Project Profile
Location: Vulcan Sub-basin, western Bonaparte Basin, Timor Sea, Western Australia
Area: 335 km²
Depth: 125-340 m
Start-up Year: -
Exploration Permit AC/P 61 is located in the Vulcan Sub-basin, western Bonaparte Basin in the Timor Sea, approximately 250 km offshore and 650 km from Darwin off the northwest coast of Western Australia. Exploration Permit AC/P 61 was given to Finder Exploration Pty. Ltd., on 23 June 2016. The Permit contains the Gem Prospect, an intra-graben Jabiru/Challis look-a-like horst block. The Gem Prospect has a Jurassic Oxfordian depth closure of up to 7.9 km² with some 190 metres of vertical relief. Other leads are identified within the Permit, such as the Douglas Updip Lead and a possible extension of the Tenacious oil field into the Permit.
There are also numerous oil discoveries in the surrounding area, including Tenacious oil field (yet to be developed) immediately to the west, the depleted Jabiru oil field immediately south of the Permit (which produced 120 mmbbls of oil) and the yet-to be-developed Audacious oil field to the east, Oliver oil and gas field to the north and the Cash/Maple gas field complex is 30 kilometres to the west of the Permit.
Four petroleum systems have been identified in the exploration permit.
- Tithonian fluvio-deltaic to basin floor fans sandstones of the Upper Vulcan Formation charged from Oxfordian to Kimmeridgian and Plover oil prone source rocks;
- Middle Jurassic fluvio-deltaic sandstones of the Plover Formation charged from Plover Formation source rocks;
- Lower Jurassic to uppermost Triassic fluvio-deltaic sandstones of the Nome Formation charged from Plover Formation source rocks; and
- Upper Triassic deltaic sandstones of the Pollard Formation charged from Plover Formation source rocks.
The Exploration Permit AC/P 61 is fully covered by the Onnia 3D seismic survey. A broadband pre-Stack Depth Migration reprocessing effort will include the adjacent offset well ties from the Oliver, Tenacious and Audacious oil and gas fields to deliver full Permit coverage.
Operators:
Finder Exploration Pty. Ltd.: 100% interest