Australia's Carnarvon Petroleum said that its application to the government to acquire 100% of a new offshore West Australian permit has been successful.
Block W08-11 is situated in the north-western part of the Bedout sub-basin within the greater Roebuck basin.
The block lies in an underexplored area that has received little recent attention, adjacent to the prolific Carnarvon basin hydrocarbon province to the south-west.
Three wells have been drilled in the block to date. The two wells, Phoenix-1 and Phoenix-2, drilled on the large Phoenix structure, intersected extensive gas columns within the low-porosity, mid-Triassic reservoir.
Carnarvon Petroleum has agreed to reprocess 2,500km of seismic and carry out technical studies for the first three years, estimated to cost $500,000.
Following the completion of the work, Carnarvon Petroleum said that it intends to drill at least one well in the following three-year indicative programme.