WA-527P Exploration Farmin Opportunity
Company name: 3D Oil Limited (ASX: TDO)
Address: Level 18/41 Exhibition St, Melbourne VIC 3000, Australia
Phone number: +61 3 9650 9866
E-mail: Noel Newell & Daniel Thompson
Company Website: https://www.3doil.com.au/
Project : WA-527P Exploration Farmin Opportunity
Type of deal: Farm out
Basin: Bedout Sub-Basin
Type of project: Exploration
Location (On/Offshore): Shallow Water
Area: Australasia
Description: WA-527P is a large permit (~6500 sq. km) within the emerging petroleum province of the Bedout Sub-basin, Operated by 3D Oil (100%). The permit lies 80km northwest of the 2018 Dorado oil and gas-condensate discovery, recently appraised to contain 162MMbbls liquids and 748Bcf gas across several sequences of Lower Triassic deltaic sands. 3D Oil has identified a high value leads portfolio with a Best Estimate Prospective Resource estimate of 350 MMbbls. Three leads have been delineated across Lower Triassic to Upper Jurassic plays, including Salamander, Whaleback and Jaubert. An evaluation of reprocessed open-file 2D seismic has also revealed significant potential for the extension of the Dorado play into the SW corner of WA-527P through the identification of several incised valleys. The incised valleys are recognised by the truncation of high amplitude reflections and their contrasting bland seismic fill, not unlike the Dorado-Apus channel. Rich oil and gas-prone source rocks were deposited within a paralic swamp/lagoon environment on the delta plain and are interbedded with the reservoir at Roc and Dorado. Paleogeographic studies indicate the Caley Member source lies proximal to WA-527-P within deeper deltaic sequences given the progradational nature of the depositional system. 3D Oil is seeking a Joint Venture partner to cover the Year 3 work commitment to acquire >510 sq. km of 3D seismic data over the SW corner of the permit. Modelling of several AvO attributes indicates a hydrocarbon response can be expected and reveals a transition from Type III to Type II AvO classes with depth. Accordingly, we should expect a 3D survey to significantly derisk future exploration for up-dip structural-stratigraphic traps in the study area.
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