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The Comet East Prospect is considered to be high risk due to the thin prognosed top-seal unit. Should gas be encountered, fractures in the otherwise tight sandstone reservoirs in the region will also be required for good flow rates to occur.
However, the company said that should the well discover gas, the accumulation will more than likely be very large. Comet East-1 will be immediately followed by Red Rock-1 in the same permit.
The Red Rock Prospect has similar geological risks to Comet East with the principal difference between the two prospects being that the top reservoir in Red Rock is deeper than at Comet East and therefore the risk on top-seal is reduced.
Sunshine is the 100% owner of the field although Samson International can back-in for 50% of ATP 684P within 60 days of Sunshine completing two exploration wells comprising Comet East-1 and Red Rock-1 by expending up to $500,000.
