The 715 square kilometre permit, which lies along the Basin’s western edge, has proven hydrocarbons, reservoirs and seals indicated from numerous oil and gas shows in old wells drilled from 1965 to 1985.
In addition to conducting a new 2D seismic survey, the company says it will undertake a 3D survey to delineate the Pembroke prospect where significant oil shows were recorded in two of these historic wells.
“ATP823P is the first new block principally with oil potential offered out under the new Queensland petroleum legislation and we are delighted to be part of a new exploration drive in the Surat Basin,” Drillsearch managing director Philip Kelso said.
“Drillsearch will be applying the expertise it has gained from successful Cooper Basin oil appraisal and exploration drilling programs in south-west Queensland, namely new 2D and in particular 3D seismic followed by low-cost high efficiency drilling methods.”
He added that the acquisition allowed Drillsearch to return to its roots in the Surat Basin, where in 1987 it drilled the Pickanjinnie-10 well at Roma, which is still producing gas.
