AWE to drill in East Java basin

Offshore staff

NORTH SYDNEY, Australia – AWE (Titan) NZ Ltd. has contracted to drill the Atlas-1 well in the Titan PSC offshore East Java basin, Indonesia.

The well targets gas at about 35 km northeast of the Lengo gas discovery made in 2008, and is scheduled to start drilling in March 2012.

The participants in the Titan PSC are AWE Limited (via subsidiaries) (Operator) 40%; Baruna Oil and Gas Ltd, 25%; Mitra Energy (Indonesia Titan) Ltd, 25%; and PT. Sillo Maritime Perdana 10%.

11/15/2011