The grant of the EP 432 permit is a result of the settlement of Native Title Agreements over all of the Company's Perth Basin applications for Petroleum Permits.
The main prospective area within the EP 432 permit is the large Mullering-Cataby Anticlinal Trend. The prospectivity for oil is demonstrated by the Cataby-1 well (1994) drilled off structure which encountered good oil shows and a 2.5 meter sand at 1690 meters which flowed approximately 25 to 30 barrels of oil per day during a drill stem test.
The Jurassic-aged Cattamarra Coal Measures sandstone reservoir in the Mullering-Cataby area is sealed by a 200 meter thick sequence of shales which are thick enough to also provide lateral seal across the many crestal faults on the Mullering-Cataby structural complex.
Interpretation of seismic data over the Mullering-Cataby Anticline has defined ten leads. Potential recoverable oil reserves of these leads range from 5 to 10 million barrels each.
The EP 432 permit area is the subject of a farmout with a USA investment company which is to raise US$11.35 million to farmin to Empire's onshore oil and gas Perth Basin prospects. This farmin includes acquiring a 100 square kilometer seismic survey over the Mullering-Cataby Anticline in the EP 432 permit. It is considered that 3D seismic will resolve the complex faulting and substantially reduce the structural risk in the planned drilling. The recording of 3D seismic in the Perth Basin has recently been highly successful in discovering a number of oil and gas fields in the North Perth Basin.
Empire Oil & Gas N.L. considers that EP 432 is very prospective for discovering new oilfields and looks forward to commencing exploration. The Company is due to be granted Application 5/98-9, also located in the Onshore North Perth Basin, by the Western Australia State Government.
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