ATP 259P - Queensland Cooper Basin

Drillsearch 2%

Project Summary

Drillsearch has a 2% interest in the Naccowlah Block and its associated production licences (PL). Located in the Cooper Basin of south-west Queensland the Block has an area extent of 3,111 sq km (768,740 acres). The Block includes 27 oilfields where the oil is predominantly produced from the Late Cretaceous Murta Formation, the Jurassic Birkhead Formation and the Hutton Sandstone.

For the year 2010, the Block contributes, on average, a monthly production of approximately 835,000 barrels and Drillsearch’s 2P reserves are 154,000 barrels. To learn more about the Naccowlah Block production and reserves review click here.

Due to the heavy rains that are causing floods in the Cooper Basin the majority of wells are  currently offline, but will come back online shortly.

Recent Activity

A large area of the Block is covered by several 3D seismic surveys including the recently acquired Jackson Naccowlah 3D and the Watson 3D. In the existing fields, there is a considerable amount of undeveloped potential in the Block, both for near field development (NFE) and additional development.

Drillsearch and joint ventures current schedule for 2010 is to drill 4 NFE wells and 1 evaluation well to 420,000 barrels of oil equivalent of risked 2P reserves.