WA-316-P is located some 70 km to the west of the Bayu-Undan gas/condensate field and 10 km south of the Laminaria/Corallina fields. West Oil said the proximity of the permit to the massive Bayu-Undan field should see the value of gas prospects in the area increase. In addition, the permit is located entirely in Australian Commonwealth waters.
"The permit has a number of Plover sandstone oil prospects together with a very large gas prospect, Avocet Deep, which has a P50 potential of containing three trillion cubic feet of gas in Permian limestones," West Oil said. "The permit has a large amount of existing 2D seismic which West Oil will reprocess in the first year. Following interpretation and mapping of prospects, a well will be drilled in the third year."
