The South Australian Primary Industries and Resources ministry has granted Lakes Oil a twelve month extension to its current work program in the offshore Otway Basin. Lakes said negotiations with potential farminees made it clear that farminees wanted a 3D seismic carried out in EPP24 before they would commit to drilling a well, which is now scheduled for May next year.
Lakes said because of environmental sensitivity to whales and crustaceans in the area, the time during which a seismic shot can take place is limited to a short period in October and November.
Lakes is deciding now whether to target the "Troas" or "Triomphe" structure, both of which contain significant amounts of gas, the company said.
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