Australia
Australian Worldwide Exploration Ltd. and CalEnergy Gas (UK) Ltd. agreed to sell gas from yet-to-be-developed Yolla field 150 km off northern Tasmania to Origin Energy Retail Ltd.
Associated company Origin Energy Resources Ltd., a partner in the Bass basin field, would buy AWE's 30.5% and CalEnergy's 20% shares of the 260 PJ of Yolla gas over 15 years. Gas from the $400 million (Aus.) project would go into the Victorian grid.
The project would produce 13.5 million bbl of condensate and 1,000 kilotonnes of LPG during 15 years and starting in 2004.
Reserves are 309 PJ at Yolla and 50 PJ at White Ibis. The T/18P permit has two undrilled prospects (Trefoil and Chappel) that may add reserves. Gas and liquids, produced from formations at 6,000 ft and 9,500 ft, would be landed in eastern Victoria via a multiphase pipeline and processed.
California
Production Specialties Co., Woodland, Calif., plans to drill a Cretaceous test along the Coalinga anticline in the northern San Joaquin basin.
The 13,000-ft test to the Cretaceous Brown Mountain sandstone is to be spudded by May 31 on a farmout from Greka Energy Corp., New York. A 16 sq mile 3D seismic survey acquired from Chevron Corp. showed four positive amplitude anomalies, Greka said.
Brown Mountain is similar to the gas-productive Blewett sandstone in the Sacramento basin, Greka said.
