AWE Limited advised that at 0600 hours, the Tui SW-2 well was at a measured depth of 1573 meters after running and cementing 9-5/8" casing. The forward plan is to drill 8-1/2" hole to total depth.

The Tui SW prospect is located in mining license PMP 38158 in the offshore Taranaki Basin and is adjacent to the producing Tui oilfield.

The Tui SW-2 well is planned to be drilled to a total depth of approximately 3,725 meters. At the conclusion of drilling, Tui SW-2 will be cased and suspended as a possible future gas injection well.

Kahu-1, to the east of the Tui oilfield, will be drilled immediately following Tui SW-2. Tuatara-1 will follow as the fourth exploration well in the current AWE-operated campaign.

Participants in Tui SW-2 and PMP 38158 are:

•AWE Limited (Operator) 42.5% •Mitsui E&P Australia 35.0% •Stewart Petroleum (NZOG) 12.5% •WM Petroleum (PPP) 10.0%

Tags: AWE Limited