announcement out

ABN 61 005 632 315
Level 21
500 Collins Street
Melbourne Victoria 3000 Australia
Tel: +61 (0)3 8610 4702
Fax: +61 (0)3 8610 4799
Email: [email protected]
Website: www.octanex.com.au
GAWAIN-1, WA-362-P - EXMOUTH PLATEAU - PROGRESS REPORT No. 11
Octanex N.L. (ASX Code: OXX) has been advised by Eni Australia Limited, the Operator of the Gawain-1
well located in the outer Exmouth Plateau permit, WA-362-P, that the well has reached its total depth
(TD) of 3,963m MDRT (measured depth below rotary table).
Since the last progress report of 11 April 2011, when the well was at 3,778m MDRT, the 8?? hole has
been drilled to the TD and preparations are currently underway to run wireline logs prior to the well being
plugged and abandoned.
No hydrocarbons were encountered in drilling the final section from 3,778m to TD.
The Gawain-1 well was drilled by the Saipem 10000 drillship and is the first well in a two well
programme. The drillship will now move to the location of the Galahad-1 well to be drilled in WA-363-P.
The Octanex Group holds a 20% participating interest in the WA-362-P and WA-363-P permits and
this interest has been free carried through the drilling of Gawain-1 and will also be free carried through
the Galahad-1 well.
The participants in the WA-362-P and WA-363-P Joint Ventures are:
Eni Australia Limited 40%
OMV Australia Pty Ltd 40%
Octanex Group 20%
By Order of the Board
J.G. Tuohy
Company Secretary
13 April 2011