Australia

By OGJ editors
HOUSTON, June 24 – Oilex Ltd. finished interpreting 3D seismic data on the WA-388-P permit outboard of the Northwest Shelf project and on trend with Pluto, Wheatstone, and Gorgon fields off Western Australia.

Work completed in the past 4 months confirms that the seismic amplitude anomalies evident in the 3D data are likely direct hydrocarbon indicators suggesting the presence of gas by analogy with nearby fields and discoveries. Seven leads are identified ranging in potential size from 0.3 to 2.8 tcf of prospective recoverable gas resource.

The joint venture is considering options to further define the largest of the leads (Placanica) in preparation for possible drilling.

Interests in WA-388-P are Oilex 14%, Sasol Petroleum Australia Ltd. 30%, and Videocon Industries Ltd., Gujarat State Petroleum Corp. Ltd., Bharat PetroResources Ltd., and Hindustan Petroleum Corp. Ltd. 14% each.