Tui, I like your comments and they compliment the Pro-active report just out for AWE as follows:
(Note - I have bolded and underlined the news that the new well is to the east of the first well - closer to our permit!) Nice!
AWE Limited (ASX:AWE) has started flow testing of the Senecio-3 well to further appraise the Waitsia gas discovery in the onshore Perth Basin, Western Australia.
Waitsia has Best Estimate Contingent Resources of 290 billion cubic feet.
The testing program is designed to determine well deliverability from two conventional reservoir zones and to collect gas samples for compositional analysis.
The first zone being flow tested is the secondary target in the deeper High Cliff Sandstone, where a 5 metre interval has been perforated and well clean-up operations are in progress.
Following completion of testing on the High Cliff Sandstone, it is planned to set a plug to isolate the lower interval prior to commencing testing of the primary target in the upper Kingia Sandstone.
The testing program is expected to be completed by mid-April, and results from the flow testing will be provided after testing on each of the zones has been completed.
Further appraisal of the Waitsia field is planned in late May with the drilling of the Waitsia-1 well, 3 kilometres to the east of Senecio-3 in L1/L2.
This well will follow the planned Irwin-1 exploration well in EP320 (operated by AWE under an agency agreement with joint venture partner, Origin Energy) that is scheduled to spud in late March.
Irwin-1 will target multiple reservoir objectives including the Kingia and High Cliff Sandstones approximately 6 kilometres east of the Senecio-Waitsia Fields.
AWE has a 50% interest in the L1/L2 permit. The remaining 50% is held by Origin Energy (ASX:ORG)."
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.
NWE Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
