Oil Basin’s proposed Backreef-1 is not a Devonian reef play type like the nearby produced Blina field in L6 in the onshore Canning Basin. It is a high-risk high reward “stratigraphic trap” play-type. Importantly, this stratigraphic play type remains untested in the Canning Basin.
According to Oil Basins: “The area encompasses the northeast flank of the Blina reef trend and is interpreted to contain the Blina Backreef play. The trend is a sequence of talus slope carbonate rocks shed off an extensive Late Devonian reef trend which hosts the Blina oilfield in L6.
Down-dip and below the reef trend/talus slope deposits is a sequence of oil prone black shales from which it is generally interpreted that oil migrated into the Nullara and Yellow Drum Oil Pools at Blina.
The talus slope deposits of the Blina Backreef play have experienced a differing geological history to the reef rocks that host the Nullara Oil Pool and, as a consequence, may contain better porosity and permeability, i.e. better reservoir characteristic.”
We are not a great fan of Oil Basins management but there is no doubt it is an attractive play that could put some much needed oomph into the OBL share price ahead of drilling. In other words a classic besbs play.
