Rawson told the market today that the JV had successfully bid for the ATP873P permit, which it said was considered “highly prospective” for CSM.
“It is also prospective for traditional oil and gas targets in the Jurassic and Permian sands,” it said.
Rawson will have a 15% stake in the JV, while TRUenergy is operator with 70% and Energetica has the remaining 15%.
In the first year of operations, the JV plans to drill three CSM wells in the north of the permit, close to the Bow discovery in the main CSM fairway.
Rawson Resources is now involved in two Surat Basin CSM projects, with 1500 square kilometres of acreage.