TEE completes 2D Seismic program at its QLD gas project

Our domestic gas exploration Investment Top End Energy (ASX: TEE) just finished its 2D seismic acquisition program at its QLD gas project.

TEE expects the data to be processed over the next four to six weeks.

Ultimately, the seismic data will be used to firm up a drilling location for the project.

TEE expects to be drilling in H1-2024.

Context on TEE’s QLD gas project?

The project has an existing 715 Bcf prospective resource - Independently verified prospective resource of 715 billion cubic feet on a gross mean unrisked basis. There is a chance the 2D seismic results lead to an increase in the prospective resource.

Project sits near a proven gas field - TEE’s project sits nearby the Gilmore gas field, with its drill program TEE will be looking to see if the same formations that host Gilmore extend into TEE’s ground.

Already has historical 2D seismic data - The new 2D seismic data is being used to infill existing data and improve TEE’s chance of success when it gets on the ground and drills a well.

What’s next for TEE?

Permitting in the NT 🔄

With the native title approval secured, we want to see TEE’s high priority EP 258 application granted.

Once granted, this would mark the first exploration permit (EP) granted in the Northern Territory since 2015.

See our late TEE note on the NT project here.

2D Seismic program in Queensland 🔄

Results from TEE’s 2D seismic program are expected within the next four to six weeks.