AWE to Start Drilling North Perth Basin Gas Well in June

Titan Energy has announced that AWE Ltd, its joint venture partner in EP455 in the North Perth Basin, Western Australia has received conditional approval for their Drover-01 Exploration Well Environment Plan.

According to Titan, AWE will start drilling in June 2014.

“We are further encouraged by this news to commence the drilling of Drover #1 within EP455 that will bring us closer to our potential involvement with a world class asset. REA-Deloitte’s independent assessment of the Prospective Resources in EP455 being in excess of 2.3 trillion cubic feet of natural gas highlights the potential,” Titan Energy’s Chairman, Darren Levy, said.

The drilling program is estimated to take approximately 30 days after which the well will be evaluated before progressing with the stimulation phase.

Titan Energy holds an 18.5% non-operating Working Interest, and AWE holds the remaining 81.5% in EP455.