Bow Energy Comes Up Dry at Jawsone-1

The directors of Bow Energy Limited announced that the Jawsone-1 well in the Bowen-Surat Basin has been plugged and abandoned as a dry hole.

Mosaic Oil, the operator of the PL 15 Joint Venture, advises the Jawsone-1 exploration well, designed to test a four way closed prospect near the Showgrounds Sandstone zero edge, reached a total depth of 1,962 meters on July 19, 2008. Wireline logs run over the weekend confirmed the absence of reservoir quality sandstone in the target Showgrounds Sandstone and the well is being plugged and abandoned as a dry hole. Bow paid 50% of cost to drill the well to earn 25% interest in PL 15 (excluding Boxleigh and North Boxleigh fields). The results of Jawsone-1 will be used to help determine the zero edge of the Showgrounds reservoir edge in the PL.

The Carnarvon-3 core hole reached a total depth of 390 meters on July 19, 2008 and was completed as an observation hole. A total of 14 coal core samples were taken for gas content estimates and other analysis. The rig moved to Carnarvon-4 which was spudded at midnight on July 20, 2008.