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Latest AWE Limited News

• The joint venture is targeting to restart production from Yolla in July, with project commissioning and completion during the September Quarter.

• The side-tracked well is planned to be drilled to an expected total measured depth of 2,380 metres.
• The Evandra-1 well, drilled in 2005 did not intersect the Dongara reservoir, with the prognosed reservoir interpreted to have been faulted out at the well location.

• Confirmed the availability of equipment to AWE for the hydraulic fracture stimulation of three wells in the onshore North Perth Basin.
• Program is scheduled to commence in June, 2012.

• Norwest Energy advises that the hydraulic fracture stimulation program for the Arrowsmith-2 well (permit EP413, northern Perth Basin) is now locked in.

• AWE has identified significant potential for shale gas and tight gas in the onshore Perth Basin and now looks forward to working with all stakeholders, including the government and local communities, to test this potential.

• AWE Limited announce that the transaction to acquire a 100% interest and operatorship of two Production Sharing Contracts offshore Indonesia has been completed.

• AWE implemented a number of key strategic initiatives, including the sale of part of the Company's interest in the BassGas Project, the payment of a special dividend to shareholders, and the acquisition of growth assets in offshore Indonesia.

• AWE Limited announce that it has executed a Sale and Purchase Agreement with a subsidiary of Genting Berhad.

• AWE sells an 11.25% interest in T/L1 and 2.75% interest in T/18P in the Bass Basin to Toyota Tsusho Gas E&P Trefoil for A$80.125 million.
• AWE announces special dividend of 5 cps to shareholders.

• AWE has reported the execution of a rig contract for the drilling of the Atlas-1 well. This well will be drilled in the Titan PSC, which is located in the offshore East Java Basin, Indonesia.
• The Atlas well will target a sizable gas prospect, located approx. 35 kms north east of the Lengo gas discovery, which tested gas at rates of 12.8 million cubic feet per day from the discovery well in 2008.
• On the current schedule, the Atlas-1 well is expected to be drilled in March, 2012.

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