Carnarvon Petroleum has secured the WA-524-P permit situated on the flanks of the Dampier Sub-Basin in Western Australia’s North West Shelf.
The 1,210km² permit is located on the Enderby Terrace, which contains various untested play types in a proven basin that includes the Stag, Wandoo and Legendre oil fields, as well as the Reindeer gas field.
Carnarvon Petroleum managing director and CEO Adrian Cook said: “Carnarvon is continuing to build its portfolio in anticipation of the next oil price cycle.
"There are a number of attractive opportunities in this permit that I am confident will become attractive drill prospects in the future.
“This area will benefit from the application of our technical expertise and recent improvements in technology that were not previously available."
Carnarvon has identified potential within the Permo-Triassic stratigraphy and three leads within the newly awarded block.
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By GlobalDataThe company aims to de-risk the elements of the play, with a number of geoscience work flows, which will include a regional source rock study and 3D seismic reprocessing with full wave form inversion (FWI).
With these work flows, Carnarvon will be able to add value to the asset by undertaking a forward work programme.
Furthermore, the company plans to investigate the potential of a secondary play system in the shallow Cretaceous stratigraphy.
