South Australia

EPP 27: Otway Basin, Offshore South Australia

Oilex, Videocon and GSPC (together the “Farminees”) entered into a farmin agreement with Great Artesian Oil & Gas Limited (“GOG”) on 27 February 2006. Each of the farminees is to pay 33.3% of the cost of a well and seismic programme to earn a 20% working interest in the permit.

Woodside acquired a 3D seismic survey (Carpenter Survey) in the NW area of the permit as part of an earlier farmin agreement. Oilex reviewed the work completed by Woodside and revised the fault patterns in the 3D area, the porosity versus depth relationship and source rock maturity interpretations. The structures mapped in the 3D seismic area all have significant risk of leakage on fault-dependent closure.

The ‘Christine’ 2D seismic survey commenced on 28 June 2006 and was completed on 20 July 2006. The survey was conducted by M.V. Pacific Titan under management by Santos Ltd as part of a group of surveys being conducted in the general area. During the survey, approximately 1300 line kilometres of data were acquired, extending an existing seismic grid and covering eight leads identified in the south-eastern part of the permit.

The survey was the first phase of the work programme that Oilex, GSPC and Videocon are conducting. The interpretation of the integrated data set confirms the leads mapped previously and these have been elevated to prospect status. Eight prospects in water depths of 70-105 metres have been mapped in the southeastern sector of the block where reactivation and intensity of faults is less severe. Prospects are in the range of 40-150 mmstboip.  

Latest Activity

Oilex, on behalf of the EPP 27 Joint Venture, is negotiating with the relevant authorities regarding the status of the exploration permit. The term of the final permit year 6 ended on 24 August 2008 and discussions with the Government authorities are in progress to determine future activity on the permit.