In a statement this morning, the company said permit T06-2, where it is committed to acquiring 3D seismic data and drilling two wells, neighboured a permit co-owned by Tap Oil and Origin Energy.
Rawson said the permit was also near the Yolla gas-condensate discovery, which feeds the BassGas project.
“The Bass Basin has similar geological characteristics to the prolific Gippsland Basin with potential for new oil discoveries as well as gas and condensate discoveries such as Yolla, White Ibis and Trefoil,” Rawson chairman John Conolly said.
Rawson said it had a “high level of confidence” regarding its T06-2 permit, having reviewed the existing data, in addition to its prior knowledge of the area, and the interest of other key players in the Bass Basin.
The company said it planned to fund an aggressive seismic and drilling exploration program across its tenements in 2007 by bringing in farm-in partners from the USA.
Following a visit to the US by its technical team last month, Rawson says it has started initial discussions with companies interested in investing in its Surat, Pedirka, Otway and Bass permits.
