Release: AWE: Lisah-1 drilling update

(12 February 2008)--During the week, the Lisah-1 well was drilled to a total measured depth of 2,615 metres. Hydrocarbon shows have been observed in the well while drilling and open hole wireline logs are currently being prepared to evaluate these shows.

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.

AWE Ltd managing director Bruce Wood said:
?AWE is encouraged by the presence of hydrocarbon shows at Lisah, but remains cautious with regard to their significance.

?The results of the wireline logs will define the forward path for the well. These results will be announced when they become available.?

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)