Avent Energy Limited

Advent Energy Limited permits and related interests, 2015
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Bonaparte Basin (NT/WA)

Northern Territory/Western AustraliaAdvent Energy holds a 100%  interest in EP 386 and RL 1 in the onshore Bonaparte Basin in Northern Australia through wholly owned subsidiary Onshore Energy Pty Ltd. 

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The Bonaparte Basin is a hydrocarbon-bearing sedimentary basin straddling the border between the Northern Territory (NT) and Western Australia (WA). Most of the basin is located offshore, covering 250,000 square kilometres, compared to just over 20,000 square kilometres onshore.

Conventional Resources:

The prospectivity of the Bonaparte Basin is evident from the known oil and gas fields in both the offshore and onshore portions of the basin. However, despite the confirmation of a proven hydrocarbon system for both oil and gas, the basin remains lightly explored. Further discoveries can be confidently predicted on the basis of the high rate of success in the recent past.

Three modest gas discoveries have been made along the western edge of the basin, in an area characterised by a structural-stratigraphic trapping and active migration known as the Waggon Creek Embayment. In addition to further appraisal of the leads and prospects in the embayment, Advent intends to direct its efforts at locating and maturing higher risk-higher return shallow oil plays in the shale dominated late Devonian to early Carboniferous section where a number of promising leads have been identified. In EP 386 the three main discoveries made so far, Vienta, Waggon Creek and Bonaparte, contain estimated recoverable gas resources of 8 BCF, 12 BCF and 4 BCF, respectively.

Retention Licence 1 (RL-1) in the Northern Territory is166 square kilometres in area and comprises the Weaber Gas Field. The Weaber Gas Field was discovered in 1985 but has not been brought into production.

In 2011, Advent undertook a review of all available well data from the Weaber wells, reprocessed all available seismic data covering the gas field and re-mapped the field. An independent assessment was completed by respected petroleum industry consulting firm RISC Pty Ltd.

The 2C Contingent Resources (as defined under the Society of Petroleum Engineers Petroleum Resource Management System - SPE PRMS) for the Weaber Gas Field are 11.5 billion cubic feet (Bcf) of natural gas following the independent assessment by RISC. Significant upside 3C Contingent Resources of 45.8 Bcf have also been assessed.

Weaber Field

1C

2C

3C

Mean

Gas Initially In Place (Bcf)

0.33

13.9

54.1

21.9

Contingent Resources (Bcf)

0.25

11.5

45.8

18.4


Unconventional (shale gas) Resources:

This project comprises a potentially significant multi-TCF unconventional shale gas project situated within a known hydrocarbon producing area with developed nearby infrastructure.
Elevated gas shows have been experienced during past drilling (which was undertaken prior to the current shale gas reconnaissance).

Studies indicate significant potential upside in prospective shale gas resources with estimated unrisked original gas in place (OGIP) in the range from 19 TCF to 141 TCF. The thickness of the prospective shale gas play varies from 300m to over 1500m.

EP386/RL1 Shale Gas Study's Key Findings Are:-

  • Multiple petroleum targets are present in EP 386 & RL1:
  • Proven conventional gas charged sandstone reservoirs in nearshore marine area of the Milligans Formation;
  • Unconventional gas-condensate shale play in the shallow marine areas of Lower Milligans Formation;
  • Unconventional tight gas sandstone and limestone reservoirs in the Langfield, Ningbing & Cockatoo groups below the Milligans Formation;
  • Lower Milligans Formation shale is prospective for shale gas play with considerably large upside potential;
  • Marine shale with moderate organic richness: TOC of up to 4.3% from samples in wells within or in close proximity of EP 386. Higher TOC could be present in the deeper offshore area north & east of EP 386;
  • Source rocks are mature for gas and oil generation: Ro range 0.44-2.42% & Tmax range from 430 to 480;
  • Limited geochemical data indicates source rocks at depth shallower than c. 1400m are mature for gas/wet gas and oil generating windows, but over-mature and in the dry gas generating window at depth below 1400m;
  • The thickness of the prospective shale gas play is varied from 300m to over 1500m.
  • This would provide significant upside in prospective shale gas resources; and
  • Unrisked OGIP for EP 386 & RL 1 could be in the range from c. 19 TCF to 141 TCF.

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