Energy Resources JV offered exploration permits onshore Carnarvon basin

Energy Resources Ltd. (EnRes), Perth, and its joint venture partner Buru Energy Ltd. have been offered two new exploration permits in the onshore North Carnarvon basin of Western Australia to the south of Onslow.

The permits, L22-2 and L22-4, lie immediately south of the existing EnRes-Buru permit EP510.

The new permits were part of a recent Western Australian Government petroleum acreage release and have been offered to EnRes as operator and 75% interest holder with Buru holding the remaining 25%. Granting of the permits is subject to completion of the Native Title agreements.

L22-2 covers an area of 4,908 sq km and contains the southern extension of petroleum plays in EP510. The permit is prospective for both oil and gas.

L22-4 overlies the northern extent of the under-explored Merlinleigh subbasin and covers an area of 6,444 sq km. Several potentially large structures have been identified prospective for gas.

The JV is planning to drill two exploration wells in EP510 in 2024. The addition of the two new permits makes the JV to largest acreage holder in the onshore Carnarvon basin and Merlinleigh subbasin and is expected to facilitate optimization of exploration activities in the region.

All permits are near the Dampier-Bunbury natural gas trunkline.