Be prepared for tomorrow - it's a gamble we all know that, if it does not play in our favour tomorrow find relief in this info from last Quarterly: map of Dunnart and related field and this very good reading
Check the oil migration pathways on below map !
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EP437 EXPLORATIONAND PROSPECTIVITY REVIEW
Exploration technical studies of the permit and surrounding area have been conducted in order
to identify further prospects for drilling.
The focus in the Perth Basin has been on shallow oil prospects that can be drilled with a small rig
capable of drilling up to 1,000 metres and identifying a series of prospects that can be part of a
targeted campaign after the 2014 exploration program.
During the quarter it was announced that the
Company was discussing a flexible five slot
turnkey drilling contract with DCA for the use of
Rig 7 from June 2014 to January 2015. This
potential strategic agreement will provide for
one firm well to be drilled with the option of four
additional wells subject to approvals and
financing.
Exploration and appraisal wells (follow-up
wells) currently identified include Dunnart-3
and Wye Knot-1 in addition to a number of
prospects including Condor South and up-dip
Wattle Grove.
The Wye Knot prospect is a three way dip
closed anticline with a fault seal and is located
approximately 10km west of the Mount Horner
oilfield up-dip from the Dongara oil and gas
field.
Wye Knot-1 will target a best estimate prospective resource estimate of 5 million barrels2.
The drilling of Wye Knot-1 would assess the Jurassic,
Triassic and Permian oil objectives down-dip from the
Wye-1 discovery well, which encountered gas in the
Triassic Bookara sandstone (the same sandstone
targeted in Dunnart-2) and gas in the Permian Wagina
Sandstone. Good hydrocarbon shows were also
encountered in the younger Jurassic sands and in the
Aranoo sands within the Kockatea Shale.
Very tight High Cliff to Nangetty sandstones below the
base Kockatea were also penetrated in Wye-1. The
seismic cross section from mapping (see next page)
demonstrates the crossing of a fault into Early Permian
sediments near basement. The tight nature of these
sediments is likely due to the proximity to basement
and exposure to silica rich fluids from basement in
conjunction with high geothermal gradient on the
Northampton Block to the north.
2 As
REY Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
KEY Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
(20min delay)
