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|Project Name:||Australia EP437|
|Ownership:||13.058% Working Interest|
EP437 is situated on the west of the northern Perth Basin, between the towns of Geraldton and Dongara; some 10km to the north of the Dongara gas field and Jingemia/Hovea oil fields, and 20km to the north of the Cliff Head oilfield. A number of wells have been drilled to date, the results of which confirm a working petroleum system within the permit. Pilot Energy’s interpretation of existing well and seismic data suggests the presence of a number of shallow-depth prospects at the Bookara and Arranoo sandstone levels, located along a terrace structure and structurally updip from the Dongara gas field. Three prospects have been identified to date, all located updip from the Dunnart-1 & 2 wells; both of which encountered good oil shows.
EP437 provides Pilot Energy with exposure to low cost onshore oil and gas exploration, in a permit in which prospectivity has been identified within a working petroleum system and along trend from existing discoveries. The proximity to infrastructure in this part of the Perth Basin enables even small oil discoveries to potentially be commercialised.
The joint venture interests in EP437 are as follows:
|Key Petroleum Ltd||43.471% (Operator)|
|Rey Resources Ltd||43.471%|
|Pilot Energy Ltd||13.058%|