Rampart Energy (ASX:RTD) has received an independent estimate of prospective resources at its offshore WA-507-P exploration permit that confirms its potential to host multi-trillion cubic feet of gas.
Gaffney, Cline & Associates’ report indicated the three exploration leads delineated by the company indicated could host up to 21Tcf of gas.
This prospectivity is supported by Statoil’s recent $50 million firm work commitment in an adjacent permit.
In February, the National Offshore Petroleum Titles Administrator approved the transfer of an 80% working interest and operatorship of the permit to the company.
An emerging oil play exists in the block, based on hydrocarbon shows encountered in the Dalia
South-1 well, located in the south of the block.
Further geological studies are required to mature the oil play, and therefore at this stage the company has not requested GCA to provide an estimate of prospective oil resources for the block.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.
Rampart Energy (ASX:RTD) has received an independent estimate of...
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