Project Profile
Location: Bowen/Surat Basin, Queensland
Area: 90 sq km (PL 280)
Recoverable reserves: 3.7 - 6.4 million barrels (remaining)
Licence award: August 2010
Licence duration: 21 years
PL 18, PL 40, and PL 280 are located in the Bowen/Surat Basin in Queensland Australia . This basin was home to the first oil discovery in Australia, and is currently the focus of significant coal-seam gas exploration and production activity.
Previous oil discoveries were made in PL 280 in the McWhirter and Beardmore fields with estimated recoverable oil up to 600,000 barrels and 800,000 barrels, respectively. The McWhirter No.1 well is currently shut in due to uneconomic production rate decrease (30 bpd).
Operator:
Longreach Oil: Operator with 50% interest
Brisbane Petroleum Ltd. (BPL): 50% interest (unlisted company)
*Longreach Oil has 20% interest shareholding in Brisbane Petroleum Ltd.