Cooper Energy awarded new permit near Annie discovery

Cooper Energy Ltd., Adelaide, has been awarded Otway basin exploration permit Vic/P76 offshore western Victoria. The company’s recent Annie gas discovery lies across the permit’s western boundary with Vic/P44.

190918 Cooper Otway Map

Cooper Energy Ltd., Adelaide, has been awarded Otway basin exploration permit Vic/P76 offshore western Victoria.

The company’s recent Annie gas discovery lies across the permit’s western boundary with Vic/P44 (OGJ Online, Sept. 6, 2019).

Cooper has 100% of the new area that comprises 162 sq km in 60-70 m of water.

Cooper says there are no previous wells drilled in Vic/P76, but good quality 3D seismic data has indicated several amplitude-supported prospects. The most significant of these is named Nestor at the southern end of the permit. It has many similarities to the Annie discovery, including the Waarre C reservoir trap configuration and potential resource size.

Cooper has the permit for a 6-year term. The first 3 years will consist of geological and geophysical studies plus the drilling of one well.

The decision on whether to farm out a percentage will depend on the results of the initial work program.

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