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Exploration
This permit area has been renewed for the second five year portion of its 15 year life and is in the first year of the renewal period. An extra 25% of the original area was relinquished in exchange for a reduction from 4 to 2 wells in the number of commitment wells required in the first five-year licence period.
A gas prospect, updip of the Rogan 1 well, called Foxzami 1, will test a faulted stratigraphic trap over which inverted seismic data indicates the presence of gas filled sandstones in the Permian sequence. The Mentone oil prospect is located further updip from Rogan 1 and is located on the crest of the Packsaddle Ridge. P-impedence data derived from the processed seismic information has been used to map the Mentone structure.
Mentone 1 and Foxzami 1 are likely to be drilled in the first half of 2011.
Seismic
A quantitative interpretation (QI) analysis has been performed on a number of 2D seismic lines to test whether it is possible to detect gaseous hydrocarbons using the higher-fold 2D data. Contingent on the success of this method, further QI analysis will be performed on the seismic data in this gas-prone licence area.
Discoveries and Potential
This licence contains 3 oil prospects and 1 gas prospect.
Un-risked mean recoverable oil reserves in the prospects total 2.2 million barrels. The un-risked mean estimate for recoverable gas reserves is 10.4 billion cubic feet.
Licence Commitments
