Empire Oil & Gas has been awarded the North Perth Basin Petroleum Permit EP 426 for at least six years, enabling the company to finalise farmin agreements to fund the drilling of the Moriary-1 well in the permit.
The Moriary structure is interpreted as an anticline with the potential to have total recoverable reserves of five million barrels in the L sands and a similar amount in the J sands of the Jurassic-aged Cattamarra Coal Measures.
Empire considers the prospect to have a similar structural style to the Mount Horner Oilfield located 30km to the west and plans to drill the well in the 4th quarter, 2004.
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