AWE Limited reports that the Atlas-1 exploration well commenced drilling at 1930 hours (local time) on May 30, 2012. At 0600 hours Thursday, the well was drilling ahead at a measured depth of 1,017 feet (310 meters).

Atlas-1 is an exploration well designed to test the gas potential of a carbonate reservoir sequence that, together with the nearby Lengo gas discovery, could contain up to 1 Trillion cubic feet of recoverable sales gas. The well is planned to be drilled to a total measured depth of approximately 2,526 feet (770 meters). The water depth at the Atlas location is approximately 230 feet (70 meters).

Tags: AWE Limited