attn jswood;re: 45 meter oil column??? Dont u have access to...

attn jswood;re: 45 meter oil column??? Dont u have access to ann???

AUSTRALIAN WORLDWIDE EXPLORATION LIMITED 2003-01-13 ASX-SIGNAL-G

HOMEX - Sydney

+++++++++++++++++++++++++
KEY POINTS

* The Cliff Head-3 ("CH-3") appraisal well, located in WA-286-P, in
the northern part of the offshore Perth Basin, Western Australia,
has reached a Total Depth of 1,408 metres below rotary table (m BRT)
(1,344 metres true vertical depth subsea ("TVDSS")). As of 0600 hours
Western Standard Time ("WST") logging was about to commence.
Preliminary interpretation of the data obtained while drilling
suggests that the well has encountered a gross vertical oil column in
the order of 45 metres. Net reservoir quality and extent will not be
known until logging is completed, probably during Tuesday, 14 January
2003. The oil-water contact in the well, as defined by the
distribution of oil shows seen while drilling, appears to be similar
to the contact established by Cliff Head-1 and Cliff Head-2 drilled
in December 2001/January 2002.

* CH-3 is the first of at least three and, possibly, as many as nine
(including planned significant sidetracks) exploration and appraisal
wells to be drilled during 1Q03 in WA-286-P and the adjacent TP/15.
The wells will be drilled on a back-to-back basis within, and on
trend from, the Cliff Head Oil Field, which is located in WA-286-P.

1. UPDATE ON OPERATIONS SINCE 6 JANUARY 2003

The operator for and on behalf of the WA-286-P Joint Venture, advises
that the CH-3 appraisal well has been drilled as a near vertical hole
to a Total Depth of 1,408m BRT (1,344 metres TVDSS). Drill data,
specifically the distribution of oil shows, suggests that the well
may have encountered a gross vertical oil column in the order of
45 metres, the base of which is at a similar depth to the oil-water
contact established in the two previous Cliff Head wells drilled
twelve months ago.

As at 0600 hours WST on 13 January 2003, the operation at CH-3 was
preparing to run logs. The log information is expected to be
available tomorrow. Until then it would be premature to comment on
the quality or extent of any net oil pay.

2. GENERAL COMMENTS

The CH-3 surface location is 2.4km northwest of the bottom hole
location of the Cliff Head-2 well, the sidetracked well drilled as an
immediate follow-up to the Cliff Head-1 discovery made on 29 December
2001. CH-3 was drilled to a bottom hole position, approximately 250
metres southwest of the current surface location, to evaluate the
reservoir potential of the upthrown fault block in the northern part
of the Cliff Head Oil Field.

3. JOINT VENTURE DETAILS

The WA-286-P Joint Venture comprises:

EQUITY

Roc Oil (WA) Pty Ltd (Operator) 30.0%
AWE Oil (Western Australia) Pty Ltd 27.5%
Wandoo Petroleum Pty Ltd 25.0%
ARC Energy NL 7.5%
Voyager Energy Limited 5.0%
Westranch Holdings Pty Ltd (a subsidiary
of Norwest Energy NL) 5.0%

The TP/15 Joint Venture comprises:

EQUITY

Hardman Oil & Gas Pty Ltd 30.0%
AWE Oil (Perth Basin) Pty Ltd 25.0%
Roc Oil (WA) Pty Ltd (Operator) 20.0%
Westranch Holdings Pty Ltd (a subsidiary
of Norwest Energy NL) 10.0%
ARC Energy NL 5.0%
Voyager Energy Limited 5.0%
Bounty Oil and Gas NL 5.0%

For further details contact Bruce Phillips on 0417 218 711

A full copy of the announcement, which includes the Perth Basin
Prospects and Leads Map, is available in PDF format on
www.asx.com.au. Alternatively it is available for purchase from ASX
Customer Service on 1 300 300 279.