Norwest Energy NL reported Thursday that the company has received the required Federal and State government regulatory approvals to proceed with its planned Arrowsmith seismic survey in EP 413 in the Perth Basin, Western Australia. Pursuant to the approvals, Norwest will conduct the survey under stringent Federal and State government processes.
The survey will be conducted within exploration permit EP413 over an area of 41 square miles (106 square kilometers) at the Arrowsmith locality, 155 miles (250 kilometers) north of Perth, between Eneabba and Dongara.
The objective of the survey is to assess the extent of the resource surrounding the existing Arrowsmith-2 well location and to assist in defining the optimal location and target formation for Norwest’s first horizontal well Arrowsmith-3.
Two separate intervals have been high-graded for potential development; the Carynginia Formation and the Irwin River Coal Measures. The seismic survey will provide further data to assist with defining the future development options of the Arrowsmith field.
It is anticipated that the seismic survey will commence before the end of 1Q 2015. Processing and interpretation of the data will follow, the results of which should become available during 3Q 2015.
The evaluation program for the Arrowsmith-2 well was finalized during 2014 with ongoing review and analysis of the resulting dataset continuing into 2015. The Arrowsmith field was ranked as a discovery after an independent evaluation by DeGolyer and MacNaughton, who ascribed the following resource estimates:
CEO Peter Munachen said “We are pleased to be given approval by the regulators to proceed with the survey. The results of the survey will make a significant contribution toward defining the commercial potential of the Arrowsmith project.”
EP413 Joint Venture
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