oil??, page-29

Oil did someone say oil
Maybe another 48 hours and we may know?


ANYWAYS - while we wait.....
Some idea as to age connections for some Central Australia basins in the centre!

and From CTP site The Amadeus

"=The Amadeus Basin is under-explored with an exploration drilling density of only 0.2 wells per 1,000 km2.
This is low by world standards for a producing basin

=The Amadeus is second only to the Carnarvon Basin in terms of millions of barrels of reserves in oil equivalent discovered per exploration well

=Average well depth of exploration wells is only 1,900m
Of the 37 wells drilled, 5 produced gas on test to surface (Ooraminna, Dingo, West Walker, Orange and Magee)

=The major producing fields were discovered without significant seismic and drilling locations were based mostly on geological surface mapping

=Most seismic is concentrated in the northern part of the basin leaving about 2/3 of the basin with virtually no seismic at all including prospective sub-salt plays thought to be analogous with similar play types in the Siberian Platform, Schezuan Basin and Oman

=The NTGS has reported that up to 5,762 mm BOE (or 35 Tcf) un-risked indicative yet-to-find potential petroleum volumes are indicated and that

=Assuming a basin benchmark-finding rate of 11% (1 in 9) for Technical Successes then the ‘risked’ YTF equates to 634 MM BOE (or 3.9 Tcf)

=A number of proven oil and gas bearing reservoirs plays are present in the basin. The Heavitree Quartzite may contain important volumes of Helium. 6% helium was recovered from the Heavitree Formation in the Magee-1 well
717 BCFG and 24 MMbls of reserves have been discovered to date in the Amadeus with under 40 exploration wells

=There are up to five petroleum systems present including the Ordovician system hosting Australia’s largest onshore oilfield, the Mereenie Field and the Palm Valley gas field, and the Proterozoic System, which geologically is regarded as potentially analogous to the geology of the giant Proterozoic oilfields of eastern Siberia and the Sichuan Basin of North East China. The fields in these basins are very large and often occur in reservoirs under very efficient salt seals.

Salt is a very good seal thus it can be possible to retain oil accumulations from very old rocks under very efficient salt seals. The southern and western margins of the Amadeus Basin are expected to have potential for large accumulations of hydrocarbons under salt seals of the Bitter Springs Formation

=There are numerous untested structures and play types throughout the basin. The existence of salt diapirs in the southern and western regions of the basin is known from the 1960s vintage mapping and recently completed modern aeromagnetic interpretation

= Analogues to the Late Proterozoic oil accumulations of Oman are also thought to be potentially present. Of the four western Amadeus Basin wells that penetrated the Late Proterozoic Bitter Springs Formation, three encountered traces of petroleum. Oil shows have been also observed in the Johnny’s Creek Beds, the Loves Creek and the Gillen Members of the Bitter Springs Formation."

Just to highlight....

"The Amadeus Basin is under-explored with an exploration drilling density of only 0.2 wells per 1,000 km2."
Certainly will make a few majors take AIM at CTP if the OIL comes on strong.

The Amadeus Basin in Australia is still ONE of a few almost totally unexplored regions.

And its highly probable that if the OIL flows at Surprise next week, anything is possible in terms of starting the next OIL chapter of OIL production in NT.