ATP 539P – Queensland Cooper Basin

Drillsearch 100% (subject to farmin interests)

ATP 539P lies in a very strategic position on the western flank of the Queensland portion of the Cooper Basin, where it is well placed to receive hydrocarbons migrating to the west out of the adjacent basin deep (depocentre). ATP 539P was originally granted on 29 January 1993 and was transferred to Great Artesian in 2003. The Permit was renewed for a further 4 Year Term from 1 February 2005 expiring on 31 January 2009. Work Commitments include a carryover well from the previous permit term and an additional well during the current term.

ATP 539P, and the adjacent ATP 549P (West Block), contain the regional Curalle Anticline – a large structural high and regional focal point for migrating hydrocarbons from both the Arrabury Trough, to the south and southwest, and the Windorah Trough to the east. ATP 539P lies up-dip from the Inland Oil Field, the field testifying to the presence of commercial quantities of hydrocarbons in this portion of the basin. Previously, minor oil and condensate shows recovered from the Curalle-1 well indicated that hydrocarbons have also moved into the crestal areas of the Curalle Anticline, a trend which dominates the western margin of the Cooper Basin in the southern portion of the Permit.

ATP 539 lies up-dip from the Inland Oil Field, the field testifying to the presence of commercial quantities of hydrocarbons in this portion of the basin. Previously, minor oil and condensate shows recovered from the Curalle-1 well indicated that hydrocarbons have also moved into the crestal areas of the Curalle Anticline, a trend which dominates the western margin of the Cooper Basin in the southern portion of the Permit.

Geological studies suggest that hydrocarbons migrating out of the deepest portions of the Cooper Basin would move up-dip and congregate in structures along the western flanks, such as occurred at the Inland Field. The occurrence of gas at McKillop-1 and a significant (50m interpreted palaeo-oil column) at Wyerie-1 in ATP 549P, in locations structurally down-dip (lower) than the Curalle Anticline in southern ATP 539P, also supports the concept that hydrocarbons have progressively moved westwards into higher structures in this area.

As part of a 2004 farmin agreement Traditional Oil (Enterprise Energy) acquired the 89 km Planet Downs 2D seismic survey in 2004.  That survey, covered the Planet Downs lead, a sub-culmination on the Curalle Anticline downdip from the Curalle-1 well and closer to the source of migrating hydrocarbons. Traditional has agreed to carry out further work to earn an interest in ATP 539P.