PROJECTS
TG Project
The Company will hold a 50% interest in ~160,000km2 of hydrocarbon exploration permit applications in the Northern Territory*. The Company is progressing the permits through the grant process and has adopted a prioritised approach on the basis of prospectivity.
*subject to the satisfaction of conditions precedent under a binding Heads of Agreement, the Company will hold a 50% interest in the permits through holding 50% of the shares in NT Holdco which is the owner of 100% of the shares in Territory Gas Pty Ltd, which in turn owns 100% of the shares in NT Gas Aust Pty Ltd and Territory Gas Aust Pty Ltd where the tenement applications are held.
Portfolio Overview
- 30 applications for petroleum exploration permits (EPs) within the Northern Territory, encompassing ~160,000 km2Â of gross permit area
- The Company will hold a 50% interest in the EP applications through an incorporated joint venture with McKam Aust Pty Ltd
- Large acreage positions neighbouring licenses held by Origin, Santos, Empire Energy, Blue Energy and Armour Energy/McArthur Oil & Gas
- Successful drilling and flow tests carried out by regional players continue to de-risk commercial potential
- Significant Velkerri shallow shale areas up to 700m thick with large gas-in-place volumes and high liquids content as discovered in surrounding wells (wet gas window)1
- Bessie Creek sandstone formations of up to 30m thickness prospective for conventional gas1
1 Source: Summary of the Prospectivity of Certain Exploration Permits, Queensland and the Northern Territory, Australia (ERCE)
Prioritised Permits and Prospectivity Potential
EP(A) 257 (7,255 km2): Located in Greater MacArthur Basin – both conventional / unconventional prospectivity. Potential gas in the Limmen sandstone and likely presence of the Velkerri Shale, which is being targeted by Origin, Santos and Empire Energy
EP(A) 258/259 (3,812 km2): South of known discoveries within the Velkerri / Kyalla Shales, and conventional Moroak / Bessie Creek Sandstone reservoirs, on edge of Greater MacArthur Basin
EP(A) 261 (3,218 km2): Located within the South Nicholson Basin with stratigraphic play potential
EP(A) 265/277 (33,837 km2): Surrounding the Murraba Basin, similar stratigraphy is found within the producing Amadeus Basin
EP(A) 279/280 (26,830 km2): Located on the edge of the Amadeus basin, nearby the producing Surprise oil field. Conventional prospectivity from similar plays to the Surprise field is apparent
| Permit | Prospectivity Potential (1) | ||
| Area (km2) | Unit | Thickness (m) | |
| EP(A) 257 | 896 | Lissoy Sandstone | 20-50 |
| 1,247 | Betts Creek Coals | 5-20 | |
| 1,247 | Toolebuc Shale | 10-20 | |
| EP(A) 258 | 3,328 | Velkerri Formation | 300-500 |
| Bessie Creek Sandstone | 3-15 | ||
| Limmen Standstone | 5-40 | ||
| EP(A) 259 | 3,328 | Velkerri Formation | 500-700 |
| Bessie Creek Sandstone | 5-30 | ||
| EP(A) 279 | 596 | Velkerri Formation | 500-700 |
| Bessie Creek Sandstone | 5-30 | ||
| EP(A) 280 | 1229 | Lower Stairway Sandstone | 15-20 |
| EP(A) 261 | 629 | Lower Stairway Sandstone | 15-20 |
| Permit | Potential Prospective Area (km(2)) | Approximate Sedimentary Thickness (m) |
| EP(A) 261 | 936 | 300 |
| EP(A) 265 | 1,275 | 600 |
| EP(A) 265 | 218 | 600e |
1. Source: Summary of the Prospectivity of Certain Exploration Permits, Queensland and the Northern Territory, Australia (ERCE)
Work Program
- Prior to grant of applications, the Company will undertake geological & geophysical studies including preparations for 2D seismic acquisition
- 2D seismic acquisition over the prioritised permits as permits are granted
- Seismic processing and interpretation, work up drill-ready prospects and resource potential