AWE JV Confirms Netherby-1 as Gas Discovery, Plans for Tie-In

Logging and evaluation of the Netherby-1 exploration well located in VIC/P44, approximately 4 kilometers north of the Henry-1 gas discovery, has been completed. Good quality gas-bearing Waarre A Sandstones were intersected and the extent of the new field is interpreted to be in line with pre drill expectations.

The well is currently being sidetracked and will be completed as a producer and tied by pipeline to Henry and Casino gas fields, as part of the Henry development currently underway.

The Henry-2 pilot and development wells will follow immediately after the Netherby development well.

Participants in VIC/P 44 are operator Santos Limited with 50%, AWE with 25% and Mitsui E&P Australia Pty Ltd with 25%.