The block is prospective for oil covering 2010 sq. kms in water depths ranging from 50 to 150 metres. It is thought that oil has migrated into the Block from a number of significant nearby oil fields including Legendre, which is currently in production.
W03-9 carries a modest exploration commitment requiring reprocessing of seismic data and the acquisition of 200 kms of new 2D seismic in Year 3.
Acquiring the new Carnarvon block marks a continuation of the company’s strategy to building significant oil exploration acreage in established petroleum WA producing basins, after its recent focus had been on southwest Queensland.
