VIC/P71

Llanberis Energy views its VIC/P71 permit as the prime location for trapping hydrocarbons on the Southern Margin of the Gippsland Basin. VIC/P71 is just over 30km south of the giant billion-barrel Kingfish Oilfield. It is ideally located to receive and trap hydrocarbons migrating out of the same ‘kitchen’ area that sourced Kingfish. Hydrocarbons only need to migrate a short distance from the basin depocentre where they are focussed into the various traps identified in VICP/71. Llanberis Energy nominated this area for release, applied for it in two separate gazettal rounds and is now pleased to have been awarded the Permit.

 

  • Llanberis Energy mapping has produced a range of leads in Permit VIC/P71 with significant reserve potential.
  • Oil-in-Place (STOOIP) preliminary estimates for the best Leads are in the range of 20 million barrels to 1 billion barrels.If gas prone, the intra-Latrobe leads could contain from 200 to 1500 BSCF OGIP.
  • The current plan is to proceed with new 3D seismic acquisition to mature as many leads as possible to Prospect status ready for drilling.
  • The potential assessed in the VIC/P71 is completely within the scale of the already discovered volumes in this basin. It is rare to obtain the opportunity to recognise and access such large hydrocarbon accumulations in a world-class producing oil and gas basin such as Gippsland.

 

Top Latrobe Leads

TLat-010 is a four-way dip closure at the Top of Latrobe horizon and at the intra-Latrobe Marlin Unconformity. Area 5.5 sq kms, column height of 28m. Potential oil in place in excess of 40 MMbbls. (3D Area A).

 

 

 

 

 

 

Basement High Ridge is a series of 3-way-dip closures where the Latrobe Group reservoirs pinchout against basement at the Top Latrobe. Potential oil in place ranges from 20 MMbbls individually to 200 MMbbls in total. (3D Area B).

 

 

 

 

 

Intra-Latrobe Leads

 

GB-001 is a 3-way-dip closed hanging wall fault trap at the Golden Beach reservoir level with intra-Latrobe shales providing the topseal and basement the lateral seal. Potential oil in place in excess of 60 MMbbls or OGIP 209 BSCF. (3D Area D).

 

 

 

 

EEoc-001 is a huge stratigraphic pinchout play of the Early Eocene Halibut Subgroup onto granitic basement. Top seal would be basal downlap shales of the overlying Cobia Subgroup. Potential oil in place in excess of a billion barrels or OGIP 1480 BSCF. (3D Area E).

 

 

 

 

 

Proposed Guaranteed Primary Work Program

Acquisition of 550 km2 of new 3D seismic data, over Areas A and B, shown below, covering the main Top Latrobe leads.

Estimated total cost of Primary Term commitment: $US 8 million.

Estimated cost of 3D survey over all leads $US 15 million.

 

 

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