UPDATE ON OPERATIONS AT KOWALIK #1H Aurora Oil & Gas (“Aurora”) is pleased to provide the market with an update on operations at the Kowalik #1H well within the Sugarloaf AMI, which is part of the Sugarkane Gas and Condensate Field. Kowalik #1H Aurora has been advised by the operator, Texas Crude Energy Inc (“TCEI”), that as of 06:00hrs 02/09/08 (US CST) the production casing has been run and cemented at a measured depth of 11,861 ft. The preparations and rig up on surface for the reservoir section has also been completed and the drilling assembly was being run in the hole to commence drilling the final build section into the target chalk. The horizontal section is targeting the upper pay interval that has been reported as successfully producing gas and condensate in three wells in the adjacent acreage. The Joint Venture is working towards this being the first in a continuous sequence of 4 wells.
ADI Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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