DRILLING

Leafcutter-1 underway

The partners in the Woodada Gas Field have begun drilling the Leafcutter-1 oil exploration well.

Leafcutter-1 will test the upthrown block of the Beagle Ridge west of the Woodada Gas Field, of which the primary target is the Permian High Cliff Sandstone at a depth of about 1,315m.

Secondary targets include sandstones within the Irwin River Coal Measures and a sandstone and/or limestone within the Carynginia Formation. The objectives have never been tested by drilling from Beagle Ridge within the onshore Woodada license area.

The well is located 8km west of the Woodada-19 gas production well within the Woodada Production Licence (L4), 260km north of Perth, Western Australia.

The well is being drilled by the 100% Hardman owned Logue Rig starting on August 24th. Participants in the Leafcutter-1 well are Bounty Oil & Gas 25% Hardman Resources (operator) 75%.

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