Canning Basin
Introduction
The Canning Basin onshore covers approximately 467,000 km², and has had just over 300 wells drilled. The basin comprises numerous sub basins of which the Fitzroy Basin is the deepest and is the controlling feature for the known historic oilfields of Blina-Sundown on the northern flanks and the recently discovered Ungani oilfield on the southern flanks.
Figure 1: The three major prospective trends relative to Fitzroy Blocks EP457 and EP458 and Derby Block EP487.
The Derby Block- EP487
Rey 100%
The Derby Block occurs north of the Fitzroy Blocks and overlies the major road infrastructure in the region. It abuts the northern flank of the Fitzroy Trough and is considered prospective for both conventional oil on this northern flank as well as for large accumulations of gas in the Laurel regional gas accumulation.
Rey conducted a new 2D seismic program in September 2017 to firm up the Butler Prospect. The Butler Prospect is adjacent to the Gibb River Road, just 45km east of Derby. Seismic reprocessing and mapping conducted in early 2017 has uncovered a large undrilled seismic feature in the mid-Laurel with an estimated potential of 4 TCF (120mmbls associated liquids) recoverable on EP487. It is interpreted that the section contains sandstone capable of conventional commercial production without need of stimulation.
The Fitzroy Blocks- EP457 & EP458
Rey 40%
Buru 60% (and operator)
The Fitzroy Blocks overly the southern flank of the Fitzroy Trough (refer Figure 1). The Ungani oil trend extends through much of the area covered by the leases. Conventional gas targets are also considered to occur on the leases as well as the extensive Laurel regional gas accumulation.
two wells: Victory-1 in EP457 and Senagi-1 in EP458, has been drilled since 2015.
The Lennard Shelf Blocks- L15, R1 and EP104
Rey 100%
The Lennard Shelf Blocks was obtained by Rey in 2018. It include the Petroleum Production licence L15, Retention Licence R1 and Exploration Licence EP104. L15 has production history and still has 238 Mstb recoverable reserves of oil in place. R1 has two wells, Stocks Bay-1 and Point Torment-1. Point Torment-1 has potential economic value of gas. Rey is conducting a comprehensive study on this well. EP104 has a large high quality reef-tank trap, the Black Rocks.
Duchess Paradise Thermal Coal Project
Rey 100%
The DP project was developed since 2009. After 385 holes were drilled, a significant JORC resources has been identified. The project is under application of Mining Lease.
