AWE announces outstanding results from Waitsia flow test
Monday, Oct 23, 2017
AWE Limited (ASX: AWE), the Operator of Production Licences L1/L2 in the onshore Perth Basin, Western Australia, today announced it had commenced flow testing the Waitsia-3 well to further appraise the conventional Waitsia gas discovery.

The testing program is designed to determine well deliverability from the southern extent of the Waitsia field and to collect gas samples for compositional analysis. The zone being flow tested is the Kingia Sandstone, where a 42 metre interval (3,248 metres to 3,290 metres Measured Depth Below Rotary Table) has been perforated.

Well clean-up operations commenced at approximately 17:00 hours AWST (Australian Western Standard Time) on Wednesday 18 October 2017. On Thursday 19 October, at the end of a 7 hour clean up period, the well flowed gas at an instantaneous maximum rate of 50 million standard cubic feet per day (MMscf/d) and an average of 49.5 MMscf/d on an 80/64 inch choke at ~1,929 psig flowing well head pressure over a 2.6 hour period.

AWE’s CEO and Managing Director, David Biggs, said:

This is another extremely positive result and demonstrates once more the outstanding conventional reservoir properties of the Waitsia field. This result also provides further confidence in the field deliverability as we move toward a Final Investment Decision for Stage 2 of the Waitsia gas project.

The Waitsia-3 well will now be shut in for a brief pressure build-up survey prior to a series of flow tests at various choke settings, rates and well head pressures. Following the Waitsia-3 flow test, AWE will also test the Waitsia-2 and Waitsia-4 wells. The testing program is expected to be completed by the end of November 2017.

Waitsia-3 is located approximately 19.8 kilometres east-south-east of Dongara, Western Australia, and 10.8 kilometres south of Waitsia-1.

The Joint Venture partners in L1/L2 are:

AWE Limited (via subsidiaries) (Operator) 50.0%
Origin Energy Limited (via Lattice Energy) 50.0%

About the Waitsia gas field

The northern Perth Basin has been one of Western Australia’s major gas producing regions for more than 50 years. Discovered in September 2014, the Waitsia field is regarded as the largest onshore conventional gas discovery in Australia for the last 40 years and has the capability to supply the domestic market with 100 TJ/d for over 10 years from conventional reservoirs.

About AWE Limited.

AWE Limited is an independent, Australian energy company focused on upstream oil and gas opportunities. Established in 1997 and listed on the Australian Securities Exchange (ASX: AWE), the company is headquartered in Sydney with an office in Perth. AWE has a substantial portfolio of production, development and exploration assets in Australia, New Zealand, and Indonesia.

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