Real expands towards 'tier-1' gas project in Cooper

REAL Energy has advised that it has tendered for Queensland petroleum releases PLR 2014-1-4 in the Cooper Basin.

The permit, which is still waiting on Native Title agreements and environmental approvals, covers 1043 square kilometres and will increase Real's total acreage position in the basin to

The junior believes the permit is prospective for the basin-centred gas play in the Toolachee and Patchawarra formations, which its previous activities focussed on in the ATP 927 permit to the west.

In addition the company expects a number of conventional leads and prospects to be present.

"This is another step towards Real's goal of developing a world-class tier 1 gas project in the Cooper Basin, and follows on from the excellent results from our first two wells," Real Energy managing director Scott Brown said.

"Our next priority is to flow test both the Queenscliff-1 and Tamarama-1 wells in several zones in the Toolachee and Patchawarra formations.

"Once we have completed extensive flow testing, we will then engage an independent firm to prepare an updated report on the company's gas reserves/resources."