AWE Encouraged by Oil Flows at Yemeni Find

As reported by earlier this week, an open hole drill stem test over the interval 3,125 to 3,660 meters measured depth in the Al Meashar-1 well in Block 7, Yemen, commenced on March 18.

The well has continued to flow oil, gas and drilling fluids to surface at unstabilized rates of approximately 200 barrels of oil per day and 100 barrels of drilling fluid per day and is still cleaning up. The testing program is ongoing. Al Meashar-1 is targeting fractured basement rock in a structure defined by a 3D survey acquired in 2008.

AWE Managing Director, Bruce Wood said, "While it is still early in the evaluation of the Al Meashar-1 well, the signs remain encouraging with oil flowing at surface from the fractured basement.

"This discovery is only 20 kilometers from the infrastructure at the large Habban oil field, which will potentially assist in commercialization studies."