TEE kicks off 2D seismic acquisition program in QLD
Our gas exploration Investment Top End Energy (ASX: TEE) is now running its 2D seismic program at its QLD gas project.
TEE kicked off the program on the 19th of July and expects the program to be completed by the end of this month.
The seismic data will be used to firm up a drilling location for the project.
TEE expects to be drilling in H1-2024.
What do we know about TEE’s QLD project?
- Existing prospective resource - TEE’s QLD project already has an independently verified prospective resource of 715 bcf (billion cubic feet) on a gross mean unrisked basis. TEE could look to increase this after the current round of seismic is completed.
TEE’s project has three key targets:
- Prospective Area 1: 715Bcf prospective resource. TEE is looking to see if the existing formations that host the nearby proven Gilmore gas field extend into TEE’s ground.
- 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.
- Existing 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 🔄
TEE is now running its 2D Seismic data acquisition program.
The program is expected to be completed by July 2023.
