Dubbed the Marina Prospect, Drillsearch said the 52 sq.km prospect has a four-way dip closure and approximately 200m of indicated gas saturated sand in the Tern Member of the Hyland Bay Formation.
"There are multiple stacked reservoirs which enhances the potential for oil pay within the prospect. Estimated gas in place within this prospect is 710 billion cubic feet," said Drillsearch's managing director, Phil Kelso.
Kelso added the company believes this is a very significant development in the ongoing exploration of the Bonaparte Gulf permits. WA 318P adjoins the Santos-operated Tern Field.
