| Canning Basin - Onshore Lennard Shelf Western Australia
EP104 / R1 (10%) |
Joint Venture partners: Buru Energy (32.95% and Operator), Emerald Gas Limited (18.75%), Gulliver Productions Pty Ltd (14.8%), Phoenix Resources Plc (10%) First Australian Resources Limited (8%), Indigo Oil Pty Ltd (5.5%)
The EP104 permit is located 20km north of Derby in Western Australia's Kimberley Region.
The permit area is on the Lennard Shelf of the Canning Basin, known for oil discoveries such as Blina and Sundown. The basin has rich source rocks and good quality reservoir rocks, but is largely under-explored.
Renewed testing of the Stokes Bay 1 well was carried out in November 2010 using a coiled tubing unit (CTU). Saline water was recovered and this is interpreted to be formation fluid. No oil or gas was recovered during the test.
The joint venture will now undertake an examination of the prospectivity of the licence areas and plan a new forward exploration programme.
Petroleum Retention Lease R1 was renewed by the Minister of Mines and Petroleum of Western Australia for a period of five years from 8 November 2010.
