Norwest Provides Update On Waitsia Prospect In Perth Basin
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Norwest Energy has updated information on the Waitsia prospect in exploration permit EP368 of the Perth Basin. Norwest Energy has re-evaluated the oil and gas prospectivity of the Waitsia gas discovery after encountering significant hydrocarbon accumulations within the Lower Permian Kingia and High Cliff Sandstone formations. According to the company, structure has been mapped with a southern culmination, abutting the Allanooka Fault, and a northern culmination in the vicinity of well #1-East Heaton, which was terminated above Kingia. The prospect offers significant upside potential for sizeable oil accumulations within both Kingia at 2,470 m and High Cliff Sandstone at 2,570 m. According to the company, the gross prospective resources of Kingia and High Cliff range from 8.6 MMbbl to 61.1 MMbbl. The prospect is situated within a structural setting comparable to the Mt. Horner oil field, about 15 km to the west. Joint Venture partners in the EP368 exploration permit are Energy Resources Ltd. and Perth-based Norwest Energy (20%).
Norwest Energy has updated information on the Waitsia prospect in exploration permit EP368 of the Perth Basin. Norwest Energy has re-evaluated the oil and gas prospectivity of the Waitsia gas discovery after encountering significant hydrocarbon accumulations within the Lower Permian Kingia and High Cliff Sandstone formations. According to the company, structure has been mapped with a southern culmination, abutting the Allanooka Fault, and a northern culmination in the vicinity of well #1-East Heaton, which was terminated above Kingia. The prospect offers significant upside potential for sizeable oil accumulations within both Kingia at 2,470 m and High Cliff Sandstone at 2,570 m. According to the company, the gross prospective resources of Kingia and High Cliff range from 8.6 MMbbl to 61.1 MMbbl. The prospect is situated within a structural setting comparable to the Mt. Horner oil field, about 15 km to the west. Joint Venture partners in the EP368 exploration permit are Energy Resources Ltd. and Perth-based Norwest Energy (20%).