Three gas prospects - prospective resource assessment ongoing
This morning our domestic gas exploration Investment Top End Energy (ASX: TEE) put out an update on its Queensland gas projects.
In the update, TEE detailed three primary gas targets that could be tested in future drilling programs.
For now, TEE is focusing on putting out a prospective resource estimate and is considering running an additional 2D seismic data acquisition program to firm up drilling targets.
The three targets are as follows:
- Prospective Area 1 = Large closure (~278km^2). 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.
What’s next:
TEE is now looking into the prospective resource potential of the first prospect (Prospect area 1) with the ultimate view of firming up a high priority drilling location.
We also note that TEE is considering an expanded 2D seismic data acquisition program, which would cover all three prospects and be shot in Q1-2023.
The benefits of running an additional seismic data acquisition program would be that TEE could refine its drilling locations to test those areas that it thinks have the highest chance of success.
We will now be watching to see just how big of a prospective resource TEE can put together before considering the implications of a drilling program here.
