The Audit, undertaken by Focal Petroleum Engineering of Perth, was carried out on the Permian gas reserves in the Churchie gas field (PL192) in south east Queensland’s Surat Basin.
The Permian Tinowon Formation 3P (proven, probable & possible) recoverable gas reserves are estimated to be 118 bcf and the Permian Wallabella 3P recoverable gas reserves at 11bcf, totalling of 129 bcf (132.8 PJ) of 3P gas reserves.
Joint Venture partner Mosaic also advised that additional to the audit of the Permian gas reserves, electric logs indicate that the Rewan Formation (Lower Triassic) in all wells so far drilled in the Churchie field could have economic potential.
The resource potential of recoverable gas in the Rewan Formation is in the JV books at 5.4 BCF (Low Case), 25 BCF (Medium case) and 102 BCF (High case).
The interests in the permit are Santos Ltd (51%) and Mosaic (operator 49%).
