more finds by jh

A new petroleum study has found that a massive area of outback Queensland and the Northern Territory could potentially play host to some of the country’s largest untapped reserves of oil and gas.
The findings are presented in a detailed technical paper titled “Prospectivity of the Southern Georgina Basin” released today by Perth-based Central Petroleum Limited (ASX: “CTP”).
Among the conclusions of the report are that the area within Central Petroleum’s four tenement applications in the southern part of the Basin – which equally straddles the Queensland-Northern Territory border but whose northern section extends well into the Territory – could host:
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Up to 650 million barrels of Undiscovered Oil Initially In Place (UOIIP), in addition to
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50 trillion cubic feet of Undiscovered Gas Initially In Place (UGIIP).
Most of the prospective reservoirs the report says, are likely to be trapped in the region’s Middle Cambrian geological structures.
“It is very early days yet and the Basin’s known strata is a profound mix of geological profiles and petroleum indicators,” Central Petroleum’s Managing Director, Mr John Heugh, said today.
“However, the technical report released today centralised, then analysed and rebuilt the estimate modelling from all known data on this Basin built up over nearly two decades,” Mr Heugh said.