Release: AWE: Lisah-1 drilling update

(31 January 2007)--The Lisah-1 well which commenced drilling operations on January 23 has now installed 20? casing at 168 metres and 13 3/8? casing at 489 metres. The forward program as of today is to drill ahead to next casing point at approximately 1,585 metres.

Lisah-1 is being drilled in the Bulu Production Sharing Contract (PSC) in the offshore Java Sea, approximately 90 kilometres north of Surabaya, East Java, in 60 metres water depth. The well has a planned total depth of 3,200 metres.

Lisah-1 is the first of a two-well exploration program in the Bulu PSC, and will be followed by Lengo-1.

Participants in the Bulu Production Sharing Contract are: Australian Worldwide Exploration Limited (AWE) 42.5%, Aabar Petroleum Investments Company PJSC (Operator) 42.5%, PT Satria Energindo 10.0% and PT Satria Wijaya Kusuma 5.0%. (end of release)