Geographe Gas Discovery, Offshore Otway Basin, Victoria

abarrelfull wrote on 12 Mar 2015 14:05
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21 June 2001

Origin Energy Resources Limited, as Operator of petroleum exploration permit VIC/P43, advises that the Geographe 1 exploration well has identified a significant new gas resource in the offshore Otway Basin.

Wireline formation samples have now been recovered from Geographe 1 at three levels (1831.7mRT, 1896.4mRT, and 2015.8mRT), with gas having been recovered from each. Preliminary analysis of the samples indicates that the gas has an inert level ranging from 6 to 8%. Condensate and LPG content is still pending final analysis.

The Geographe field is located 55km off the Victorian coastline in 85m of water, and approximately 15 kilometres north of the Thylacine discovery in adjacent permit T/30P. The Geographe structure comprises two related culminations, with Geographe 1 being located on the more southerly of these. Preliminary volumetric estimates indicate an in place gas resource for the southern culmination of approximately 500bcf. Further drilling in the northern culmination could increase the in place gas resource to more than one trillion cubic feet.

Geographe 1 is being cased and suspended for potential completion as a producer at a later date.

Equity participation, subject to completion of documentation and receipt of regulatory approvals for farmin agreements reached between Origin Energy Resources Limited, Woodside Energy Ltd, and CalEnergy Gas (UK) Ltd, is as follows:

• Origin Energy Resources Limited: 30%
• Woodside Energy Ltd: 55%
• CalEnergy Gas (UK) Ltd: 15%

Drilling operations for the Geographe 1 well are being managed by Woodside Energy Ltd under an agreement with Origin Energy.

• Geographe Gas Discovery, Offshore Otway Basin, Victoria

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