AWE Drills Positive Results in the Pecten East-1 Well

AWE reports that the Pecten East-1 well was running wireline logs at a measured depth of 1,993 meters. Gas shows encountered in the well over the interval 1,865 to 1,942 meters were evaluated by logs and pressure testing and were proven to be residual. Progress for the week was 1,363 meters.

The well targeted two separate objectives and was drilled in a down dip position on the Waarre A sand, which is the reservoir at the Henry gas field and the objective at Netherby-1. The joint venture is considering a separate crestal well to fully evaluate the Pecten East structure.

Pecten East-1 was the first well in the current drilling program, which will target additional gas reserves in the offshore Otway Basin. The Netherby-1 exploration well and the Henry-2 development well will follow immediately after Pecten East.