News: 20 October 2010: Finder has entered into a farm out agreement which provides for Apache Northwest Pty Ltd, a wholly owned subsidiary of Apache Corporation, to earn 65% and to assume operatorship in WA-418-P.
Highly Prospective - Multiple Plays
35% Finder Exploration
65% Apache Northwest Pty Ltd & Operator
Surface area: ~3,645km2
Water depth: 200-1000m
Exploration Permit WA-418-P was awarded to Finder Exploration in late October 2008 following the 2008 Gazettal round. The Permit is located in the Northern Dampier/Beagle Sub-basin which is the northern most depocentre of the Northern Carnarvon Basin, 250km offshore Dampier, Western Australia. The Permit contains three wells: Delambre-1, Ermine-1, and Serval-1. The Permit is surrounded by active petroleum systems, as evidenced by the Mutineer/Exeter and Fletcher oil fields, (just south of the Permit), the and oil bearing sands in the Calypso Formation (at Nebo-1 drilled in 1993) to the east and is proximal to the giant gas fields of the Rankin Trend to the southwest.
Particularly relevant to the hydrocarbon prospectivity is the recent geochemical modelling work that has recognised that:
- the Victoria Syncline is a significant hydrocarbon charge cell, charging the Goodwyn, Perseus, North Rankin and Persephone complex.
- there are several potentially generative source levels, including the Murat Siltstone, three modelled Triassic levels, plus the late Jurassic.
- the nearby dry holes are either too far from charge (northeast) or are shielded by the first structures north from the Victoria Syncline.
- the Mutineer/Exeter oils are predominantly sourced from both late and early/mid Jurassic source with a poly-charge history. These fields are believed to be initially gas fields with the “light ends” subsequently removed, leaving current day oil fields.
Play rich with the potential for stacked clastic reservoirs ranging in age from Cretaceous to upper Triassic
(i)Mid/late Jurassic oil play of the Angel Sandstone and Legendre Formation (compared to the Mutineer/Exeter fields)
(ii)Early/mid Jurassic gas play of proximal Athol Formation and North Rankin Formation (compared to the Perseus, Goodwyn, North Rankin & Persephone fields)
(iii)Secondary targets of Intra-Mungaroo sandstone channels (Triassic gas targets) and Neptune sandstone channels.