Project Profile
Estimated Gas in Place: 21 trillion cubic feet
Location: Galilee Basin
WestSide has secure a significant foothold in Queensland’s coal-rich Galilee Basin through the acquisition of 100 per cent interests in two new exploration tenements, ATP 974P and ATP 978P. The company\'s Meridian SeamGas joint venture partner Mitsui has farmed in to earn a 49 per cent interest in both tenements.
The company will target CSG within the two tenements which cover a combined area of 14,480 km2 in the north-western part of the Galilee Basin.
WestSide believes the area could contain up to 21 trillion cubic feet of gas in place (10.7 tcf net to WestSide) and reviewed geological and geophysical studies within the two tenements as a precursor to commencement of exploratory drilling.
The targeted Bandana Formation coal seams typically contain between 13m and 17m of coal.
WestSide has completed reprocessing and reinterpretation of data sets from two seismic lines in ATP 974P to generate one drill target. All other planned wells in the first phase program will be pure “grassroots exploration”.
Cultural heritage and landholder negotiations have been initiated in conjunction with planning to initially drill two exploration wells in each tenement during the second half of FY2011.
Operators:
WestSide: Operator with 51% interest
Mitsui E&P Australia: 49% interest