Energy: Norwest hopes to replicate recent Perth Basin gas discoveriesWith two recent gas discoveries in the Perth Basin, Norwest Energy (ASX:NWE) and its operating partner Energy Resources have, to the surprise of no one at all, chosen to drill the Lockyer Deep gas prospect in the first half of 2020.
Lockyer Deep is 15km east of Mitsui E&P and Beach Energy’s (ASX:BPT) producing Waitsia field and directly on trend with Strike Energy’s (ASX:STX) West Erregulla-2 gas discovery.
It has been significantly de-risked by both West Erregulla-2 and Beach’s more recent Beharra Springs Deep discovery.
Lockyer Deep targets the same conventional Kingia/High Cliff targets that produce gas at Waitsia, while the Kingia produced a very neat 69 million cubic feet of gas per day during testing at West Erregulla-2.
At Lockyer Deep, the Kingia/High Cliff targets could hold up to 1.12 trillion cubic feet of gas.
Additional potential may exist within the Wagina Formation as encountered at West Erregulla-2.
Norwest has a 20 per cent interest in Lockyer Deep while Energy Resources, the energy arm of Mineral Resources (ASX:MIN), holds the remaining 80 per cent.
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