Permit Summary

ATP 539P is located in the north-western area of the Queensland Eromanga Basin. The area around the permit consists of the Yamma Yamma Depression and Windorah Trough to the southeast, the Arrabury Trough to the south, and the Ullenbury Depression to the east. The Curalle dome lies within the southern area of the permit and the Morney anticline lies to the east of the permit.

The Curralle dome trend dominates the western margin of the Cooper Basin. It presents a regional focal point for hydrocarbons migration. Hydrocarbon migration appears to be from the Arrabury and the Windorah Troughs. Geological studies suggest that hydrocarbons migrating out of the deepest portions of the basin move up-dip and congregate in structures along the western flanks, similar to that of the Inland Oil Field.
 
Previous wells drilled in the area have intersected oil shows in many of the target formations; however no commercial discoveries have been made in the permit.  The Inland oil discovery is on the flank of the Morney Anticline to the east and is a good analogue to use in the exploration of ATP 539P.

ATP 539P was initially granted on the 29th January 1993. The current term of the permit will expire in 2013. In December 2010 Drillsearch acquired additional interest in the permit and now holds 100%.

Recent Activity

The 600km² Kaden seismic survey that was undertaken across both ATP 539P and ATP 549P was awarded to WesternGeco who deployed their proprietary 'Uniq' 3D seismic acquisition system which incorporates some of the most advanced technology currently available to the onshore seismic industry. Prior to conducting the 3D seismic survey, the area was subject to Work Area Clearance which was performed by the Mithaka people as the Traditional Owners and Native Title Claimants for this area within South West Queensland.

The first Inland-Cook drilling program since early 2009 commenced with the spudding of Triclops-1 in early January 2013. The main objective of the well was to test the hydrocarbon prospectivity of the Inland-Cook Fairway by demonstration of oil migration from the Yamma Yamma Depression into the Western Flank of the southwest Queensland Eromanga Basin. The primary targets of the Triclops-1 well were the Hutton Sandstone and sands of the Birkhead Formation. Although hydrocarbon shows were observed in the Westbourne Formation and the Adori Sandstone, quantities were not commercial. The well was plugged and abandoned after drilling to a total depth of 1,926 metres.

The Ensign Rig 918 was released on 31 January 2013 and will move 14km north east to the final well in the drilling campaign, Tibor-1, which is expected to spud in early February 2013.