TDO has reported additional prospectivity within the VIC/P74 exploration permit offshore southeast Australia after seismic reprocessing was carried out by CGG.
TDO has reported additional prospectivity within the VIC/P74 exploration permit offshore southeast Australia after seismic reprocessing was carried out by CGG.
VIC/P74 in the Gippsland basin covers an area of 1006 km2 in water depths generally no greater than 80 m. The permit is covered by ~1000 km2 of recently reprocessed 3D seismic data. The permit contains numerous oil and gas shows and the Omeo gas-condensate discovery.
Additional seismic interpretation and depth conversion at the top of the Emperor sub-group has led to the identification of additional closures that may host reservoirs similar to those which host hydrocarbons at Omeo.
The next stage of exploration in VIC/ P74 will involve acquisition or purchase of modern 3D seismic data to assist with maturing the best potential leads to prospect status. Internal risking is currently underway in order to assist with informing this next stage.
Megatooth Lead is a fault-dependent closure against the Darriman Fault System with closure extending across mapped reservoirs at F.longus, Golden Beach, and Emperor levels. Fill-to-spill closure relies on the sealing capacity of an additional fault to the north that merges with the Darriman Fault system. The up-dip cross-fault seal relies on juxtaposition with the proven impermeable Strzelecki Group across the Darriman fault system.
With the addition of volumetrics estimated for the Emperor sub-group, Megatooth has a total best estimate recoverable prospective resource of 465 Bcf, up from 204 Bcf. The lead is well situated relative to the kitchen underlying Bream towards the northeast and migration can be demonstrated by gas-condensates intersected within the Lower Latrobe Group at Omeo 1A. Emperor reservoirs at the Omeo wells lie within 1 km of Megatooth and consist of fluvial sands inter-bedded with intra-formational shale seals that reach up to 20m-thick. Recent petrophysics at Omeo 1A support the effectiveness of these seals through the delineation of gas condensates across several reservoirs. The Oarfish lead is a three-way fault dependent closure that extends from the Top Latrobe through L.balmei, F.longus, Golden Beach and reservoirs of the Emperor. With the addition of volumetrics estimated from the Emperor reservoirs, Oarfish has a total best estimate recoverable prospective resource of 544 Bcf, up from 338 Bcf. The lead is situated 2 km to the east of Omeo 1A and reservoir/seal pairs are anticipated to be similar, though lateral changes in depositional environment pose a potential risk for top seal extent. Oarfish is similarly well situated with respect to the kitchen down-dip and migration is anticipated to be low risk. Oarfish essentially has the same trapping configuration as the Omeo structure, which has hydrocarbons at equivalent levels based on log analysis and RFT recovery of water and gas with a thin film of oil/condensate.
TDO is the the operator (50%) of VIC/ P74, which is located along the southern terrace of the Gippsland Basin, adjacent to Kingfish field. It is the largest-ever offshore oil discovery in Australia.
TDO’s joint venture with Hibiscus Petroleum continues to engage in farmout discussions for future exploration drilling and seismic acquisition.
