NWE 2.94% 3.3¢ norwest energy nl

plug and abandon

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    NORWEST ENERGY NL 2003-02-27 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    Norwest Energy advises that, as at 1100 hours Western Standard Time
    ("WST"), on 26 th February 2003, the Ensco 53 drilling rig had
    completed logging operations and was commencing plug and abandonment
    of the Vindara 1 exploration well. Evaluation logging, conducted
    during the last two days, established that, although there were oil
    shows in a few poor quality sands below the regional seal, no
    moveable hydrocarbons were encountered.

    The Ensco 53 drilling rig will move this week to the location of the
    Cliff Head-4 appraisal well located approximately one kilometer to
    the southeast of the recently drilled Cliff Head 3 well. Cliff Head 4
    is programmed as a vertical well to be drilled to a depth of about
    1,386 metres below the Rotary Table.

    FIRM WELLS

    WELL PERMIT POTENTIAL EQUITY
    (MM BBL IN PLACE)

    Cliff Head 3 WA-286-P 80-100 5.0% flowed 3,000BOPD
    Twin Lions 1 TP/15 10.0%* plugged and abandoned
    Mentelle 1 WA-286-P 5.0% non commercial oil shows
    Vindara 1 WA-286-P 5.0% oil shows in poor quality reservoir
    Cliff Head 4 WA-286-P 5.0% Next well

    * 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%


    Ivan Burgess
    CHIEF EXECUTIVE OFFICER AND DIRECTOR

    For further information, please contact:
 
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