PEL 155

PEL 155 - (Rawson Oil and Gas 100%, Operator)

Rawson, through our 100% subsidiary Otway Energy, operates Petroleum Exploration Licence (PEL) 155.

  • Five year license, currently in Year 3

  • Covers an area of approximately 226 km2

  • 35 km2 3D seismic acquired in 2008

  • Both conventional and unconventional prospectivity

  • Conventional prospect defined on 3D seismic, with numerous additional leads defined on 3D and 2D seismic

  • The exploration licence is located in the Otway Basin, South Australia, approximately 10 km southeast of the Katnook Gas Fields, near the town of Nangwarry, South Australia. PEL155 is prospective for both conventional and unconventional exploration.

 
Conventional: The Nangwarry Prospect is a two-way dip two-way fault dependant trap in the Pretty Hills Formation and is defined on 3D seismic. The Nangwarry Prospect is considered analogous to the nearby Katnook, Haselgrove and Ladbroke Grove fields which have produced substantial quantities of gas since discovery. The recent re-evaluation of existing 2D and 3D seismic identified four additional conventional leads, providing attractive follow-up targets in the event of a discovery at Nangwarry.
 
 
Unconventional: The licence is well positioned over the Penola Trough, which has been the subject of recent unconventional drilling in adjacent blocks. The Casterton Shale is early mature for oil on flanks of the Penola Trough (down to 2100 m).
 
Intra-Pretty Hill Formation shales extend into the mid-mature oil window at the Sawpit-1 well, and are expected to be late mature for oil or gas mature in the central Penola Trough. The top of the Laira Formation is marginally early mature for oil in central Penola Trough. The formation deepens towards the south in PEL 155 where maturity is expected to increase. The Glenaire-1/ST1 well had poor to good gas shows in Laira Formation, where a short term production test in the Laira Formation recovered 16 barrels of oil (free flow and swab). Influx during test suggested a production rate of 5-20 barrels of fluid per day (bofd) was possible. The lower Eumeralla Formation is possibly early mature in southern parts of PEL 155.