CONDENSATE DISCOVERY WITH FUTURE EXPLORATION TARGETS
Operator | ~75% WI
1,111 MMBO Unrisked net mean prospective oil resources1,2
- Charlie-1 well confirmed large condensate discovery in the Torok formation in both Middle Stellar and Lower Stellar targets
- Charlie-1 discovery well drilled in 2020 recovered hydrocarbons during wireline operations with an API gravity between high-40 to low-50 (Torok formation)
- Petrophysical interpretation indicated hydrocarbon pay in both Torok and Seabee
- Unsuccessful attempt was made to take a sample from the Lower Lima target;
– Unsuccessful due to insufficient reservoir quality
– Targets were not intersected optimally, there is good potential for higher quality reservoir at a different location
- Targeting a follow-up appraisal well in future years post any successful flow test in Project Phoenix
- Lima Complex Prospect, Seabee Formation, is the same play type (but slightly older) and expected oil type as the Basin Floor Fan in Project Phoenix
|PROSPECTIVE OIL RESOURCE (UNRISKED)
|Stellar Fan 1-6
|TOTAL PROSPECTIVE OIL RESOURCE
1. Net Entitlement to 88E. Refer ASX release dated 10 November 2020 for full details with respect to the Prospective Resource estimate, associated risking and Cautionary Statement below.
2. Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.