the action about to start

Preparing to move to Twin Lions 1

Document date: Fri 31 Jan 2003 Published: Fri 31 Jan 2003 10:48:43
Document No: 231686 Document part: A
Market Flag: Y
Classification: Progress Report
NORWEST ENERGY NL 2003-01-31 ASX-SIGNAL-G

HOMEX - Perth

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Norwest Energy NL advises that as of 6am [Western Standard Time]
today the Ensco 53 jack up drilling rig was nearing release from the
Cliff Head 3 location in WA-286-P, in the offshore Perth Basin, after
successfully testing the Permian sandstone reservoir at a previously
advised rate of 3,000 BOPD.

On release, which is expected today, the rig will move about 8
kilometres to the north [see map], where it will drill the Twin Lions
1 exploration well in the adjacent TP/15 permit.

Twin Lions 1 is expected to commence drilling over the weekend of 1st
2nd February 2003 and will be drilled as a vertical hole to a total
depth of 1,540 metres subsea. The Twin Lions Prospect straddles the
boundary between TP/15 and WA-286-P. As mapped, Twin Lions is the
largest prospect in the region of the Cliff Head Oil Field and has
the potential to contain up to 370 million barrels of oil in place.

The Twin Lions structure is situated about 5 kilometres to the
north-northeast of the Cliff Head Oil Field and is geologically
similar, forming part of the same trend.

If Twin Lions 1 is successful, it is likely that a second well will
be directionally drilled from the number 1 location to test the
extent of any hydrocarbons westward into WA-286-P