Ann: Hydrocarbons Encountered in SM58 011 Well, page-2

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SM58 Update: Hydrocarbons Encountered in SM58 011 Well Byron operated SM58 011 has logged hydrocarbons in the O Sand LWD logging tools indicate a gross thickness of 300 feet measured depth (300TVT) of hydrocarbons SM58 011 will be drilled to total depth before additional logs are runByron Energy Limited (“Byron” or the “Company”) (ASX: BYE) is very pleased to announce as of 1700 Hours US Central Daylight Time on 25 August 2019, the Byron Energy operated SM58 011 well has been drilled to a depth of 10,875 feet Measured Depth (“MD”), equivalent to 9.832 feet True Vertical Depth (“TVD”), and has encountered hydrocarbons in the target O Sand section. At the current time, the well is drilling ahead prior to acquiring further electrical logs.The target O Sand was encountered at a depth of 10,435 feet MD (9,340 TVD) in line with predrill expectations. Logging While Drilling (“LWD”) Gamma Ray and Resistivity tools and Mudlog shows indicate the presence of hydrocarbons beginning at the top of the O Sand to the current drill depth of 10,875 feet MD. Preliminary pay counts based on LWD logs indicate a total of 300 feet MD (300 feet True Vertical Thickness) gross thickness of hydrocarbon with no evidence of water seen to this depth. Based on LWD logs, the O Sand appears to be a very high quality and well developed reservoir.