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Oil Basins

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OBL Oil Basins - Coal Seam Gas


Oil Basins Limited OBL.AX

Oil Basins Limited is involved in exploration for oil and gas in the onshore Canning Basin of Western Australia,
the offshore Gippsland Basin waters of south-eastern Australia, and the offshore Carnarvon Basin waters of Western Australia, all assets are situated in good hydrocarbon addresses and all are strategically close or adjacent to existing or future development infrastructure.

Oil Basins Limited holds a 100% of R3/R1 retention lease interest in offshore Carnarvon permit, which is located in the area of South Chervil and Cadell; a 100% beneficial right to the Backreef Area in onshore Canning basin permit; and a 50% rights in the Derby Block exploration permit.

OBL's
drill-ready exploration assets includes three (3) offshore and two (2) onshore petroleum exploration permits in Australia covering onshore and offshore oil exploration & development, USG/USO, & CSG as follows:
Upstream interests
100% Rights & Operator Backreef Area, onshore Canning Basin. In addition to a shallow Laurel oil play (950m), the Company has recently assessed a Tight Oil/USO potentially significant play within the deeper (3000m) Virgin Hills Sandstone/Gogo Shale within the Kimberley Downs Embayment.
50% interest & Operator USG, EP5/07-8 (Derby Block) onshore Canning Basin. OBL has delineated significant conventional oil & gas, CSG and USG/USO prospectivity in this 1.25 million acre permit.
100% interest & Operator R3/R1 offshore Carnarvon Basin undeveloped Cyrano Oil Discovery - estimated 2C resources circa 2.0 MMstb and estimated 3C resources circa 5.7 MMstb.
17.935% Interest in Vic/P41 situated in offshore Gippsland Basin
17% interest in Vic/P66 situated in offshore Gippsland Basin (subject to surrender).
Downstream interests
On 4 August 2010 the Company and Liquefied Natural Gas Ltd (ASX code LNG) signed a non-exclusive Strategic Alliance Agreement (SAA) in respect of natural gas, coal seam gas and shale gas in the Canning Basin, Western Australia for the purpose of evaluation and the appropriate development of projects and in particular an LNG production facility in the Canning Basin Region using feedstock from OBL.

Under the terms of the SAA, OBL will have the right, but not obligation, to invest in any such LNG project up to a maximum of 20% on an at cost basis, however this maximum becomes 30% should OBL and its JV consortia deliver certified 2P gas reserves of at least 1.0 TCF (in accordance with SPE definitions) within 4 years of work programs commencing in the field.

OBL is presently seeking Farmin Interest in both its Canning Basin highly prospective USG/USO properties and is prepared to share its SAA with the right partner (on mutually agreed terms).

Oil Basins Limited
100 Albert Road
Level 4
South Melbourne, VIC 3205
Australia - Map
Phone: 61 3 9692 7222
Fax: 61 3 9077 9233
Website: http://www.oilbasins.com.au
Mr. Kim Warren McGrath BEc(hons), LLB, FAICD, CPA, CTA, Executive Chairman, Member of Audit Committee, Member of Nomination Committee, Member of Remuneration Committee and Member of Risk Committee 366.00K
Mr. Neil Francis Doyle BEng, MEngSc, MSPE, MSME, Chief Executive Officer, Executive Director, Member of Nomination Committee, Member of Remuneration Committee, Member of Risk Committee and Member of Audit Committee 382.00K
Mr. Justin Mouchacca Company Secretary
Mr. Geoffrey C. Geary B.Sc (Geology), MPESA, Geological Consultant 282.00K

Search the ASX website for company announcements from Oil Basins Ltd


OBL Oil Basins 5 year chart, dated 26 November 2013.

 

 

 

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