Project Profile
Location: Browse Basin, 300km off the coast of north western Australia
Reserves: Unrisked gas-in-place highside resource estimate of about 7.8 TCF (Cronus)
Area: 2,170km²
Water depth: 450-1,330 metres
Start-up Year: -
AC/P52 exploration permit is located in the Browse basin of the NW shelf in Australia. Exploration Permit AC/P 52 was awarded to Finder in June 2009. The permit is located within Territory of Ashmore and Cartier Islands and is between the northern limits of highly prospective Browse Basin and the southern boundary of the Ashmore Platform, about 300km off the coast of north western Australia. The area lies directly west of Finder’s AC/P 36 exploration permit and approximately 25km north of the Argus gas field. Montara, Plover and Nome are the sandstone reservoir targets constrained by new 3D seismic data. Cronus has unrisked gas-in-place highside resource estimate of about 7.8 TCF at approximately 3,630 metres below mudline. A 517 km² of new multi-client pSDM 3D seismic data has confirmed Cronus as a “drill-ready” prospect (140 km² areal extent with 350 metres closure height). The permit covers a surface area of 2,170km² at water depth of 450-1,330 metres.
After government approval the operatorship will be as follows: -
Finder Exploration Pty Ltd – 20% participating interest
Sasol Australia Petroleum Ltd. – 30% participating interest
Shell Development (Australia) Pty Ltd (Operator) – 50% participating interest
Operators:
Finder Exploration & Operator: Operator with 55% interest
Sasol Petroleum Australia Limited: 45% interest