Cooper Energy Limited announced Thursday that it has upgraded its net 2C Contingent Resource estimate in the Sole field to 121 petajoules (PJ) following reinterpretation of the results of special core analysis of the reservoir section in the Sole-2 well in VIC/RL3 in the Gippsland Basin, Australia.
The Contingent Resource estimate (refer table below) has been determined by Cooper Energy and was completed Nov. 26.
Contingent Resource Estimate in Kingfish Formation, Sole Field, Offshore Gippsland Basin, Victoria
^ Gross: Contingent Resources attributed to 100 percent joint venture interest in VIC/RL3.
The Sole gas project is located 28 miles (45 kilometers) offshore Victoria in water depths ranging from 393 feet (120 meters) to 426 feet (130 meters).
Participating interests in VIC/RL3 are:
The joint venture partners have commenced Front End Engineering and Design (FEED) and the studies are progressing on schedule and within budget, for the Final Investment Decision on development in the September quarter of 2016 to supply gas to eastern Australia from early 2019.
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