JV Partners Empire Oil & Gas 80.00% (Operator)
Norwest Energy NL 20.00%
Total Area 600.3 km2
Operator Empire Oil and Gas (ASX:EGO) reports that the interpretation of the Black Swan Airborne geophysical survey is now complete, in addition to completion of the reprocessing of more than 400km of historical 2D seismic data.
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 prospective resources of between 15 and 122 BCF, with a best case estimate of 55 BCF (2), and represents an immediate follow up prospect should Lockyer Deep-1 be successful. The Operator, Empire Oil and Gas, reports that the Lockyer Deep well is expected to be drilled in the second half of 2016, subject to funding. During the December 2015 quarter, Lockyer Deep well was approved as the commitment well by thje EP368 Joint Venture.
AWE previously announced that the combined flow test results of the Waitsia-1 well from the High Cliff Sandstone and Kingia Formation totalled over 50 mmscf/d. The extent of the Waitsia play into EP368 remains to be confirmed but the results of the recent AWE Irwin-1 well suggests that the Kingia reservoir fairway increases in thickness to the east and thus potentially into EP368.
Lockyer Deep Prospective Resources – Kingis/High Cliff Sandstones
Secondary targets: Hovea Member; Dongara Sandstone; Carynginia Formation
(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