AC/P52 – Browse Basin







Highly Prospective – LNG Gas potential


AC/P 52 – North Browse. Preliminary 3D visualisation of the Cartier West 3D seismic survey. Oxfordian (Jurassic)
unconformity pSTM depth converted surface.

 

Key Information

Operator: Shell Australia Pty Ltd
Permit
Interest:
20% Finder Exploration
30% Sasol Petroleum
Australia Limited

50% Shell Australia Pty Ltd
Surface
Area:
~2,170km²
Water
Depth:
450-1,330m
Permit
Year:

Six



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 approximately 25km north of the Argus gas field. Permit Year Six has been extended until 25 May 2017 with a commensurate suspension of the Permit Year Six work program commitments.

Opportunity Highlights

  • Low reservoir risk: ~670 metres shallower than the Poseidon discovery with no evidence of volcanics;
  • Low charge risk: first structure encountered to the north of the Argus-1 charge cell;
  • Low structural risk: structure confirmed on pre-stack depth migrated (“pSDM”) 3D seismic data;
  • Low seal risk: Jamieson Formation ultimate top seal, with additional intraformational sealing potential;
  • High reward: Montara, Plover and Nome sandstone reservoir targets constrained by new 3D seismic data.  Cronus has unrisked gas-in-place highside resource estimate of ~7.8 TCF at ~3,630 metres below mudline;
  • Drill Ready: ~517 km² of new multi-client pSDM 3D seismic data has confirmed Cronus as a “drill-ready” prospect (~140 km² areal extent with ~350 metres closure height);
  • Many commercialisation options: LNG feedstock, either standalone or tie-back existing discoveries.


Location map of the regional pSDM tie line – Cronus to Argus


Regional pSDM tie line – Cronus to Argus