Artemis 3D seismic increases prospect potential

New 3D seismic data along with new biostratigraphic age dating has resulted in the interpretation of a thicker Jurassic reservoir in the Artemis prospect offshore Australia, according to MEO Australia.

Offshore staff

MELBOURNE, Australia -- New 3D seismic data along with new biostratigraphic age dating has resulted in the interpretation of a thicker Jurassic reservoir in the Artemis prospect offshore Australia, according to MEO Australia.

As a result of the data, the company has increased the P50 gas-in-place estimate to 20.3 tcf for the Calypso and Legendre reservoirs. Applying a 60% recovery factor yields an estimated P50 undiscovered gas resource of approximately 12 tcf, the company says.

MEO is assessing prospective farm-in partners to secure funding in order to trigger the permit’s year-five well obligation by Dec. 31.

10/13/2009

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