Worldwide, there are over 100 giant and super giant oil & gas fields with similar source and reservoirs to the Canning Basin.
These large oil fields are characterised by their thick salt seal plus their source, reservoir, trap structure & timing characteristics all shared by the Canning Basin.
The Canning Basin can be likened to other previously neglected oil & gas basins where new exploration efforts have been successful. These include:
- Apache Corporations activity in the Western Desert of Egypt where oil production has now reached 100,000+ barrels per day.
- Anadarko Petroleum Corporations work in Illizii Basin of Algeria, where oil production is over 100,000 barrels per day.
- ARC Energys Perth Basin activity in Western Australia, where oil production is now at 3,000 barrels per day.
Bring on the NSAI report!
NSE Price at posting:
21.0¢ Sentiment: None Disclosure: Held
