AWE’s Yolla-4 well results andupcoming testing...

AWE’s Yolla-4 well results and
upcoming testing programme
Australian Worldwide Exploration Limited, on behalf of its wholly owned subsidiary AWE Petroleum
Pty Ltd (“AWE”), reports that as at 6:00am (Eastern Standard Time) on 19 July, Yolla-4 was
running and cementing 6-5/8” liner, after completing logging operations.
Preliminary interpretation of the wireline logs and pressure data indicates that Yolla-4
encountered 3 main gas zones in the Eastern View Coal Measures, as anticipated. These
intervals, between 2,882 – 2,914 metres, 2,962 – 2,985 metres and 3,149 – 3,165 metres (all
measured depths (md)), confirmed that reservoir quality is excellent. Two cores were cut
through the sequence, between 2,982.02 - 2,919.60 metres and 2,958.07 – 2,985.37 metres
(md).
A shallower interval between 2,458 – 2,467 metres also encountered hydrocarbon shows, as
reported to the ASX on 6 July. The interval was confirmed to be a small oil zone, which will be
completed for future testing.
The reservoir net pay encountered at Yolla-4 was slightly less than the pre-drill expectations;
however, the porosity and permeability measured in the core and via wireline logs was greater
than expected. In addition, the well encountered a thin oil zone, which was a positive surprise
within the well.
Following running and cementing the liner, the joint venture intends to perforate and complete
the 3 main gas bearing sandstone reservoirs and the upper oil zone. Production tests will be
conducted on all zones post completion. These results will be released to the ASX at the end of
each test. The joint venture expects that the testing programme will be completed by the end of Ju;y.....Regs H.....