New seismic acquisition program over 715 bcf gas target in QLD
This morning our domestic gas exploration Investment Top End Energy (ASX: TEE) appointed 2D seismic contractors for its QLD gas project.
TEE has now locked in a 2D seismic acquisition program where the company will acquire ~120km of additional data.
The program will be run over TEE’s independently verified prospective resource, which came in at 715 bcf (billion cubic feet) on a gross mean unrisked basis.
The ultimate aim for the program is to improve the chance of success of TEE’s eventual drill program by optimising the drilling location.
TEE expects to make a decision on the drill program in H2 2023.
TEE’s prospective resource sits inside just one of three prospects at the company’s QLD project. The three targets are as follows:
- Prospective Area 1: Similar age structure to the previously producing Gilmore gas field. TEE has previously stated that the formations that host the Gilmore gas field may extend into TEE’s grounds.
- Prospective Area 2: This prospect needs additional 2D seismic data to firm it up as 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.
It comes as no surprise to us that TEE will be running the additional seismic acquisition program in and around the area where the prospective resource sits.
With the program designed to improve the chance of success ahead of a drilling decision in H2 2023, we look forward to any news on this front.
