View larger version of Map pdf SeismicInterpretation of the Sprigg Extension 3D Seismic Survey acquired in 2005/2006 covering the western and northern areas of the Candra Dome has been completed. The Acrasia South 1 oil prospect has been mapped 600 metres southwest of Acrasia 2. All leads and prospects in Stuart's Cooper/Eromanga Basin Licences have been evaluated and ranked to allow selection of the best ten drilling targets. Licence ManagementThe PEL 90 licence has been renewed with a reduction in the area of 33% for a 5 year term commencing 30 October, 2007. The licence conditions are that there will be two guaranteed wells drilled, one in year 3 and one in year 4 with Geological and Geophysical studies being conducted for years 1, 2 and 5. The Acrasia South well will be the Year 3 guaranteed well. Discoveries and PotentialThis licence area contains the Acrasia oil field, the Reg Sprigg West oilfield and the Kiwi gas field. The licence presently contains 12 oil prospects, 23 gas prospects and 3 oil and gas prospects. Un-risked mean recoverable oil reserves in the prospects total 12 million barrels. Un-risked mean recoverable gas reserves in the prospects total 136 billion cubic feet. Licence Commitments
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