Project Profile
Location: 14 km offshore, VIC/P57 permit area, Georgina Basin, Australia
Reserves (gross contingent resources (2C)): of 9.2 million barrels of oil
Water Depth: 30 metres
Area: 483 sq km
The Sea Lion prospect is situated in permit VIC/P57 offshore Australia. 3D Oil Limited operates the permit with a 29.9% stake, with Hibiscus Petroleum holding 50.1% and the remaining 20% interest is held by Rex International. The permit area is 14 km offshore in 30 metres of water and includes a discovery for which Gaffney Cline & Associates identifies, in a Resources Statement dated Feb 2011, gross contingent resources (2C) of 9.2 million barrels of oil, based on previous exploration and appraisal drilling, in one field of the permit area. Sea Lion is located to the west of the West Seahorse oil field, on an extension of the oil fairway. It is a simple structural closure against the Rosedale fault with the potential for oil at multiple levels. The operator plans to explore the prospect, which most likely has recoverable volumes assessed at around 20 MMstb, but there is potential for greater volumes if hydrocarbons are confirmed at multiple levels.
Operators:
3D Oil: Operator with 29.9% interest
Rex International: 20% interest
Hibiscus Petroleum: 50.1% interest
Contractor:
Gaffney Cline & Associates: Resource estimation studies
Origin Energy Resources Ltd: Rig share agreement for the drilling of an exploration well located in VIC/P57 offshore Australia. The agreement intends to drill two wells prior to handing over the rig to CHPL
Benthic: Contract for an offshore geotechnical investigation in the Sea Lion field offshore southeastern Australia in the Bass Strait. Operating from a client-issued vessel, Benthic’s portable remotely operated drill PROD1 will perform rotary drilling and piston coring, and in situ testing using a piezo-cone penetrometer. The aim is to identify the prospect’s seabed ground conditions for a well to be drilled by a jackup.