Project Profile
Location: Carnarvon Basin, in onshore/offshore Barrow Dampier Sub-basin, Western Australia
Reserves: Baniyas Prospect - 34 MmBbls and Up-dip Jasper Prospect – 2 to 10 MmBbls
Area: 3,869 sq. km
EP110 & EP424 are two exploration licenses in the Carnarvon Basin, in onshore/offshore Barrow Dampier Sub-basin in Western Australia. The licenses cover an area of 3,869 sq. km. Two main leads have been identified: the Baniyas Prospect with potential for 34 MmBbls (P10) and Up-dip Jasper Prospect (possibly 2-10 MmBbls). These potential reserves remain speculative until the prospects have been evaluated by drilling. Baniyas lies in an established oil producing trend in the Carnarvon Basin adjacent to the Roller, Saladin and Skate oil fields. The crest of the Baniyas feature has anomalous seismic amplitudes, consistent with the presence of gas-over-oil or gas-over-water, although it is possible that other factors may be responsible for the anomaly. Pancontinental increased its working interest in the two exploration licenses from 25% to 38.462% in March 2010, while its joint venture partner is Strike Oil Ltd with 61.538%, which is also the operator.
Operators:
Strike Oil Ltd: Operator with 61.538% interest
Pancontinental Oil & Gas NL: 38.462% interest