Project Profile
Location: eastern edge of the Cooper-Eromanga sedimentary basin, north-east of South Australia
Reserves: 400 Bcf of recoverable gas (over 300 Bcf net to Bridgeport)
Area: 316 km²
Start-up Year: -
ATP 560P is a lightly explored permit of prime petroleum acreage on the eastern edge of the Cooper-Eromanga sedimentary basin, north-east of South Australia operated by Bridgeport Energy. Of the 7 wells drilled within the permit boundaries, most were drilled in the decades prior to the 1990s when the seismic coverage and control was insufficient to accurately site exploration wells. Despite the poor exploration dataset on which these wells were located, numerous oil and gas shows have been recorded in the permit area. The occurrence of numerous oil fields in the region of ATP 560P attests to the excellent hydrocarbon-prone character of Bridgeport\'s acreage. The Company completed a 60 line km 2D seismic survey in December 2010 and the processed data is being used to define additional prospects and leads.
A coal seam gas (CSG) resource has been identified within ATP 560P. The resource potential for the area is in excess of 400 Bcf of recoverable gas (over 300 Bcf net to Bridgeport), with a majority residing in the permit area. Since this resource potential has been identified, the last 4 conventional wells drilled in the permits have carefully recorded coal content intersected within the Winton coal measures. The company now considers this resource to be worth further detailed evaluation. A future CSG well, with detailed coring and logging programs followed by gas content and permeability testing, will allow a refinement of the volumetric estimate of the CSG potential of the two asset areas. The Ubute-1 exploration well was drilled during November 2010. The well intersected good quality reservoir sand at several levels, but after no commercial hydrocarbons were encountered, the well was plugged and abandoned as a dry hole. The Ubute-1 well and the seismic acquired fulfilled the work commitment to the Queensland Government and the permit is in good standing. The previous term of ATP 560P expired on 30 November 2010. A renewal application was lodged with the Queensland Government to renew the permit with an exploration program of 100 line km of 2D seismic acquisition and the drilling of two exploration wells by 2013. As part of the renewal process 33.3% of the licence was nominated for relinquishment.
Operators:
Bridgeport Energy (Qld) Pty Ltd (BQ): Operator with 100% interest