Proven Basin – Under-explored
50% Finder Exploration & Operator
50% Carnarvon Petroleum Ltd
Surface area:
WA-435-P ~4,955km2
WA-436-P ~5,120km2
WA-437-P ~4,855km2
WA-438-P ~6,790km2
Water depth: from 35 to 265 metres over the Permits
The WA-436-P, WA-437-P and WA-438-P Exploration Permits were awarded 100% to Finder and the WA-435-P Exploration Permit was awarded to Carnarvon on 4 August 2009 (the “Permits”). Finder and Carnarvon have entered into a heads of agreement to swap 50% of the three Finder permits for 50% of Carnarvon’s WA-435-P, with Finder assuming operatorship of the Permits. The Permits are situated in the north-western part of the Bedout Sub-basin within the greater Roebuck Basin, offshore Western Australia and lie in an under-explored area between the prolific Carnarvon Basin hydrocarbon province to the southwest and the Browse Basin to the northeast. The town of Port Hedland lies approximately 150 km to the south of the Permits and Broome lies 250 km to the northeast.
Opportunity highlights
• Proven petroleum systems, with mid Triassic Phoenix Gas Field in WA-435-P:
• Gas charged in all sands below 4,113 mRT (>767m)
• ~110 m low porosity net gas pay;
• Potential multiple reservoir/seal pairs and trap types through stratigraphic section from Lwr Cretaceous to Permian;
• Oil and gas targets; and
• Under-explored with no recent drilling (last well in 1983).
ftp://e0srp01u.ecs.nasa.gov
Geology of the Bedout Sub-basin
The Bedout Sub-basin consists of an east-northeast to west-southwest trending Mesozoic depocentre that is filled with approximately 2.5 km of Palaeozoic sediments and 7 km of Mesozoic section. The sub-basin is separated from the Beagle Sub-basin to the west by the North Turtle Hinge Zone, and bounded to the northwest by the Bedout High. The Mesozoic section has generally experienced gentle structuring and thickens to the west before pinching out against and partly draping over the Bedout High. To the east and south the Mesozoic sediments thin and progressively onlap the older Palaeozoic section.
The Bedout High locally separates the Bedout Sub-basin to the south from the Rowley Sub-basin to the north and consists of uplifted and eroded Permo-Carboniferous sediments above an interpreted faulted basement core and is capped by Late Permian volcanics. Early-Middle Triassic sediments onlap the Bedout High from all directions and approximately 3 km of Late Triassic-Cainozoic sediments are draped over the top. The Bedout High is approximately 30 km wide at its upper surface which is expressed as a peneplain.
Only six wells have been drilled in the Permits to date. The two wells, Phoenix-1 and Phoenix-2, drilled on the large Phoenix structure in WA-435-P both intersected extensive gas columns within lower-porosity, mid-Triassic reservoirs. In particular, Phoenix-1 recorded 110 metres of net gas-bearing section; however, further work is required to determine whether the gas discovery at Phoenix-1 could flow at commercial rates. A larger, untested structure in WA-435-P lies directly on trend with the Phoenix structure, 5-15 km to the southwest. Further to the southeast in WA-437-P lies yet another large, untested structure. Regional geology suggests that reservoir quality improves southward toward these prospects, but this model will need to be confirmed by drilling. These Triassic structures have significant potential on the order of several TCF’s of recoverable gas, if exploration and appraisal drilling are successful.
Other viable plays are recognised in these blocks including possible oil exploration potential at the shallower Cretaceous-aged levels. Carnarvon and Finder intend to carry out numerous studies to evaluate this potential.
The location of the Phoenix Field and key prospects and leads within the Bedout Sub-basin Permits.