AWE reports that at 0600 hours today, the rig was preparing to run BOP’s after having drilled to 657 metres and having set 13 3/8" casing. Progress for the week was 76 metres.

The Henry-2 pilot well is designed to confirm the quality, thickness and structural elevation of the Waarre "A" Sandstone gas reservoir intersected in the Henry-1 discovery well which is located about 3.5km SE of this pilot hole. This well will be drilled to a planned total depth of 2,047 metres. The Henry-2 DW1 sidetracked development well will follow immediately after this pilot hole. Henry-2 is located in VIC/P 44, approximately 12 kilometres north west of the Casino gas field.

Henry-2 is the last well in the current drilling programme, and will develop the Henry field discovered by Henry 1 well in July 2005. Prior to the current well, the Pecten East-1 exploration well, Netherby-1 exploration well and Netherby-1 DW1 development well were drilled. Pecten East-1 was plugged and abandoned having encountered residual gas. Netherby-1 was a successful exploration well which was immediately followed by a successful development well Netherby-1 DW1.