WA-527-P, Roebuck Basin
Offshore Western Australia
In March 2017, 3D Oil Limited (ASX: TDO) was granted 100% interest in exploration permit WA-527-P in the offshore Roebuck Basin.
WA-527-P covers a large area of 6,580 km2 in water depths ranging between 65-170m. The permit is under-explored, covered by a broad grid of 2D seismic data of varying vintages and currently has no exploration wells.
WA-527-P is located to the east of a series of recent oil and gas discoveries which have uncovered a new petroleum province. These discoveries were made as result of the 2014-2016 exploration campaign led by the Quadrant Joint Venture. They indicate that the Roebuck Basin is a significant petroleum province which opens up the potential for success in nearby areas.
WA-527-P Work Programme:
The approved minimum work programme is as shown below.
|Year||Activity||Indicative expenditure (A$)|
|Minimum guaranteed dry hole work programme|
|Year 3||Acquire and process 510km2 3D seismic survey||$3,060,000||$3,860.000|
The initial evaluation of WA-527-P undertaken by TDO included a review and interpretation of both open-file and licenced seismic data followed by a full petroleum systems analysis. The results of this initial work indicate that the petroleum system uncovered by the nearby recent discoveries is likely to be active nearby and partly within WA-527-P.
TDO’s evaluation has revealed the potential for multiple oil leads within the prospective Triassic section of the western side of the permit. These leads will be the focus a 3D seismic survey currently scheduled to be acquired during Year 3 of the work programme. This data will assist TDO in determining which of these leads is likely to have the greatest areal closure and therefore the most commercial oil volumes.
TDO anticipates that results of the upcoming drilling program scheduled for the Roebuck Basin in 2017 will enhance the prospectivity of WA-527-P. The Quadrant led Joint Venture is preparing to drill the Dorado-1 well on the Dorado Prospect, located to the south of the Roc structure. The results of this well could have implications for the prospectivity of WA-527-P, as TDO’s view is that the Dorado target could be within a similar geological setting as the leads that TDO’s technical evaluation has revealed.