will be to test a seismic anomaly which directly overlies the Longtom gas field. Similar seismic anomalies at Longtom have been shown to indicate the presence of gas bearing reservoir sands. Following the intersection of the primary target, the well will then be deepened to confirm that the main reservoir sands of the Longtom field extend to the western part of the VIC/L29 license area.

The Garfish-1 exploration target is calculated to have a resource potential of 180 Bcf. Nexus will provide weekly drilling updates to the market and it is expected to take approximately two weeks to reach the primary exploration target for the Garfish-1 well.

The Garfish-1 exploration well is located in Production License VIC/L29, in the offshore Gippsland Basin, Victoria Australia. Nexus Energy holds 100% of Production License VIC/L29.

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