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EP104 / R1 & L15

EP104 (Beneficial Interests)
Gulliver Productions Pty* (Operator) 89.23%
Indigo Oil Pty Ltd 10.77%
 
R1 (Beneficial Interests)
Gulliver Productions Pty* (Operator) 85.23%
Indigo Oil Pty Ltd 14.77%
 
L15
Gulliver Productions Pty Ltd* (Operator) 85.40%
Indigo Oil Pty Ltd 14.60%

*Gulliver Productions is a wholly owned subsidiary of Key Petroleum Limited

LOCATION

EP104, R1 and L15 is located approximately 20km northwest of Derby within the Lennard North Province in Western Australia's Canning Basin.

EXPLORATION POTENTIAL
  • Key Petroleum is the largest equity holder in the EP104 permit trend which includes Retention Lease 1 (R1) and Production Licence L15.
  • All permits within the trend are operated by Key.
  • EP104 has recently been renewed by the DMP.
  • Several leads have been interpreted from vintage 2D seismic data and current mapping has defined prospects both onshore and offshore across the entire trend.
  • There is both prospective and contingent resource in both the Lower and Upper Anderson Formation, extending from Stokes Bay-1 to Point Torment -1 in R1 and to West Kora-1 and Kora-1 in L15. There is also prospective resource identified in Stokes Bay-1 and this may form part of a mature well campaign together with testing of Anderson sands in 2015.
  • A planned workover of West Kora-1 to re-establish oil production will be carried out as part of future operations as unperforated Upper Anderson pay has been identified in West Kora-1. Further prospective resource potential has been identified up-dip of Kora-1.
  • The Lennard Shelf is dominated by a regional dip to southwest and is interrupted by synthetic and antithetic faults bounding the Precambrian Kimberley Block to the north setting up tilted fault blocks and terraces in the deeper part of the section. The Lennard Shelf is separated from the Fitzroy Trough by the Pinnacle Fault System.
  • Indication of extensive shale gas potential in R1 and L15 from high gas readings taken from marine shales intersected in the previously drilled Valentine-1 well.
  • Several leads in the offshore component of EP104 are interpreted to be Devonian reefs. The seismic over this lead will be reprocessed and remapped as part of the work commitment in EP104 this year to determine if additional seismic is required or whether the prospect can be drilled without further seismic.

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