Carnarvon expands acreage bank over northwest Australia offshore play
Carnarvon Petroleum has secured a 100% interest in a new offshore exploration permit on Australia’s North West Shelf.
The WA-521-P permit is in the Roebuck basin, adjacent to the company’s Phoenix/Roc offshore acreage.
For the past five years Carnarvon has been studying the potential of the Lower Triassic petroleum system that it believes extends along the shelf’s entire length.
The company applied for the new permit for the following reasons:
1) The potential for the proven Lower Triassic petroleum systems and source rocks from the Phoenix and Roc area to extend into WA-521-P
2) Lower Triassic-generated hydrocarbons can directly charge into the overlying Jurassic Sands
3) Jurassic sands are sealed by regionally extensive Cretaceous shales
During the first three-year term of the permit the company has undertaken to purchase 4,000 km (2,485 mi) of reprocessed 2D seismic and to optionally acquire a 300-km (186-mi) 3D seismic survey during year 5 of the following discretionary three-year term.
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