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Seismic Data Shows Two New Gas Prospects Offshore Australia

Published Aug 5, 2011 1:21 PM by The Maritime Executive

Tangiers Petroleum Limited successfully concluded its Phase 1 deep seismic interpretation for its 90% owned Exploration Permits WA-442-P and NT/P81, located in the Southern Bonaparte Basin offshore Australia.

Undertaken by Schlumberger (WesternGeco), the interpretation resulted in the delineation of two significant anticlinal structures.

  • Schlumberger completes Phase 1 seismic Interpretation of new deeper gas play concepts within the Devonian interval in permits WA-442-P and NT/P81 for Tangiers
  • Two horizons mapped showing two new prospects, Nova and Super Nova
  • An estimate of prospective resource volumes for these prospects is being prepared and will be ready for release in the coming weeks
  • Additional structures and horizons have been recognized and will be mapped to determine additional resource volumes in the upcoming months

Mark Ceglinski, chairman of Tangiers Petroleum, commented: 'Tangiers is extremely excited to have the definition of new prospectivity in the WA-442-P and NT/P81 exploration permits, especially structures of this potential scale positioned partially beneath existing oil accumulations at Turtle and Barnett in the Southern Bonaparte Basin offshore.'

Tangiers is finalising work on the initial volumetric estimates, which should be ready for release shortly.

'This will vastly enhance our existing resource base in Australia and create opportunities to test multiple objectives in the Devonian and younger rocks with a single well penetration,' Mr Ceglinski said.

The Company will continue to devote efforts to identify additional prospects in the offshore Devonian section by mapping additional horizons over the next several months.

The Nova structure has a crest at approximately 3425m based on preliminary time to depth correlation and encompasses a closure area of 240 square kilometres. The Super Nova structure is deeper with the crest at 6085m and closure area of 232 square kilometres. The preliminary depth structure maps along with a west to east seismic line are detailed below.