Australia: Hervey-1 Well Reaches Total Depth

Icon Energy provided an update in relation to the drilling program in ATP 855, located in the Cooper Basin, Queensland. Since the last drilling update on 3 July 2013, the Hervey – 1 well has been drilled through the Patchawarra Formation to a total depth of 4 ,269 metres.

Drilling of the Keppel – 1 well has reached a depth of 3 , 897 metres. Results from both wells are encouraging with gas shows in the sections penetrated to date. Subject to receiving the necessary approvals the Joint Venture plans to commence drilling the next well, Geoffrey – 1 later in July using the Ensign 61 5 rig once it has been released from the Hervey – 1 well.

These wells are located to appraise the extent of the basin centred gas discovery to confirm the extent of the gas saturation in the Permian sedimentary section in ATP855.

The Nappamerri Trough is a potential world class gas asset and is the most advanced shale gas province in Australia to date.

Interests in ATP 855P: Icon Energy 35.1%, Beach Energy 46.9% (Operator) and Chevron Australia 18%.