AWE Optimistic About Gas Reserves at Senecio, Waitsia Fields in Perth Basin
“AWE believes the Senecio/Waitsia discovery could represent the largest onshore conventional gas discovery in Western Australia since the Dongara gas field was discovered in the 1960s.
“Initial evaluation of the Senecio and Waitsia fields has identified 360 Bcf of gross Contingent Resources, which could be brought onto early production, utilizing existing gas plant and pipeline infrastructure just 4.3 miles (7 kilometers) from the Senecio-3 location.
“There is also substantial upside to this initial estimated gas volume that could be realized by successful appraisal of the Waitsia discovery and exploitation of the unconventional gas potential identified in the Carynginia Shale and the Irwin River Coal Measures.
“We are now focusing on flow testing of Senecio-3 to establish commercial viability and the potential early, low cost development of the Senecio and Waitsia fields.
“If successful, this could deliver significant additional gas into the Western Australia domestic market and provide substantial value to AWE shareholders,” Clement said.
The Joint Venture partners in L1/L2 are:
- AWE Limited (via subsidiaries) (Operator) - 50.0 percent
- Origin Energy Resources Limited - 50.0 percent
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