The permits adjoin WA 279P and WA 313P where the operator, Woodside Energy, made a substantial gas discovery in the Blacktip 1 well in August last year. That well recorded combined gas flow rates of 89 million cubic feet per day, principally from the Permian interval.
The survey has been contracted to Veritas DGC who will collect approximately 760 km of new high quality 2D seismic data under Drillsearch's 2002 work program. The new data will then be merged with existing 2D data.
Drillsearch said the survey has been designed to further delineate a number of major leads indicated from initial seismic mapping of the Permian and Carboniferous intervals within the permits and up dip from the Blacktip discovery.
"Major leads within the permits at the Carboniferous interval have indicated potential original oil in place (OOIP) in individual leads of between 265 million to 2.36 billion barrels," the company said. " Leads at the Permian interval have indicated potential OOIP in individual leads of between 72 and 285 million barrels."
Drillsearch added discussions are currently underway with a number of potential farm-in partners.
In other Drillsearch news, a general meeting of Drillsearch Energy will be held on Friday, 19 July at the CTA Club, MLC Centre, corner Martin Place and Castlereagh Street in Sydney.
The meeting, which will start at noon, will pass a resolution to have BDO Chartered Accountants be removed as auditors of the company with Richard Hill & Associates to be appointed as new auditors.
