AWE Limited (ASX: AWE) provides the following information relating to 2P Reserves and 2C Contingent Resources for the Waitsia gas field (50% owned, Operator) following completion of an independent review by Perth-based RISC Operations Pty Ltd (RISC). The Waitsia gas field is located in onshore Permit L1/L2, northern Perth Basin, Western Australia.
The review and evaluation undertaken by RISC concluded that 2P Reserves for the Waitsia gas field were 78% higher than AWE’s previous estimate as at 30 June 2017. The RISC work is consistent with AWE’s current internal view of Waitsia Reserves, which will be finalised when the current flow test program and subsequent analysis and evaluation work are complete. AWE anticipates issuing a further update before the end of 2017.
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