ann out: caprock update, page-2

Full Announcement:

POOLE #C-1 WELL UPDATE

Australian oil and gas company Titan Energy Ltd (ASX: TTE) (Titan Energy or the Company) is pleased to provide an update on drilling activities related to the Poole #C-1 “cap rock” well at its Allen Dome oil field in Texas.
Progress to date has been significantly affected by severe weather conditions in the region over the past few days and is currently at a depth of 378 feet where contractors are waiting for the inclement weather to clear to allow for the safe installation of surface casing.

Once the surface casing is cemented in place and tested, the Poole #C-1 well will be drilled to its pre-drill planned Total Depth of 850 feet.

Poole #C-1 well is located on the southern portion of the Allen Dome salt dome where Titan holds an approximately 85% WI.

If successful the well has the potential to add a further 20+ barrels of oil per day (bopd) to Titan Energy’s Allen Dome production.

The Company is also continuing planning for a follow-up cap-rock well, Poole #C-2, which has similar parameters to the current well.