• Drilling of the West Erregulla-3 exploration/appraisal well in EP469, onshore Perth Basin, has commenced
• The well is targeting multiple formations in the undrilled Northern Area of the West Erregulla Gas Field
• Warrego’s estimated geological probability of success for West Erregulla-3 is 65%

Warrego Energy Limited and JV partner, Strike Energy Limited, spudded the first well in the JV's 2020/21 drilling campaign, West Erregulla-3. An independent, third party review of the West Erregulla gas field by RISC Advisory Pty Ltd (“RISC”)¹ estimated that the undrilled Northern Area may contain gross Prospective Resources of 102 Bscf of gas in addition to the 513 Bscf of gross 2C Contingent Resources certified in the Central Area.

WE-3 is located in the Northern Area of the West Erregulla Gas Field in EP469, onshore Perth Basin, and is being drilled with the upgraded Ensign 970 drilling rig.

The planned Total Depth (TD) of the WE-3 well is approx. 4,950m. Primary targets are the Kingia and High Cliff Sandstone formations, with secondary targets in the Dongara and Wagina formations. Warrego’s estimated geological probability of success for WE-3, supported by RISC, is 65%². If successful, the well is expected to be flow tested shortly after completion.

WE-3 is the first well of the 2020/21 drilling campaign which may include up to two more wells. WE-4 is likely to be drilled in Q1 of 2021, subject to approvals, and a decision on whether to drill WE-5 will be made prior to the end of November 2020.

[1] Announced to the ASX on 18 May 2020
[2] Announced to the ASX on 16 June 2020