ORIGIN ENERGY LIMITED — Capital/Financing Update 2015

Oct 6, 2015

ASX Announcement 7 October 2015

Waitsia-1 flows gas at 24.7 mmscf/d from first zone

• Flow testing the first of two zones in the onshore Waitsia-1 well has commenced

• High Cliff Sandstone achieves a flow rate of 24.7 mmscf/d, constrained by tubing size

AWE Limited (ASX: AWE), Operator of the L1/L2 joint venture, today announced it had commenced the flow testing program for the Waitsia-1 well to further appraise the conventional Waitsia gas discovery in the onshore Perth Basin, Western Australia.

The testing program is designed to determine well deliverability from two conventional reservoir zones and to collect gas samples for compositional analysis. The first zone being flow tested is the deeper High Cliff Sandstone, where a 23.5 metre interval (3,382 – 3,405.5 metres) has been perforated.

Well clean-up operations commenced at approximately 15:00 hours AWST (Australian Western Standard Time) on Monday 5[th] October. On Tuesday 6[th] October, at the end of a 7 hour clean up period, the well flowed gas at an average rate of 24.7 mmscf/d, constrained by tubing size, on a 60/64 inch choke at ~1330 psig flowing well head pressure over a 1 hour period.

AWE’s Managing Director, Bruce Clement, said:

“This is an excellent result and confirms the production potential of the conventional High Cliff Sandstone in the field. We now have two successful well tests at Senecio-3 and Waitsia-1, and we are moving forward confidently with our plans for the first stage of development”.

The Waitsia-1 well will now be shut in for a brief pressure build-up survey prior to a series of flow tests at various choke settings, rates and well head pressures.

Following completion of testing on the High Cliff Sandstone, it is planned to set a plug to isolate the lower interval prior to commencing testing of the Kingia Sandstone. A similar well test program will be conducted on a 15 metre interval (3,333 – 3,348 metres) in the Kingia Formation.

The testing program is expected to be completed by the end of November. The Waitsia-1 appraisal well is located on agricultural land approximately 3 km east of the Senecio-3 well and 17 km east of Dongara, Western Australia.

The Joint Venture partners in L1/L2 are:

AWE Limited (via subsidiaries) (Operator) 50.0% Origin Energy Resources Limited 50.0%

AWE LIMITED LEVEL 16, 40 MOUNT STREET NORTH SYDNEY NSW 2060 AUSTRALIA P +61 2 8912 8000 F +61 2 9460 0176 E awe@awexplore.com ABN 70 077 897 440 www.awexplore.com

For information please see our website www.awexplore.com or contact:

Investor Relations Media Enquiries Matthew Sullivan Ian Howarth AWE Limited Collins St Media 02 8912 8022 03 9600 1979 Matthew.sullivan@awexplore.com ian@collinsstreetmedia.com.au

About AWE Limited

AWE Limited is an Australian based energy company focused on upstream oil and gas and related energy opportunities. Established in 1997 and listed on the ASX, the Company is headquartered in Sydney, Australia, with international operating offices in New Zealand and Indonesia. AWE has built a substantial portfolio of production, development and exploration assets in Australia, New Zealand, USA, Indonesia and China. With its strong technical base and disciplined financial management, AWE will continue to pursue exploration, appraisal and development growth opportunities in Australasia and Asia.

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