🕐04.08.14 - 05:54 Uhr

REAL ENERGY [ASX:RLE] - COOPER BASIN DRILLING PROGRAM TO COMMENCE IN SEPTEMBER





Fortbridge Media Release

Real Energy [ASX:RLE] - Cooper Basin Drilling Program to Commence in September

Cooper Basin focused oil and gas exploration company Real Energy Corporation Limited (ASX:RLE) is pleased to advise that it has signed a contract with Ensign International to commence drilling at its 100 per cent-owned ATP927P exploration permit in the Cooper Basin in early September 2014.

Highlights:

* Real executes drilling contract with Ensign International� drilling to commence in ATP927P
* Preparation of field operations has commenced
* Contract signed for one firm well with option for two additional wells
* Drilling campaign seeks to confirm presence of gas in Toolachee and Patchawarra formations
* Real well placed to unlock significant value in its prospective Cooper Basin acreage

A contract has been signed for Rig 916 with one firm well and an option for two additional wells. Drilling of the Tamarama-1 well is expected to commence in early September 2014 with two additional wells in the region, Avalon-1 and the West Flynnes-1, scheduled for drilling subject to the results of Tamarama-1 (for well locations, refer to Figure 1 from the attachment). ATP 927P is surrounded by proven and producing gas and oil fields operated by Santos, and gas production is being used to feed growing demand for east coast gas.

Results from the initial drilling program will underpin Real�s forward work plan, with successful wells to be cased and suspended for flow testing in early 2015. Real Energys acreage is prospective for basin centred gas (BCG), conventional oil and shale oil and gas. This upcoming drilling program will test the presence of BCG within ATP927P. An Independent Geologist�s report prepared for Real Energy estimated that the Permian section in ATP927P and ATP917P contains approximately 10.2TCF of BCG.

As one of the few independent companies with substantial 100%-owned acreage in the Cooper Basin, we are ideally placed to take advantage of the significant unlocked value that prospects in the Basin hold, Real Energy�s Managing Director, Scott Brown said.

To view the full announcement please refer to the attachment.

For further information please contact:

Scott Brown
Managing Director
+61 2 9955 4008

For media and investor inquiries, please contact:

Fortbridge Consulting: + 612 9003 0477

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