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

Drillsearch has entered into the tender phase for 3D seismic acquisition in ATP 539P and ATP 549P in the Inland-Cook Oil Fairway. This fairway remains in the early stages of the exploration cycle with the Company hopeful of demonstrating a similar play concept to what has been proved so successful on the Western Flank Oil Fairway.