great potential

I am not good at copying/pasting etc so if you want to see any charts go to the EPR website and view the reports. This information is all copied from EPR website and pasted ....

Essential Petroleum:

Essential Petroleum (EPR)listed on the ASX in early2001
• Exclusive focus on the Otway Basin
• Frontier basin with discovered reserves in excess of 1.7tcf
• EPR has large portfolio of highly prospective acreage
• Onshore - targeting small to medium oil and gas accumulations in known hydrocarbon provinces
• Offshore - targeting very large continental margin company
making oil and gas plays
• Unparalleled shareholder leverage with success

Prospects:

PEP 150
Oil recovered at Lindon 1
Exposure to Portland Trough and Ardonachie Trough

PEP 151
Ready to drill prospects
Numerous leads identified
Portland Trough oil potential
Potential resource exceeds 120 mmbbls

PEP 168 See Below

PEL 27
Oil play on the flank of Penola Trough
PEL 72
Waarre and Flaxman prospects
Modern seismic coverage
Prospects and leads could host as much as 100 bcf gas
VIC/P50
Deep water permit featuring large rotated fault blocks
Curie oil prospect has associated high amplitudes

Potential to host in excess of 650 mboe

VIC/P46
The permit offers opportunity for both oil and gas discoveries
Large structural closures with associated oil and gas prospects
Full coverage of modern
2D seismic
VIC/P46 Waarre
Large structural closures
at Waarre and Flaxman levels
Prospects with amplitude and AVO anomalies with hydrocarbon resource potential in excess of 3 tcf of gas
Prospects defined by modern 2D seismic

VIC/P46 Nullawarre
Several prospects defined by seismic attributes from modern seismic coverage
This buttress play has the combined resource potential of greater than 5 tcf gas

VIC/P46 Pebble Pt
Tertiary oil play in the offshore part of the Portland Trough
Brahe Prospect has the potential to be the first commercial oil discovery in the offshore Otway Basin
Potential to host as much as 100 million barrels oil

VIC/P46 Oligocene
Oligocene turbidite play with potential to host many millions of barrels of oil equivalent
Descartes is a large stratigraphic play with amplitude and AVO anomalies
Underlying Upper Cretaceous tilted fault block prospects facilitate turbidite test



Corporate Details
Share price $0.045
Shares on Issue 301M
Market cap. $13.6M
Cash $1.4M


Offshore Objectives
• Identify play fairways associated with the continental breakup in the Upper Cretaceous section of the Otway Basin.
• Acquire quality acreage and develop a strong prospects and leads inventory based on tilted fault block and low-stand fan plays proven elsewhere.
• Mature leads to prospect status and farmout interests on promoted terms while retaining significant interests.


Onshore Objectives

• Exploit the potential of the Port Campbell Embayment through a low cost,multiple well drilling program set to commence in the next 4 to 6 months
• Proximity to existing discoveries and infrastructure in the Port Campbell Embayment promote rapid development and enhance commercialviability.
• Use modern technologies to achieve sustainable commercial liquid flow rates and enhanced recovery of the resource at Killanoola.
• Generate early revenue from discovered resources through excellent infrastructure and access to markets in Victoria.

Near Field Leads and Prospects
McIntee Gas Field (see website)
South-east PEP 168 showing leads & prospects and priority work areas Seismic data shows improved amplitudes (brightness) over gas accumulations, and a corresponding dimming of amplitudes immediately below the gas. Essential Petroleum has used this feature to identify
numerous undrilled opportunities in the area




PEP 168
On 25 May 2007, Essential Petroleum announced to the ASX that it had won a keenly contested, competitive bidding process for the gazetted petroleum exploration permit PEP 168. The onshore permit is located in the Port Campbell gas province in the Otway Basin.
PEP168 is a highly prospective permit covering the onshore part of the Pecten High trend which hosts in excess of 400 bcf reported gas reserves in Waarre reservoir sands in the offshore Casino, Henry, Martha and Halladale fields.
As shown in Figure 1,(see the report on EPR website) PEP 168 surrounds and adjoins onshore gas fields which have produced in excess of 100 bcf from highly productive Waarre reservoir sands. Gas fields in the Port Campbell Embayment include the McIntee, Naylor, North Parratte and Iona fields.
The permit has an extensive modern 3D seismic data coverage obviating the need for any more seismic acquisition prior to drilling.
Essential Petroleum has identified untested prospects exhibiting the same seismic, direct hydrocarbon indicators as many of the nearby producing fields. This substantially increases the chance of making an early discovery in this highly prized permit.
The excellent infrastructure and access to markets in western Victoria ensure commercial viability, rapid development and early reward for discovered resources.
Essential Petroleum owns 50% of PEP 168 and is operator for the joint venture. Inland Oil Production Pty Ltd owns the other 50%.


Summary
• Essential Petroleum’s onshore tenements offer low cost exploration and development opportunities with a high chance of success.
• Market accessibility, rapid development and cost effective commercialization of onshore discoveries will lead to early revenue.
• The Discovery Bay High is as significant to the prospectivity of the central offshore Otway Basin as the Pecten High and Shipwreck Trough are in the east.
• EPR’s offshore prospects have the combined potential to host in excess of 5tcf of recoverable gas resource and 2 billion barrels of recoverable oil resource.
• A discovery in any one of Essential Petroleum’s offshore prospects, of the magnitude of its estimates would be a company maker.