Project Profile
Location: Canning Basin, Western Australia
Exploration start up: 2011
Permits EP 431, EP 390, EP 438, EP 471 and EP 473 lie in this region. The principal play types in these permits are the Nita Carbonates and the Acacia sandstones with Ordovician aged source rocks. Previous drilling on the Pictor structure has confirmed the presence of producible gas and light oil from this system. The play type is believed to extend over a wide area. Mapping of the Pictor structure has delineated a location, Pictor East-1, that is a candidate for the 2011 drilling program. Horizontal drilling is being considered to potentially enhance oil and gas flow rates. Buru Energy and Mitsubishi Corp both have a 25% equity interest in the well and in EP 390 with Apache having the remaining 50% equity interest. Key holds a 20% interest in EP 438 and is partnered by Buru Energy and Mitsubishi Corporation on 37.5% each and Indigo Oil with the remaining 5% equity.
Operators:
EP 438
Buru Energy: 37.5% interest in EP 438
Mitsubishi Corp.: 37.5% interest in EP 438
Key Petroleum: 20% interest in EP 438
Indigo Oil: 5% interest in EP 438
EP 390
Buru Energy: 25% interest in EP 390
Mitsubishi Corp.: 25% interest in EP 390
Macquarie Capital & Brookfield Asset Management : 50% interest in EP 390