AWE quarterly just released - see below in regards to Arrowsmith:
exploration permit EP413 (AWE 44.25%), operations at the Arrowsmith-2 well resumed in late August and testing is expected to continue for the remainder of calendar year 2013. The well was recompleted using 2 3/8 inch tubing, which greatly enhanced well clean up and flow back.
An initial comingled gas flow rate of 3.5 million scf/d was recorded on 18 September, and the well averaged 315,000 scf/d from 19 September to 17 October. The co-mingled flow back was achieved from the Caryngina formation, the Irwin River Coal Measures and the High Cliff Sandstones and was in line with expectations for a vertical well.
A 3D seismic survey is planned for the area around Arrowsmith-2 following the completion of the current phase of testing. The survey and flow test data will enable selection of the most appropriate zone for the placement of a possible horizontal well.
NWE Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held