BPH releases information from prior tenement holders at PEP 11
BPH Energy Ltd (ASX:BPH) informed the ASX today that another key report on the PEP 11 area prepared by Ampolex Limited was identified from a literature review.
BPH has an interest of 22.7% in Advent Energy, providing it with an indirect interest in PEP 11, an area that extends across most of the shallow (less than 200 metres) offshore Sydney Basin covering more than 4500 square kilometres.
Management highlighted that the Sydney Basis is part of a much larger foreland basin which once extended from Queensland (Bowen Basin) southwards through the Sydney-Gunnedah Basins to the Nilsen-Mackey Basin.
The commentary from a number of sources released today follows last week’s report which referred to previous activity in the broader area.
This most recent report was one of the studies produced by prior tenement joint holders, Santos and Ampolex.
In the gleaning information from an Ampolex report, management noted that Baleen South Lead was one of the group’s major targets and that ‘primary source rocks could provide a viable, mature gas/condensate source along the length of the offshore uplift’.
Australia Advent has identified a new target at Baleen (Baleen South Lead) on the crest of the Offshore Uplift.
A high resolution 2D seismic survey has been conducted to assist in establishing a drill target at Baleen, approximately 30 kilometres south of Newcastle.
Citing historical data, BPH said that the structure was mapped with 1991 seismic data.
The primary target reservoir in the offshore Sydney Basin is the Hawkesbury Sandstone.
It is anticipated that excellent top seal would be provided by Wianamatta Group shales and or Newport Formation Tidal shales.
It is worth noting that a decision by National Offshore Petroleum Titles Administrator (NOPTA) that would enable drilling of the Baleen target is pending.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.
