Finder Exploration farming out Canning Basin permit EP 493
Central & SE Asia/Australasia
PO Box 681 West Perth WA 6872
+61 8 9327 0100
February 17, 2015 at 4:39 pm
Type of Deal:
Finder Exploration has commenced an informal farmout process for Canning Basin permit EP 493. Click here for the Permit Area opportunity flyer. For additional information, see the PESA September 2014 Presentation given by Finder’s Exploration Manager, Dariusz Jablonski.
The Permit Area, which is held 100% by Finder, is located in the southern Canning Basin, on the Broome Platform, between the Buru Energy/Mitsubishi acreage to the north and the New Standard Energy acreage to the south. Both Buru Energy and New Standard Energy have significant near term and nearby exploration programs planned. The Permit Area is approx. 150 km southeast of Broome with excellent road access. Finder has identified three unconventional potential play levels and a further five conventional play levels within the Permit Area.
In June 2015 (ie Permit Year One) Finder will drill a vertical petroleum exploration data well to test the unconventional liquids potential of the Middle Ordovician Goldwyer III Unit (with total depth of less than 1,800 mGL) and confirm the geotechnical model. In Permit Year Two Finder will drill a further two petroleum exploration data wells and acquire 220km of 2D seismic to further test the shale resource play.
• Excellent liquids rich shale: regional review indicates Goldwyer III thickness up to 140 metres with high TOC (3-7%) and with shale porosities in excess of 8%;
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