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EP 437

Perth Basin

Key Petroleum Ltd
(via subsidiaries) (Operator)
43.47%
Rey Resources Ltd
(via subsidiaries)
43.47%
Caracal Exploration Pty Ltd 13.06%

 

LOCATION

The Dunnart prospect is located near Dongara in the onshore North Perth Basin, Western Australia.

EXPLORATION POTENTIAL

  • The Dunnart structure is a tilted fault block which is defined by seven seismic dip lines and one strike seismic line.
  • Dunnart-2 was drilled updip from Dunnart‑1, which recorded excellent oil shows through the Bookara Sandstone and is to be tested in May 2015.
  • The Best estimate prospective resource is 2 million barrels of oil (MMBO) in the Early Triassic Bookara Sandstone.
  • All approvals have been granted by the Department of Mines and Petroleum with a Land Access Agreement in place for testing operations to commence.
  • The potential follow-up wells to be drilled within the EP437 permit after Dunnart-2 include:
    • Dunnart-3 Appraisal Well
    • Wye-Knot-1 Exploration Well
    • Dunnart North-1 Exploration Well
    • Wye Here-1 Exploration Well
    • Conder South-1 Exploration Well
    • Wye West-1 Exploration Well
  • Recent re-mapping of the permit and re-interpretation of well test data from the nearby Wye-1 discovery well indicates that the Wye-Knot prospect, situated immediately north of Dunnart-2, is in the oil migration pathway and presents a potential drillable prospect.
  • The un-risked prospective resource (in accordance with Clause 7.3 of ASX Guidance Note 32) calculates recoverable oil at Wye-Knot-1in a range of 5-14 million barrels.

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