New Zealand: AWE Reports Tui SW-2 Suspended as a Future Gas Injection Well

AWE Limited advises that the Tui SW-2 exploration well has been suspended as a future gas injection well.

Since the last report, the 7” liner was run and cemented and the well was suspended as a future gas injector. At 0600 hours (NZ time) today, anchor handling operations were in progress. The rig will now move to the Kahu-1 location, approximately 2 kilometres east of the Tui oil field.

Following the drilling of Kahu-1, Tuatara-1 will follow as the fourth exploration well in the current AWE-operated campaign.

Participants in Tui SW-2, Kahu-1 and PMP 38158 are:

AWE Limited (Operator) 42.5%

Mitsui E&P Australia Pty Limited 35.0%

Stewart Petroleum Co Limited (NZOG) 12.5%

WM Petroleum Limited (PPP) 10.0%

AWE Limited is an Australian based oil and gas exploration and production company. AWE was recently admitted to the prestigious ASX 100 Index. AWE currently has oil and gas interests in Australia, New Zealand, Indonesia, Yemen and Argentina, and is actively reviewing additional growth opportunities.

[mappress]

Source: Awexplore, June 24, 2010;