Drilling of Xanadu-1 to commence in September second half Martin Kovacs, 13 Jul 2017

Norwest Energy has advised that the spud date for the Xanadu-1 well, in TP/15 in the Western Australian northern Perth Basin, has been scheduled for the second half of September.

Norwest advised that the drilling program is set to commence after the completion of AWE's Waitsia field two-well program, with Xanadu-1 to be drilled using Enerdrill Rig 3, stating that due to the status of regulatory approvals, it “is now confident to forecast the spud date, with preparations to drill being accelerated to meet this drilling timeslot”.

Norwest stated that long-lead items have been acquired, with it in the process of finalising contract award for all services required for the drilling program.

“I am pleased to have put together a package that provides for a fully funded Xanadu-1 well, together with a free-carried interest for Norwest shareholders,” Norwest CEO Shelley Robertson commented. “This is an outstanding achievement given the very difficult current market.

“We announced in late-2016 we would drill this well in 2017, and I am pleased we can now deliver on that promise, with an anticipated spud date in the back half of September. We at Norwest believe a positive discovery here, combined with the success of AWE’s prolific Waitsia gas discovery, will bring much greater focus to the region.

“Xanadu-1 is one of just three wells to be drilled in the Perth Basin this year, and in our view represents a rare opportunity for investors to participate in a significant drilling event. Success at Xanadu will be seen as a game-changer for Norwest shareholders.”

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