Bow has the dominant gross acreage position in the Western Surat Basin in Queensland in areas adjacent to several commercial oil fields, the company says. Bow will be highlighting its farm-in opportunities at the 2006 Farm-in Seminar to be held at the APPEA national conference on the Gold Coast in May.
“Transportation and operating costs for oil production in the Surat Basin are substantially less than other producing onshore basins such as the Cooper-Eromanga Basins, therefore the Surat Basin offers smaller commercial oil accumulation size thresholds,” Bow managing director Ron Prefontaine said.
Most drilling to date in the western Surat Basin has been on four-way closed structures. But oil migration in the basin occurred prior to major structuring when the western Surat was a simple monocline with minor drape structures, according to Bow.
“The majority of the primary oil generation and migration accumulated initially into stratigraphic traps and drape features over the monocline within progressively younger reservoirs as base seals thinned to the west,” Prefontaine said.
“Later period structuring and gas generation may have re-migrated oil into newly formed traps – mainly on the flanks of structures where better reservoir are developed.”
Bow has interpreted the potential for a series of north-south stratigraphically controlled oil fairways with the potential to host commercial oil accumulations.
Oil prospects and leads recognised within the various oil fairways have field size potentials in the 1-10 million barrels recoverable range, according to Bow.
The PESA Farm-in Seminar will be held on the Sunday morning before the conference. This year’s seminar will be held on May 7 in Meeting Room 5 at the Gold Coast Convention and Exhibition Centre, Broadbeach, Queensland.
Company representatives will outline the technical and commercial aspects of their opportunities via short audio visual presentations. There will be time during and after the seminar to discuss additional details with interested parties in private.
Registration fees are $360 for presenters and $180 for viewers.
These fees also purchase a copy of the PESA 2006 Farm-in Seminar Report CD (containing details of all proposals presented), morning coffee and lunch, including drinks.
To make a presentation at the seminar, contact Wolfgang Fischer for details or register online (www.pesansw.com) by no later than April 20. To attend as a viewer, register by May 4.
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