Otway Basin

MapEnergetica's 62.5% owned subsidiary, Otway Energy Limited is an oil and gas exploration company which was incorporated on 16 March 2010. Otway Energy has 100% interests and operates two Petroleum Exploration Licences, PEL 154 and PEL 155 in the Otway Basin. These licences were acquired from Rawson Resources Limited (ASX Code: RAW) and Energetica Resources for shares in the Company. Rawson Resources was first granted the exploration licences in 2003.

These two exploration licences are located in the south eastern corner of South Australia. The Tenements cover approximately 2,308 square kilometre and stretch from the Victorian border westwards to the Southern Ocean. They are located to the north of the regional city of Mt Gambier and to the south of the producing Katnook area oil, gas and condensate fields.

Three prospects have been worked up from the recent 3D seismic survey work conducted by Energetica and are now ready for drilling. Two of these, the Benara Prospect, in PEL 154, and the Nangwarry Prospect, in PEL 155, are planned to be drilled in the initial drilling program later this year. The Benara East prospect and other leads will be the focus of further exploration. There are over twenty leads identified in the Tenements which will be addressed by future exploration.

Energetica is also investigating the shale gas potential of both licences, particularly within the Casterton Formation and other younger gas-prone units. Other companies, including Somerton Energy and Beach Petroleum have been recently attracted to the shale gas potential of the Otway Basin.


» Otway Energy website

 

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