hdr without mauritiania ?, page-6

Treva,

thanks mate.

Still not nearly closer but its all around WPL oil and gas fields in the area.

Here is something from bounty ....


Vulcan Sub-basin - AC/P 25, 32

AC/P 25, 32
OFFSHORE VULCAN SUB-BASIN
TERRITORY OF ASHMORE AND CARTIER

AC/P 25 - prospectivity enhanced by Bounty's seismic reprocessing


AC/P 32 - Magnolia and Wisteria prospects estimated to hold 85 mmbo and 52 mmbo recoverable respectively


AC/P 32 - Azelea lead has potential for 234 mmbo recoverab


AC/P25

Interest holders:



Bounty Oil & Gas NL 5% (Operator)
Hardman Resources Limited 95%



AC/P 25 & AC/P 32
location mapLocated 250 kilometres off the coast of Western Australia, AC/P 25 contains the extension of the Talbot Field structural trend (click for map). The trapping horizon that is present at Talbot (Triassic Challis sands) extends into the permit and provides potential for the accumulation of volumes of oil and/or gas. The Sebring-1 well, drilled in AC/P 25 in early 2002 encountered good quality reservoir sands at this level but was not a valid structural test.

Bounty has reprocessed over 600 km of existing 2D seismic in the permit. The reinterpretation of the seismic has supported the presence of a number of Triassic closures. Deeper prospectivity also exists in the Permian section. Bounty has farmed out a 95% interest in this permit to Hardman Resources Limited in return for $50,000 cash and a carried interest through the acquisition of 400 kms of 2D seismic.

The 425 km Rufus 2D Seismic survey in AC/P 25 was completed in August. Processing is underway.




AC/P32


Interest holders:
Bounty Oil & Gas NL 17.33%
Westranch Holdings Pty Ltd 32.67% (Operator)
OPIC 25%

Arc Energy Limited 25%



On November 22, 2004 Bounty reached an agreement with Arc Energy Limited (Arc) which gives Arc the right to earn a 25% interest in the permit by funding 37.5% of the upcoming Magnolia oil exploration well, plus a portion of seismic costs. This agreement reduced Bounty's interest in the permit from 26% to 17.33%.

The Magnolia well will be drilled in February/March 2005, subject to rig scheduling. The agreement is subject to the relevant authority granting a suspension to the current permit terms to a date sufficient to allow the drilling and the Joint Venture has applied for this suspension. Discussions are underway with the Northern Territory Department of Business, Industry and Resource Development.

During 2003, the AC/P 32 Joint Venture purchased 170 km2 of 3D seismic covering the central portion of the permit. The subsequent interpretation of this data, in conjunction with the integration of over 2,000 km of recently reprocessed 2D seismic, has provided the Joint Venture with a comprehensive technical review of the permit. Additional data, through the 125 km Lara 2D seismic survey, was completed in August 2004. Processing and interpretation of this data and the newly reprocessed Onnia 3D data is complete and is being integrated with the existing data.

AC/P 32 provides additional access to the petroleum migration pathways and reservoir catchments along the southern and eastern margins of the Vulcan Sub-Basin.

Work has suggested the presence of two functioning hydrocarbon generation systems additional to the established late Jurassic marine source rocks - adjacent to the AC/P 32 permit. These include a Lower-Middle-Jurassic terrestrial source rock system (which is the most likely source of the oil at the Montara Field complex adjacent to AC/P 32) and a Permian hydrocarbon generative source rock which appears to have charged the Osprey-1 location in AC/P 25, updip and north east of AC/P 32.

Mapped structures in AC/P 32 at the Base Cretaceous horizon within the Late Jurassic (Montara Sandstone) section and at the top of the Middle Jurassic Plover Sandstone section, have the potential to access the three separate hydrocarbon charge systems. All systems may generate oil/gas/condensate at different stages within or adjacent to the AC/P 32 acreage, improving the chances of commercially recoverable volumes.

The 2003 work has matured a number of prospects and leads at the Late Jurassic Montara Formation level which are considered to be potentially economic in size. The Magnolia and Wisteria prospects may hold up to 85 mmbo and 52 mmbo recoverable respectively. In addition, the Azelea lead - at the shallower Cretaceous Puffin sandstone level - has potential for 234 mmbo recoverable. While Azelea is a higher risk, stratigraphic play, it could be tested as a secondary objective while drilling a well at Wisteria.

The work has also identified a potential prospect updip of the Longleat-1 well, which had good oil shows within the Montara sands.

A number of other leads have been mapped in the area, but additional work will be contingent on drilling success at Magnolia or Wisteria