Austral said future testing of the Douglas sidetrack well in permit PPL 235 would be scheduled to coincide with exploration drilling at the nearby Puk Puk prospect and/or with appraisal drilling at Douglas.
The greater Douglas structure covers more than 40 square kilometres, and Austral has said it could contain several hundred billion cubic feet of gas.
A 54km seismic survey currently underway in the licence is aimed at maturing the Puk Puk prospect to drillable status, defining the size of the Douglas structure, and optimising appraisal locations along the Douglas closure’s northern lobe.
Terms of reference for a feasibility study to examine the options for commercialising the Douglas resource were currently being prepared, according to Austral.
The company was now transferring operatorship of PPL 235 to Rift Oil, as outlined in the farm-in agreement. Licence interests will remain unchanged with Rift Oil holding 65% and Austral owning the remaining stake.
Meanwhile, Austral is still considering options for monetising its Stanley gas resource in PRL 4 pending renewal of the licence, and is waiting for Papua New Guinea Petroleum Advisory Board approval for its APPL 261 application.
This lightly explored area is situated along strike from PPL 235 and Douglas. It is considered to be highly prospective and likely to contain structures similar to those seen in PPL 235, according to Austral.
