Bass Strait Oil Company Ltd has been granted a new five year term for the Vic/P41 exploration permit, starting 29 November 2011. The Vic/P41 exploration permit is situated in the offshore Gippsland Basin, 40 km from the coast and southeast of the Victorian town of Orbost, Australia, with water depths ranging from 80 to 250 metres.
“With the increasing focus on eastern states gas market, the area is certainly worth perusing as it is primarily a gas play area.”, Bass Strait oil said.
The 540 km2 renewal area includes the Kipling and Benchley prospects along with Lead A. All three of these features are on trend with and analogous to the Kipper Field which is approximately 20 km to the west. The Oscar prospects are on trend and analogous to the Basker Manta Gummy fields 10 km to the west. The main section of the permit is covered by the existing Oscar 3D seismic survey which was acquired by the Joint Venture in 2005.
The primary term work program commitment is to acquire 3D seismic data over the Lead A area of the permit and then to undertake simultaneous seismic inversion of that data. This, together with the inverted Oscar 3D, will provide a consistent data set from which to determine the optimal exploration drilling target to test the Golden Beach play. The Vic/P41 joint venture is in continuing dialogue with potential farmin partners.
Offshore Energy Today Staff, December 2, 2011; Image: Bass Strait Oil Company Ltd