Project Profile
Value: Undisclosed
Location: Surat Basin
Potential Mean Recoverable Oil Reserves: 12 million barrels (mmstb)
Area: 31sq km
Start-up Year: -
Blue Energy has identified a large untested conventional structural trap within the southern part of the Surat Basin permit ATP854P following the company’s normal technical review process of existing data within the permit. Named the Marburg Prospect, this feature has been mapped using different vintage pre-existing seismic data and adjacent well data. The mapping has resulted in the delineation of structural closure with 35 metres of vertical relief and over an area of approx. 31sq km. The location of the Marburg Prospect is immediately adjacent to the basin bounding fault which separates the Taroom Trough from the Roma Shelf area. The principal targets for this conventional play are the Precipice and Boxvale Sandstones, which are productive in the Moonie, Alton and New Royal Oil fields to the south.Importantly, the Rosewood 1 well, drilled in 1962, identified free oil in cuttings and core taken from the Precipice Sandstone, which when tested by open hole drill stem test (DST) recovered water with traces of oil. The Rosewood 1 well was subsequently plugged and abandoned. Based on Blue Energy’s latest geophysical mapping, the Rosewood 1 well was drilled demonstrably outside of structural closure, and the Marburg Prospect is located entirely up dip of the Rosewood 1 test.Volumetric estimation of potential mean recoverable oil reserves for the Marburg Prospect is 12 million barrels (mmstb). The volumetric range of reserves is assessed (internally) to be 1.9 mmstb (P90) to 29 .3 mmstb (P10). Blue Energy has also assessed the chance of success of this oil exploration prospect at approx. 13% on the drilling and testing of the Marburg 1 well. The company will retain operatorship, and assuming a successful and timely farm out, land access and appropriate rig availability, the Marburg well is expected to spud in the third quarter of 2013.
Operators:
Blue Energy: Operator with 100% interest