P2428

P2428 is a 30th Round licence located to the north-east of the Crosgan discovery. Prospectivity exists at Carboniferous, Bunter Sandstone and potentially Rotliegend level. The Forbes Gas Field which produced from the Bunter Sandstone between 1985 and 1993 is located on the southern part of block 43/8. The Cupertino lead is the key lead identified over the licence with additional prospectivity with the Williamson lead.

Block Details
Licence No: P2428
Award Date: 01/10/2018 (Phase A – 3 years)
Quads: 43/7 & 43/8
Area: 477km2
Equity position: 100%

Cupertino Lead

The Cupertino Lead is a three-way dip closed foot-wall trap structure extending across 52km2. The structure lies on the SW flank of a graben complex bounded by a NW-SE striking fault that forms a linked-lateral offset in the regional graben complex trend.

The Lead is mapped primarily on tight 2D seismic grid however the NW closure is mapped and confirmed on 3D seismic survey. The bounding fault is a large offset fault with over 400m of throw at the crest of the structure, with juxtaposition of sand and shales.

Williamson Lead

The Williamson Lead, identified by preceding licensees, is a Bunter Sandstone lead located in block 43/07 and is situated up-dip from the unsuccessful well 43/7-1. The Williamson lead takes the form of a 3-way dip closure against the salt filled Mesozoic graben to the north. A bright, structurally conformable amplitude anomaly is observed within the prospect between 1,500m and 1,450m. The distribution of the amplitudes within the structure map indicates the potential for salt plugging adjacent to the salt wall to the NW and thereby preventing gas from moving to the structural crest.

Resource Summary

 

Licence Ref CLNR Equity Prospect Type PRMS Status Prospective Resource (BCF)
Risk Factor %
          P90 P50 P10  
P2428 100% Cupertino Scremerston Lead 69 262 914 21
Fell Lead 147 558 2089 30
Williamson Bunter Lead 10 20 40 33

Farm-in Opportunity

Given our 100% equity position in this licence CLNR is actively looking to attract funding and / or an Operating partner to support the maturation of this asset.