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West Australian Farm-in Opportunities
Pilot Energy operates 5 exploration permits in Western Australia. Currently, there are three farm-in opportunities: WA-507-P, an offshore deep water permit with big gas/oil; WA-481-P, an offshore shallow water permit with midsized oil; and EP 416/480, an onshore big gas permit within a hungry market. WA-507-P, located in the Northern Carnarvon Basin, has three large structural prospects identified on existing 3D seismic data. The prospective resources were confirmed by Gaffney Cline & Associates. Best case prospective resources of two prospects of 4 TCF gas each and 1 billion bbls oil. WA-481-P is a large block located in offshore Perth Basin, surrounding Cliff Head oilfield. 11 oil prospects were identified in 3 focus areas, Cliff Head South, Dunsborough trend, and Leander reef complex. The summed best case prospective resources are 272 MMbbls. EP 416/480 are large onshore permits south of Perth. The regional gas pipeline crosses the permits. In this area, large Leschenault gas prospect is mapped on 2D seismic data. In the two target reservoirs, conservative estimates are 300+ BCF each.
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