Highly Prospective – Multiple Plays
||Quadrant Energy Australia Limited
|35% Finder Exploration
65% Quadrant Energy Australia Limited
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 is surrounded by active petroleum systems, as evidenced by the Mutineer/Exeter and Fletcher oil fields, (just south of the Permit), and the 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. Apache (now Quadrant) farmed into the Permit in 2010 to undertake the 3D seismic commitment (2011) and subsequently drill an exploration well. Permit Year Six has been extended until 29 January 2018 with a commensurate suspension of the Permit Year Six work program commitments.
The Joint Venture drilled the Hyde-1 exploration well during February/March 2016 using the semi-submersible drilling rig the Ocean Monarch. Hyde-1 intersected water bearing sandstones at the Angel/Legendre Formation primary reservoir level.
While the Hyde-1 result was disappointing:
- there are 14 remaining prospects and leads
- the deeper Athol and North Rankin Formations and the Mungaroo Channel oil &/or gas targets remain untested
- further technical work to de-risk these opportunities is required
Permit is play rich with the potential for stacked clastic reservoirs ranging in age from Cretaceous to upper Triassic, ie:
(i) Mid/late Jurassic oil play of the Angel Sandstone and Legendre Formation (compared to the Mutineer/Exeter fields analogues)
(ii) Early/mid Jurassic gas play of proximal Athol Formation and North Rankin Formation (compared to the Perseus, Goodwyn, North Rankin & Persephone fields analogues)
(iii) Secondary targets of Intra-Mungaroo sandstone channels (Triassic gas targets); and
(iv) Secondary targets of Neptune sandstone channels.
Semi-regional Oxfordian depth visualisation.