High Potential over multiple Play intervals 40% Finder Exploration 
40% Murphy Australia Oil & Operator
20% PTTEP Australia Offshore
Surface area: ~4,100km2
Water depth: 250-550m
Exploration Permit AC/P 36 was awarded to Finder in October 2005. The Permit is located in the northern part of the highly prospective Browse Basin, 20km north of the multi-TCF Adele gas discovery and 80km north of the giant Ichthys gas field in WA-285-P.
ftp://e0srp01u.ecs.nasa.gov/While the main target of the Abalone Deep-1 well (the M.australis level) encountered non-commercial gas, the well has provided a critical data point for future exploration within the Permit. Evaluation of the remaining major prospects in the Permit continues in light of the Abalone Deep-1 well result. The Lower Cretaceous and the Middle/Late Jurassic have multi-TCF GIP (Gas-In-Place) potential while the Upper Cretaceous oil play also has significant upside within the 3D defined prospects.
Farm-out
In 2007, AC/P 36 was farmed-out to Murphy Oil Corporation and PTT Exploration and Production Public Company with Finder retaining a 40% interest.
Exploration Highlights
Full coverage by 3D seismic data: The Permit is entirely covered by 3D seismic data of which 1.375km2 has been reprocessed over the main prospects / leads. This has provided a technical advantage for prospect identification that has been not available to previous operators in the area. Finder has also undertaken inversion work using Fugro-Jason technology.
Ideally placed to supply LNG into the Asia-Pacific market: The demand for LNG in the region is projected to double by 2015 to 157 mtpa (from 88 mtpa in 2004). Australia is well positioned to capture the strong growth in demand from both existing and emerging markets and may become the world’s 2nd or 3rd largest LNG producer. The probability if fast-tracking development within the Browse Basin is high and increases the chance of commercialisation of any significant gas resources found in the Permit area.
Geology of the northern Browse Basin
The current form of the Browse Basin is the result of multiple periods of extension, subsidence and minor compression, associated with the fragmentation of eastern Gondwana followed by compression in the uppermost Miocene. This is a proven hydrocarbon Basin, delivering both oil and gas discoveries. Refer to the schematic cross section below for a generalisation of the key play concepts.
Generalised cross section through the northern Browse Basin showing the main play concepts.
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