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Cue yesterday said the retention lease, designated AC/RL7, issued by the NT Department of Primary Industry, Fisheries and Mines, covers five graticular blocks.
The remainder of AC/P20 will be surrendered, it said.
Cue said the field contains proven gas at Jurassic and Triassic Levels and the Jurassic reservoir is assessed to contain between 194 and 1079 billion cubic feet of recoverable gas depending on trap fill.
Associated condensate yields are estimated at between 1.3 and 9.2 million barrels while the Triassic reservoir is estimated to contain between 95 and 355bcf of recoverable gas with 0.6 to 3.1 million barrels associated condensate.
Participants in AC/RL7 are operator Coogee Resources with 80% interest and Cue, with a 20% stake.
