New Zealand and Australia focused oil exploration and development company Mosman Oil and Gas Limited announced Monday that its Amadeus Basin project in the Northern Territory of Australia holds trillions of cubic feet of recoverable gas.
SRK Consulting (Australia) has finalised a report into the prospective resources contained in permit EP 145 which highlights the potential for both conventional oil and gas resources in proven reservoirs within the West Walker Anticline and unconventional gas resources in the Horn Valley Siltstone. The report outlines unrisked prospective resources of 12.44 billion cubic feet of conventional recoverable gas and 1.4 trillion cubic feet of unconventional recoverable gas within both plays.
Commenting on the report, John W Barr, the executive chairman of Mosman, said in a company statement:
“We are pleased with the prospective resource quantification from the SRK Report that highlights the significant gas potential in our Amadeus permits, which are located adjacent to existing producing oil and gas fields. Mosman believes the Amadeus Basin could one day be a potentially important strategic source of gas production for the East Coast of Australia and this report will greatly assist us in prioritising future exploration activity. Our exploration activities in the Amadeus Basin are being undertaken in a methodical and cost-effective manner and this same approach is applied across all our exploration licenses.”
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