Triangle Energy Ltd., Perth, has finalized a review of prospects and leads in its 50%-owned onshore North Perth basin license L7 in Western Australia which surrounds the former Mt Horner oil field.
The review, undertaken following a January agreement with JV partner Key Petroleum Ltd. in which Triangle will acquire Key’s interest, confirmed up to 18 new oil prospects and four gas leads in the permit (OGJ Online, Jan. 29, 2021).
Work comprised a look at historical well results, including a petrophysical analysis and a study of Key’s previous mapping in the area.
Triangle will now move to a 100% interest in L7 and intends to evaluate the new prospects with a 3D seismic survey (Booker survey) to be run December 2021 into January 2022.
The Mt Horner-Booker Shelf region is a proven oil-prone part of the basin, Triangle said. New targets include low risk Mt Horner field infill wells and Jurassic exploration plays, moderate risk Wagina-Dongara formation exploration prospects, and higher risk Permian exploration.
The geological review confirmed a correlation of the Permian Kingia and High Cliff formation sandstone reservoirs in the permit which contain gas discoveries further south at Waitsia and West Erregulla fields, the company said.
Data acquired in the 3D seismic acquisition is expected to result in a multi-well exploration and appraisal program with potential to revive the Mt Horner surrounds as an oil producing area.