AWE Starts Drilling Offshore Indonesia

AWE Limited reports that the Liyun-1 well started drilling at 1845 hours (Indonesian time) on June 17, 2010. At 0600 hours today, the well was running and cementing 20” casing at a measured depth of 86 metres.

Liyun-1 is an exploration well in the Bulu Production Sharing Contract, which is located in the East Java Basin, offshore Indonesia.

The Liyun-1 well has a planned total depth of approximately 2,570 metres.

The well is being drilled approximately 35 kilometres offshore in a water depth of approximately 55 metres. Liyun-1 is targeting the oil potential of the Kujung I reef carbonates, currently producing in acreage to the east of the Bulu Production Sharing Contract.

The participants in the Bulu Production Sharing Contract are:

AWE Limited 42.5%

Pearl Oil (Satria) Ltd (Operator) 42.5%

PT Satria Energindo 10.0%

PT Satria Wijaya Kusuma 5.0%

[mappress]

Source: Awexplore, June 18, 2010