| Canning Basin - Onshore Lennard Shelf Western Australia
EP104 (10%) |
Joint Venture partners: Arc 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.
A number of prospects and leads have been identified. The JV is focused on the Stokes Bay No.1 well to test the potential of the Point Torment Prospect. The well was spudded by Arc in 2007 and requires further testing to determine the presence of hydrocarbons.
Pancontinental has contributed 10.67% of the drilling costs to increase its interest from 8% to 10%.
