AWE sees potential at Waitsia-1 well

Australia

SYDNEY, May 29, 2015 – Australian energy company AWE has reported that its Waitsia-1 well in the Perth Basin has found gas at a secondary target. The company reported on Friday that the Waitsia-1 appraisal well was at a depth of 2,931 metres and had intersected the Dongara sandstone at a depth of 2,743 metres with elevated levels of gas shows.

The well was spudded in mid May of this year and will take an estimated six weeks to complete. The purpose of this well is to rest for the gas potential in the larger Waitsia gasfield. AWE’s primary targets are conventional formations in the Kingia and High Cliff sandstones.

The Senecio-3 well put the Waitsia gasfield on the map in September 2014 when it was predicted that the well could be the largest onshore gas discovery in western Australia in 50 years. The company predicts that the gasfield has a contingent resource of 290 bcm with a potential up to 1.17 tcm.

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