AWE Starts Atlas-1 Drilling, Offshore Indonesia

Awe Starts Atlas-1 Drilling, Offshore Indonesia

AWE Limited reports that the Atlas-1 exploration well commenced drilling at 1930 hours (local time) on 30 May, 2012. At 0600 hours today, the well was drilling ahead at a measured depth of 310 metres.

Atlas-1 is an exploration well designed to test the gas potential of a carbonate reservoir sequence that, together with the nearby Lengo gas discovery, could contain up to 1 Trillion cubic feet of recoverable sales gas. The well is planned to be  drilled to a total measured depth of approximately 770 metres. The water depth at the Atlas location is approximately 70 metres.

The well is located within the Titan Production Sharing Contract (“PSC”) in the offshore East Java Basin, Indonesia. The well is located approximately 35 kilometres north east of the Lengo gas discovery, which tested gas at rates of up to 12.8  million cubic feet per day when drilled in 2008.

Source: AWE Limited, May 31, 2012