HDR hardman resources limited

Late trading

  1. 36 Posts.
    Why the big late trades last night: AUSTRALIAN WORLDWIDE EXPLORATION LIMITED (AWE)
    Announced on: 16/10/2002 12:23:50
    Part: A
    Words: 337
    Status: Not market sensitive (N)
    Related Companies: VICTORIA PETROLEUM NL, VOYAGER ENERGY LIMITED, PANCONTINENTAL OIL & GAS NL, HARDMAN RESOURCES LIMITED, ORIGIN ENERGY LIMITED (VPE,VOY,PCL,HDR,ORG)



    --------------------------------------------------------------------------------

    AUSTRALIAN WORLDWIDE EXPLORATION LIMITED 2002-10-16 ASX-SIGNAL-G

    HOMEX - Sydney

    +++++++++++++++++++++++++
    Australian Worldwide Exploration Limited, on behalf of its
    wholly-owned subsidiary, AWE (Perth Basin) Pty Ltd, ("AWE"), advises
    that, as at 0900 hours EST on 16 October, the Jingemia-1 exploration
    well was drilling ahead at 2,021 metres. The primary target is
    prognosed at a depth of approximately 2,275 metres, which on a
    trouble free basis should be reached in the next three days.

    During the week, 1,214 metres were drilled. Jingemia-1 is located in
    EP 413 onshore in the northern Perth Basin, approximately 5
    kilometres southwest of the Hovea oil and gas field and 24 kilometres
    south of Dongara.

    The well is being drilled to test a fault dependent closure, similar
    in structural style to the Hovea Oil Field, and will target the
    Dongara Sandstone confirmed as oil bearing at Hovea 1 and 3 and the
    High Cliff Sandstone confirmed as gas bearing at Hovea 2. The
    structure has the potential to contain 10-30 million barrels of oil
    in place at the Dongara sandstone level. Prognosed total depth for
    the well is 2,785 metres.

    Jingemia-1 is the first of a number of wells in the northern Perth
    Basin in which AWE will participate in the next 5 months. Others
    include appraisal of the Cliff Head oil discovery and the Mentelle
    and Twin Lions exploration wells, all situated in shallow waters,
    nearshore and to the west of Jingemia-1.

    Participants in EP 413 and Jingemia-1 are as follows:

    AWE (Perth Basin) Pty Ltd 15.245%
    Origin Energy Developments Pty Limited 49.189%
    Hardman Oil and Gas Pty Ltd 22.376%
    Victoria Petroleum NL 5.7685%
    Voyager Energy Limited 5.7685%
    Pancontinental Oil & Gas NL 1.278%
    Alan Robert Burns 0.233%
    John Kevin Geary 0.142%

    For further information please contact Mr Bruce Phillips
    (Phone: (02) 9460 0165 or Fax: (02) 9460 0176)
    Email: [email protected] Website: www.awexp.com.au


    A copy of the full announcement, including Map is available in PDF
    format on www.asx.com.au. Alternatively it is available for purchase
    from ASX Customer Service on 1 300 300 279.

 
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