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Increase in Estimated Prospective Gas Resources for PEP11 Offshore Sydney Basin
July 6, 2010 8:57 AM
Advent Energy Ltd ("Advent") is pleased to advise that is has received technical reviews from Tanvinh Resources Pty Ltd and Pangean Resources LLC supporting a significant increase in the estimated prospective recoverable resources within the PEP 11 Offshore Sydney Basin.
Following these reviews, Advent have provided an increase in the 'best estimate' (P50 level) to 13.2 trillion cubic feet (Tcf) of prospective gas resources. Prospects and leads within the Permo-Triassic sedimentary sequence were estimated to contain 6.0 Tcf (P50) whilst estimates for the Cainozoic sedimentary sequence are 7.2 Tcf (P50).