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flow test update

  1. auscan

    495 posts.
    Cliff Head 3 Appraisal Well Update

    NORWEST ENERGY NL 2003-01-24 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Norwest Energy NL advises that as of 6am [Western Standard Time]
    today the test string was being run in the Cliff Head 3 appraisal
    well. It is now expected the well will be flow tested this evening.

    Production testing is designed to provide information of the
    reservoir flow characteristics. Subsequent to testing Cliff Head 3,
    and regardless of the results of the test, the well will be plugged
    and abandoned as planned.

    Cliff Head 3 is the first of at least 3 exploration and appraisal
    wells to be drilled by the Ensco 53 jack up during the 1st Quarter
    2003 in both WA-286-P and adjacent TP/15. A number of contingent
    wells are planned depending upon the results of the firm drilling
    programme. As such the total number of wells to be drilled will be
    determined as the programme progresses.

    Following drilling of the Cliff Head 3 appraisal well, the Ensco 53
    Jack up drilling rig is scheduled to drill Twin Lions 1 in the
    adjacent TP/15 permit. The Twin Lions structure is situated about 5
    kilometres to the north-northeast of the Cliff Head Oil Field and is
    geologically similar, forming part of the same trend.

    If Twin Lions 1 is successful, it is likely that a second well will
    be directionally drilled from the number 1 location to test the
    extent of any hydrocarbons westward into WA-286-P.

    FIRM WELLS

    WELL PERMIT POTENTIAL EQUITY
    (mm bbl in place)

    Cliff Head 3 WA-286-P 80-100 5.0%
    Twin Lions 1 TP/15 360 10.0%*
    Mentelle 1 WA-286-P 50 5.0%

    * paying 20% plus testing capped

    Please Note: Norwest plans daily report during the drilling of these
    wells and hence will keep the market fully appraised.

    The WA-286-P Joint Venture comprises:

    EQUITY

    Westranch Holdings Pty Ltd (a subsidiary
    of Norwest Energy NL) 5.0%
    Roc Oil (WA) Pty Ltd (Operator) 30.0%
    AWE Oil (Western Australia) Pty Ltd 27.5%
    Wandoo Petroleum Pty Ltd 25.0%
    ARC Energy NL 7.5%
    Voyager Energy Limited 5.0%

    The TP/15 Joint Venture comprises:

    EQUITY

    Westranch Holdings Pty Ltd (a subsidiary
    of Norwest Energy NL) 10.0%
    Hardman Oil & Gas Pty Ltd 30.0%
    AWE Oil (Perth Basin) Pty Ltd 25.0%
    Roc Oil (WA) Pty Ltd (Operator) 20.0%
    ARC Energy NL 5.0%
    Voyager Energy Limited 5.0%
    Bounty Oil and Gas NL 5.0%

    I Burgess
    CHIEF EXECUTIVE OFFICER AND DIRECTOR

    For further information, please contact:
    Ivan Burgess CEO/Director
    Ph: 08-9228 8251
    E-mail: [email protected]
    Web Site: www.norwestenergy.com.au

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