26 April 2013DR11 DRILLING UPDATEHIGHLIGHTS:• Assessment...

26 April 2013
DR11 DRILLING UPDATE
HIGHLIGHTS:
• Assessment underway on Warradarge-1 drilling results after well was
unsuccessful in encountering hydrocarbons
Australian oil and gas company Titan Energy Ltd (ASX: TTE) (Titan Energy or the
Company) reports that it has elected to plug and abandon the Warradarge-1
exploration well after no hydrocarbons were encountered.
Warradarge-1 was drilled by Dominion Drilling Pty Ltd’s UDR 1500 HD rig to a Total
Depth (TD) of 1,560 metres (approx. 5,118 feet) in the DR11 permit in the onshore
North Perth Basin in Western Australia.
In line with pre-drill planning, wireline logs were run at a depth of 750m, while a
second set of logs was run to 1500m, following the cementing of the casing to 750m.
The Company also collected a number of samples during the drilling programme,
however no hydrocarbon indications were noted.
The well was successful in intersecting its pre-drill targets, the Cadda Formation and
Cattamarra Coal measures of the Jurrasic sediments.
The Company will now study all parts of the Warradarge-1 drilling programme as part
of its permit wide assessment of DR11 and any proposal to drill the Warradarge-2
exploration well in the licence.
“The results of the drilling of Warradarge-1 will provide important geological
information going forward as we continue to assess our plans for DR11. This
information will also be of value as we prepare for the proposed drilling of a well in
the nearby EP-455 permit where we hold an 18.5% interest,” Titan Energy Managing
Director, Steve Thomas, said.
ABOUT TITAN ENERGY
Western Australian-based Titan Energy Ltd (ASX: TTE) is a global oil and gas explorer
with growing interests in Australia and the United States.
Titan Energy is part of a global industry that has an important role to play in improving
the living standards of current and future generations through meeting the global
demand for petroleum in a socially responsible manner.— 2 —
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Titan Energy Ltd ABN 53 109 213 470
It holds a 100% interest in onshore North Perth Basin permit DR11 and an 18.5%
interest in North Perth Basin permit EP455, where AWE has farmed in.
The Company has also built up a significant onshore presence in the USA with
completed agreements to:
• Acquire Working Interest (WI) in 344 gross acres on the southern side of the
Allen Dome Salt Dome in Brazoria County, Texas;
• Acquire an approximate 94% WI in 276 acres of productive acreage on the
Northern flank of the Allen Dome;
• Acquire an approx.100% WI in 302 acres on the eastern flank of the Allen
Dome;
• Farm-in for an 80% Working Interest (WI) in the 1360 acre Sodbuster Prospect
in Logan County, Colorado;
• Acquire a 50% interest in the “ready-to-drill” approximately 129 acre
Greathouse Prospect, plus an option over an additional 123 acres, within the
South Lake Charles oil and gas field in Louisiana;
• Acquire 594.5 acresin the Kinmundy Prospect area in the Illinois Basin; and
• Acquire approximately 17,000 acres of prospective shale properties in the US
state of Nevada.
The Company continues to review additional projects that satisfy the Company’s
strategic objectives.
FOR FURTHER INFORMATION PLEASE CONTACT:
TITAN ENERGY LTD MEDIA: