AWE halts the second phase of the Drover-1 exploration program
AWE Limited (ASX: AWE), as operator of exploration permit 455 in the Perth Basin, Western Australia, advises that after consultation with joint venturepartner, Titan Energy Limited (ASX: TTE), it will not proceed with phase 2 of the Drover-1 exploration program and will not hydraulically fracture stimulatethe well.
Results from the diagnostic fracture injection test (DFIT), completed in April 2015, and analysis of the core samples and wireline data taken in 2014 have provided sufficient information for AWE’s assessment of the shale gas potential in the southern extent of its Perth Basin acreage and no further work is required at this location. The Drover-1 exploration well will now be decommissioned and rehabilitated back to its pre-existing state.
Drover-1 is located on pastoral land in the Shire of Coorow, approximately 18 km southeast of Green Head and 220 km north of Perth, and was designed to test the unconventional gas potential in the far southern extent of AWE’s Perth Basin acreage. The joint venture has applied to renew Exploration Permit 455 and is awaiting regulatory approval.
The joint venture partners in EP455 are:
- AWE Limited (via subsidiaries) (Operator) 81.50%
- Titan Energy Limited 18.50%
Edited from various sources by Louise Mulhall