Australia VIC/P74
3D Oil (50%) and their partners Carnarvon Hibiscus Pty Ltd (CHPL) are seeking invetsment to drill a number of prospects mapped on recent CGG 3D siemsic data.
• Proximal to existing major discoveries such as Bream and Kingfish, the largest oil field in Australia, VIC/P74 is located in shallow waters (50-75m).
• Significant gas potential has been identified within the Golden Beach Subgroup across 4 major leads.
• Bigfin is the largest structure, having a closure of ~28km2 and a Best Estimate Prospective Resource of 502BCF.
• An additional 3 leads within the Golden Beach have a total Best Estimate Prospective Resource of 785BCF.
• Two of these Leads are also considered prospective for oil within the Upper Latrobe Group with a combined Best Estimate Prospective Resource of 98MMbbls.
• The purchase of state-of-the-art 3D seismic reprocessing across the permit has significantly improved subsurface imaging and depth conversion accuracy across the area.
• The JV has fulfilled the Primary Term work commitments (ending 07/2022) and is seeking a farminee to fund commitments in the Secondary Term.