Key Petroleum upgrades Cooper basin Alfajor prospect

Key Petroleum Ltd., Perth, has completed remapping of its Alfajor prospect in its 100%-owned and operated southern Queensland Cooper basin permit ATP 924 resulting in a material upgrade to potential recoverable gas resources within the primary target Permian-age Toolachee formation reservoir.

P50 prospective recoverable gas resources are estimated at 97.1 bcf. A P90 estimate is 33.9 bcf while P10 is 227.4 bcf, with a mean of 122.5 bcf.

Additional prospective resources may be ascribed within the prospect to overlying Jurassic Eromanga basin closures including the Hutton sandstone, the company said.

Alfajor prospect is now mapped as a prominent, relatively high relief structure with 4-way dip closure and enhanced trapping geometry due to drape closure over an early Permian glacial landscape of mesas and intervening steep valleys. The prospect is adjacent to the proven hydrocarbon generative Windorah Trough.

The early drape closure may mean that Alfajor was favorably positioned to capture migration of hydrocarbons from early phases of generation in Windorah Trough.

Key said the closure as mapped has limited or no faulting affecting the main closure. The company’s interpretation based on the new 3D data suggests the formation and reservoir characteristics for the trap may be analogous to the producing Barrolka gas field about 50 km to the southeast.

The prospect is about 40 km from the Carpentaria gas trunkline.

Key is finalizing a location to drill a 2,800-m deep wildcat to evaluate the Alfajor prospect. The company expects to complete preparations, including well planning and permitting, for drilling by mid-2022.