Indonesia: AWE Abandons Atlas-1 Well

AWE Limited reports that at 0600 hours today (local time) the Atlas-1 exploration well, located offshore Indonesia, was at a measured depth of 613 metres.

Gas samples collected from the well contain a high percentage of carbon dioxide, and the joint venture has decided to plug and abandon the well at the current total depth.

The Atlas-1 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.

Participants in the Titan PSC are:

AWE Limited (via subsidiaries) (Operator) 40.0%

Baruna Oil and Gas Ltd 25.0%

Mitra Energy (Indonesia Titan) Ltd 25.0%

PT. Sillo Maritime Perdana 10.0%

[mappress]
Source: Awe Limited, June 12, 2012