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Santos successfully spuds appraisal well in Northwest Natuna PSC

JAKARTA ( – Australia’s oil and gas company AWE Limited (ASX: AWE) said that the operator of the Northwest Natuna PSC, Santos Limited (ASX: STO), has confirmed that the AAL-4X appraisal well was spudded successfully at 20:00 hours (8.00pm) AEDT on 14 May 2016.

As at 09:00 hours (9.00am) AEDT Monday 16 May, the well was at 200 meters Total Vertical Depth Sub Sea (TVDSS) in a 24 inch hole. The AAL-4X well will be drilled to a planned maximum total depth of 1,232 meters TVDSS and is forecast to take approximately 48 days to complete. The well is being drilled in water depth of approximately 72 meters using the Raniworo jack-up drilling rig.

The Northwest Natuna PSC is located offshore Indonesia and includes the Ande Ande Lumut (AAL) oil project. The AAL project comprises the K Sand reservoir (101 million barrels gross recoverable oil, net 24.3 million barrels of 2P Reserves to AWE) and the underlying G Sand reservoir.

The AAL-4X appraisal well is targeting the G Sand reservoir, which is estimated to contain 289 million barrels gross oil in place with 36 million barrels gross recoverable oil (net 10 million barrels 2C Resources to AWE).

AWE said the appraisal of the G Sand will facilitate the preparation of Plan of Development (PoD)for this resource, which could be developed in conjunction with the already approved K Sand development.

The Joint Venture partners in the Northwest Natuna PSC are:
AWE Limited (via subsidiaries) 50.00%
Santos Limited (Operator) 50.00%


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