Gulf Oil and Gas accountACCOUNT

3D Oil Limited Granted Renewal of Exploration Permit VIC/P57

Source: www.gulfoilandgas.com 3/7/2018, Location: Not categorized

3D Oil Limited (TDO) is pleased to advise that a renewal application for exploration permit VIC/P57 of the Gippsland Basin has been granted to the Carnarvon Hibiscus Pty Ltd (CHPL), Gippsland Hibiscus Pty Ltd (both wholly owned subsidiaries of Malaysian company Hibiscus Petroleum Berhad) and 3D Oil Joint Venture. The permit has been optimized to an area dense with high potential leads and prospects including at least one gas prospect.

VIC/P57 Prospectivity Review
A thorough prospectivity review conducted throughout the last 18 months has revealed that VIC/P57 contains significant remaining commercial potential. Six leads and prospects were identified, the highest value of these include the Felix and Pointer prospects.

Felix is a classic, low-risk Upper Latrobe Group oil and gas target, located between the Wirrah discovery and Moonfish field. The Pointer prospect is a Type II AVO supported gas prospect with a Best Estimate Prospective resource of 235 BCF. Pointer is optimally located to rapidly deliver gas to a starved east coast gas market. It is at shallow drilling depths (less than 2000m), situated in shallow water and close to existing infrastructure.

VIC/P57 Work Programme
The upcoming technical program is carefully designed to mature the Felix and Pointer prospects to drill-ready, while assessing the potential for additional gas prospectivity within the deep and poorly understood stratigraphy of the permit. As such, the minimum guaranteed work-program, to be fulfilled within the first three years of the Renewal Term includes 230km2 of modern, state-of-the-art seismic reprocessing accompanied by Geological and Geophysical studies. The purpose of the reprocessing will be three-fold;

1. To determine the most likely structural configuration and accurate oil & gas volume of the Felix Prospect,
2. Provide a clearer understanding of the Pointer AVO anomaly and,
3. Assess the Emperor sub-group stratigraphy (not able to be imaged adequately by the current dataset) for additional gas prospects.

Technological advances in processing techniques over the last six years should result in significantly improved data quality within VIC/P57. According to well-established service provider CGG, who are currently undertaking the Gippsland ReGeneration Reprocessing project, there are many areas of improvement that will undoubtedly result in enhanced imaging of the sub-surface. These techniques have recently been applied in the eastern Gippsland Basin, at the previously poorly understood Dory gas discovery. Broader bandwidth, less noise, a significantly improved velocity model and more sophisticated migration algorithms have resulted in a dramatic improvement in imaging compared with previous attempts. ExxonMobil are planning on drilling Hairtail-1 and Bald Fish-1 at the Dory prospect in Q3 2018.

It is thought that critical new insight may be extracted from reprocessed data within VIC/P57, ultimately leading to low-risk drilling targets.

Exploration News in Australia >>

China >>  3/23/2019 - Cassa depositi e prestiti Spa (CDP), Snam Spa (Snam) and Silk Road Fund Co., Ltd (SRF) have signed a memorandum of understanding (MoU) aiming at explo...
United States >>  3/22/2019 - Reabold is pleased to announce that Integrity Management Solutions ("IMS") has commenced drilling operations at the Burnett 2B well within the Monroe ...

Georgia >>  3/20/2019 - Block Energy Plc, the exploration and production company focused on the Republic of Georgia, reports that Total Drilled Depth ('TDD') has been reached...
Norway >>  3/19/2019 - The Norwegian Petroleum Directorate reports that, Aker BP, operator of production licence PL 869, has concluded the drilling of wildcat well 24/9-14 S...

Israel >>  3/14/2019 - Israelís offshore oil and gas licensing auction will go ahead as planned in June regardless of the outcome of the countryís upcoming general elections...
Angola >>  3/13/2019 - Eni announces a major oil discovery in Block 15/06, in the Agogo exploration prospect, in Angolaís deep water. The new discovery is estimated to conta...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.