Maiden prospective resource on QLD gas project
This morning our domestic gas exploration Investment Top End Energy (ASX: TEE) announced a maiden prospective resource estimate at its QLD gas project.
TEE’s independently verified prospective resource came in at 715 bcf (billion cubic feet) on a gross mean unrisked basis.
TEE is now looking to firm up its drilling targets by acquiring ~120km of new 2D seismic data in Q1 2023.
The prospective resource comes only a few weeks after TEE confirmed three primary targets at its QLD project.
Today’s prospective resource number comes from the first of these prospective targets (Prospective area #1).
The three targets are as follows:
- Prospective Area 1 = Similar age structure to the previously producing Gilmore gas field. TEE has in the past mentioned there is potential for the formations that host the Gilmore gas field to extend into TEE’s grounds.
- Prospective Area 2 = This prospect needs additional 2D seismic data to firm up into a potential drilling target.
- Prospective Area 3 = This is a possible extension of the Adavale basin to the east. This prospect also requires more 2D seismic data to firm up a potential drilling target.
TEE confirmed today that it is now negotiating land access agreements which is the precursor for its 2D seismic program.
