Projects in Australia
Australia – Onshore Perth Basin
EP – 447 Walyering Conventional Gas Field, rights to earn 70% and operatorship.
This asset has been acquired consistent with strategy and is assessed by the Company to be a “left-behind” gas field with considerable upside to that currently recognised by the industry.
The Walyering Convnentional Gas Field is one of a number of early gas discoveries by basin pioneer WAPET in the late 1960’s and early 1970’s. The largest was the Dongara Gas Field (+400 Bcf) that provided the original gas supply to industry and domestic users in Perth, the capital city of Western Australia.
When the Dongara Field in the very north of the Basin was developed, the Parmelia Pipeline was diverted to tie in, enroute South to Perth, the Walyering and Gin Gin gas discoveries respectively. Both these fields, due to well completions in limited reservoir compartments, depleted quickly and were shut in. Subsequently in the late 2000’s the Gin Gin field, covered by 3D seismic, was the subject of further appraisal and development drilling and now produces some 9 MMcf/d of gas with condensate.
Pancontinental believes that with better definition by 3D seismic the Walyering Field will prove to have gas reserves larger than those being produced at Gin Gin. The Company is in the process of upgrading its estimates of the net resource potential.
Gas System and Play Characteristics
- Conventional sandstone reservoirs of Jurassic age
- Wet gas, becoming more liquids rich with depth
- Project accessing wet gas-mature Jurassic source rocks
- Faulted anticline broken into numerous compartments but the largest has not been drilled
- Gas discovered and produced under natural flow to surface from 3 wells drilled on the east and west flanks of the large anticline structure
- Good modern drilling techniques the key
- Gas trunkline and main highway run across the structure
Planned Work Program
Permitting activities, involving environmental and heritage surveys for a 90km² 3D seismic survey are progressing. By securing the seismic permit, Pancontinental will have the right to acquire 70% and Operatorship of the Walyering Gas Field by acquiring a 3D seismic survey, commencing prior to the end of 2018.
Recoverable gas resources being reassessed positively and will be published in due course.
If all goes to plan, seismic acquisition would commence during the dry weather period between March and June 2018.
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