News: Finder has entered into a farm out agreement which provides for Sasol Peroleum Australia Limited, a wholly owned subsidary of Sasol Petroleum International., to earn 45% in AC/P 52.
Highly Prospective – LNG Gas potential
55% Finder Exploration & Operator
45% Sasol Petroleum Australia Limited
Surface area: ~2,170km2
Water depth: 450-1,330m
Exploration Permit AC/P 52 was awarded to Finder in June 2009. The Permit is located within Territory of Ashmore and Cartier Islands and is between the northern limits of highly prospective Browse Basin and the southern boundary of the Ashmore Platform, ~300km off the coast of north-western Australia. The area lies directly west of Finder’s (40%) AC/P 36 exploration Permit and approximately 25km north of the Argus gas field.
Potential Play-types
(i) Oxfordian sandstones within fault blocks, and
(ii) Middle to Lower Triassic fault blocks (Nome Formation).
ftp://e0srp01u.ecs.nasa.gov/
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.