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Oil and Gas Energy News Update

Friday, August 26, 2011

AWE Updates Activities in Perth Basin

- AWE Updates Activities in Perth Basin

Friday, August 26, 2011
AWE Ltd.

AWE advised that preparations have continued for the planned hydraulic stimulation activities in the onshore Perth Basin. Preparation works on the Woodada Deep-1 and Arrowsmith-2 wells have been completed, and the final preparatory workover activities on the Senecio-1 well are now under way.

As previously advised to ASX, these stimulation activities are planned to proceed in the September quarter, subject to the receipt of all regulatory approvals.

Currently, the Woodada Deep and Arrowsmith activities have been referred to the Western Australian Environmental Protection Agency and a decision is expected in September.

The forward program for operational activities will be dependent on the receipt of these final regulatory approvals and the availability of the stimulation equipment, which is currently located at Dongara, in the Perth Basin. Given the current delays in the receipt of these approvals, there is a risk the stimulation equipment may not be available to commence this work in the September quarter.

AWE will advise further on this timing and the progress towards the stimulations when further information is made available from the regulators.

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