Senecio-3 Success Adds Momentum for Gas Field Development in Perth Basin

AWE Limited, as Operator of Permits L1/L2 in the Perth Basin, Western Australia, disclosed Tuesday that as at 06:00 hours (6.00am) AWST today, the Senecio-3 appraisal well was at Total Depth (TD) of 11,056 feet (3,370 meters) and data collection from the primary target and underlying formations has been completed. Operations are now preparing to run 5.5 inch casing prior to suspending the well.

As previously reported, the primary target Dongara/Wagina formation was intersected from 8,645 feet (2,635 meters) to 9,051 feet (2,759 meters) on prognosis. Elevated gas shows were observed and the Senecio-3 well was deepened to 11,056 feet (3,370 meters) to appraise secondary targets. Multiple hydrocarbon bearing formations have been encountered and results of the initial evaluation of well data are summarized below.

Upside in Dongara/Wagina Reservoir

Data from the primary target Dongara/Wagina tight sand reservoir indicates better porosity and permeability than the Senecio-2 well. Interpretation of the wireline log data indicates the section down to at least 8,759 feet (2,670 meters) is gas saturated with evidence of moderate to good quality reservoir. Contingent Resources are estimated to be from 40 to 130 billion cubic feet (Bcf) of gas gross, based on the well data and existing 3D seismic. The best estimate 2C Contingent Resource has been revised upwards to 70 Bcf gross.

Signficant New Gas Play Discovered

Wireline logs and pressure tests have identified a significant gas discovery in the deeper sands below the primary target, which has the potential to contain a substantially larger volume than the gas accumulation in the Dongara/Wagina. Senecio-3 intersected the Carynginia Shale from 9,051 feet (2,759 meters) to 9,511 feet (2,899 meters), the Irwin River Coal Measures from 9,511 feet (2,899 meters) to 10,344 feet (3,153 meters), the Kingia Sandstone from 10,344 feet (3,153 meters) to 10,472 feet (3,192 meters), and the High Cliff Sandstone from 10,472 feet (3,192 meters) to 10,935 feet (3,333 meters) before reaching a total depth of 11,056 feet (3,370 meters) in the Holmwood Shale.

All formations had elevated gas shows and several moderate to good reservoir quality sandstone intervals were encountered in the Kingia and High Cliff Sandstone formations. Wireline pressure data have subsequently confirmed a gas gradient over the two sandstone intervals. The Kingia/High Cliff Sandstone results indicate the discovery of a significant new gas field which the joint venture plans to appraise on a high priority basis. Additional analysis is required before estimating Contingent Resources for this discovery.

Bruce Clement, AWE’s Managing Director, said:

“This is a very exciting discovery that adds considerable momentum to the near-term development potential of the Senecio gas field and other nearby prospects in the north Perth Basin.

“The positive appraisal of the Dongara/Wagina reservoir and the discovery of a potentially larger new gas play in the deeper sands have increased the likelihood of commercial development of the Senecio gas field, particularly given the proximity to existing infrastructure,” Clement said.


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