|Mineral Resources Limited (Operator)||
|Total Area: 600.3 km2|
EP368 covers an area of 600km2, and is situated at the northern end of the hydrocarbon fairway running through the northern Perth Basin.
The permit lies to the east of the Dongara township, and adjacent to Mitsui’s Waitsia Gas Field. It was previously announced that the combined flow test results of the Waitsia-1 from the High Cliff Sandstone and Kingia Formation totalled over 50mmscfd. The extent of the Waitsia play into the EP368 remains to be confirmed but the results of the recent Mistui Irwin-1 well suggests that the Kingia reservoir fairway increases in thickness to the east and this potentially into EP368.
During Q2 CY2018, Mineral Resources Limited (ASX:MIN) secured an extension on the EP368 work program. With this regulatory hurdle removed, NWE and MIN are fully committed to progressing plans to drill the Lockyer Deep prospect.
Current planning is for Lockyer Deep to be drilled mid-2019, with the expectation that a suitable drilling rig will be available in the Perth basin. The well will be subject to regulatory approvals and funding. Lockyer Deep is a medium risk well, targeting between 25 and 134 BCF, with a best case estimate of 58 BCF (1).
North Erregulla Deep has estimated prospectives resources of between 15 and 122 BCF, with a best case estimate of 55 BCF (2) and represents an immediate follow up prospect.
(1). Refer Empire Oil and Gas NL (ASX:EGO) investor Presentation released to ASX on 2nd September 2015
(2). Refer Empire Oil and Gas Nl (ASX:EGO) Q4 2015 Quarterly Report released to ASX on 27th January 2016