AWE, the Operator of Production Licences L1/L2 in the northern Perth Basin, Western Australia, advises that the Waitsia-4 appraisal well reached total depth (TD) of 3,744 m Measured Depth below Rotary Table (MDRT) at 15:30 hours (3.30 pm) AWST on 10 August 2017 and preparations are now being made to commence a wireline logging program.

TD was achieved in the Holmwood Shale after successfully intersecting all primary targets. Elevated gas shows were encountered in multiple zones in the Kingia and High Cliff intervals and their significance will be evaluated during the wireline logging phase. Good gas shows were also encountered in the Irwin River Coal Measures, a secondary target.

Waitsia-4 was spudded on 10 July 2017 and is designed to appraise the gas potential in the eastern extension of the Waitsia Field. The well will be logged and, if the results are positive, it will be completed as a production well and a flow test may be performed. Waitsia-4 is the last appraisal well planned for the Waitsia field in 2017.

The Waitsia-4 appraisal well is located approximately 18.5 km south-east of Dongara, Western Australia, and 3.3 km north-northeast of Waitsia-3. The approved work program for the Waitsia-4 appraisal well does not include hydraulic fracture stimulation.

The Joint Venture partners in L1/L2 are:

AWE Limited (via subsidiaries) (Operator) 50.0%

Origin Energy Limited (via subsidiaries) 50.0%

About the Waitsia gas field

The northern Perth Basin has been one of Western Australia’s major gas producing regions for more than 50 years. Discovered in September 2014, the Waitsia field is regarded as the largest onshore conventional gas discovery in Australia for the last 30 years and has the capability to supply the domestic market with 100 TJ/d for 10 years from conventional reservoirs.