| Carnarvon Basin - Onshore/Offshore Barrow Dampier Sub-basin Western Australia
EP110 & EP424 (38.462%) |
Joint Venture partner: Strike Oil Ltd (61.538% and Operator)
EP110 & EP424 in the Carnarvon Basin have an onshore/offshore area of 3,869 sq. km. Two main leads have been identified: the Baniyas Prospect with potential for 34 MmBbls (P10) and Up-dip Jasper Prospect (possibly 2-10 MmBbls). These potential reserves remain speculative until the prospects have been evaluated by drilling.
Baniyas lies in an established oil producing trend in the Carnarvon Basin adjacent to the Roller, Saladin and Skate oil fields. The crest of the Baniyas feature has anomalous seismic amplitudes, consistent with the presence of gas-over-oil or gas-over-water, although it is possible that other factors may be responsible for the anomaly.
Pancontinental increased its working interest from 25% to 38.462% in March 2010.
The Company is currently seeking to divest itself of these projects.
