Project Profile
Location: Clarence Moreton Basin (CMB) adjacent to the border of New South Wales (NSW) and Queensland, Australia
Area: 2,741 square miles
Reserves: 3P and 2P gas reserves of approximately 2,500PJand 400PJ
PEL 445 covers an area of approximately 2,741 square miles and is located in the Clarence Moreton Basin (CMB) adjacent to the border of New South Wales (NSW) and Queensland in Australia. The CMB represents an extension of the productive Surat Basin into northeast NSW. In Metgasco\'s CMB license areas, which are of similar size to PEL 445, 3P and 2P gas reserves of approximately 2,500PJand 400PJ respectively have been booked. Dart Energy acquired New South Wales (NSW) Petroleum Exploration License (PEL 445) from Arrow Energy, a company owned by a 50:50 joint venture between Shell and PetroChina in February 2013.
Based on the work undertaken in the CMB to date by Arrow Energy and others, the basin is considered to be highly prospective for CSG as well as other unconventional and conventional gas deposits. Since November 2002, Arrow Energy has drilled 15 exploration wells. Exploration results indicate that the area contains significant gas resources, which are over-pressured, contain significant free gas, and are generally close to 100% saturation with gas composition regularly over 95% methane. Dart intends to undertake a detailed assessment of further exploration activities required to gain a better understanding of the area\'s potential in accordance with work commitments to the NSW government.
Operators:
Dart Energy: Operator with 100% interest