In April of 2010, Advent Energy secured the services of the Ocean Patriot semi-submersible drilling rig for its exploration programme within PEP11, offshore Sydney Basin. Advent Energy secured the rig through an assignment of the Apache Energy drilling contract with the rig’s owners Diamond Offshore LLC. The ability to secure such an agreement with two considerably sized global entities is testament to the quality of Advent Energy’s executive team.
The New Seaclem-1 exploration well is targeting the Great White and Marlin prospects which have been estimated to contain a combined 4.1 Tcf undiscovered natural gas resources in place at the P50 or ‘best estimate’ level. These figures were estimated by Tanvinh Resources Pty Limited following a review of Advent’s recently reprocessed seismic data. This target is in addition to the other areas already identified.
The ‘Ocean Patriot’ will be towed from waters offshore Victoria to the PEP11 area.
Drilling operations are anticipated to commence in the fourth quarter of
2010 and take approximately 25 days to complete. In the event of success, further appraisal wells will be considered prior to development modelling. Provision of a cleaner source of energy to NSW power providers would contribute to Australia’s commitment to reduce its carbon footprint.
We trust you enjoy your participation in this stimulating and historic occasion and look forward to exciting developments in the forthcoming year.
Yours faithfully
Mr Hock Goh
Chairman
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