ASX: NWE 30 August 2012 Arrowsmith-2 Weekly Project Update 5 • Continuing to clean up and flow back Stages 3 & 4 - Carynginia Formation with the well continuing to consistently produce gas and return injected fluids to surface. • Currently preparing for Stage 5 – hydraulic fracture stimulation of the Kockatea Shale. Norwest Energy (ASX:NWE) is continuing to clean up and flow back Stages 3 & 4 of the Arrowsmith-2 program – the Carynginia Formation, with satisfactory progress to date. Current status is that the well is continuing to consistently produce gas and return injected fluids to surface under its own energy. Preparations for Stage 5 of the program are now underway – hydraulic fracture stimulation of the Kockatea Shale over the interval 2639 – 2681m. The primary technical objectives of the program have been met on the first four stages by demonstrating that hydraulic fracture stimulation will produce gas to surface in the zones being evaluated. Each of the formations stimulated and flowed back to date (the High Cliff Sandstone, Irwin River Coal Measures and Carynginia Formation) demonstrate the necessary indicators for ongoing evaluation. Norwest will continue to release a weekly update each Thursday for the duration of the activities on site, with operations expected to continue for another 1to 2 weeks.
NWE Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held