Bass Basin

These permits are located off the north coast of Tasmania, in an area of the Bass Basin known as the Durroon Sub-basin.

 

The Durroon Sub-basin extends north from approximately 15 km off the north coast of Tasmania, in water depths ranging from 35 to 80 metres. The T/42P and T/43P permits cover approximately 6120 sq km and have been little explored in the past. BAS mapping has defined a number of prospects, each with the scope to contain several hundred million barrels of recoverable oil. Basin modelling indicates that the area has the potential to have generated large quantities of oil and gas.

 

Since being granted these permits in 2006, BAS has conducted a comprehensive modern exploration programme in T/42P and T/43P - the first exploration effort in this area since the early 1990s. BAS’s programme has consisted of:

 

·          recording, processing and interpreting the 1192 km Targa seismic survey

·          reprocessing and integrating 790 km of existing older seismic

·          modelling the petroleum generation potential of the area

·          analysing and integrating previous exploration results and data

 

The results of this programme are highly encouraging for the BAS permits. In summary:

 

·          the area is interpreted to contain a series of petroleum ‘kitchen’ areas which have the potential to have generated large volumes of oil and gas

·          an inventory of large prospects has been defined on high quality data and a number of play types have been identified

·          basin modelling indicates short and direct migration pathways from the kitchen areas to prospects

·          the interpreted timing of generation and trapping supports potential for untested accumulations

·          prospect integrity is interpreted to have been maintained since migration, preserving any accumulation

·          seismic mapping indicates that the two wells previously drilled in this region did not test valid traps and basin modelling indicates that these wells were not located on migration pathways

 

Having invested in defining and developing the understanding of this opportunity, BAS is seeking industry partners to assist in funding future exploration operations. This is consistent with BAS’s strategy of applying its geoscience skills and experience to create value in these prospective and under-explored permit areas.