Only two wells have been drilled in the Durroon Sub-basin, neither of which penetrated the older section where Bass Strait says it will initially target new play concepts.
The company said it viewed permits T/42P and T/43P, which comprise a total 6120 square kilometres, as a “grassroots” exploration opportunity. It said its early-phase geological and geophysical work has the potential to add significant value to the permits.
The Durroon Sub-basin comprises a series of high-relief north-west trending troughs formed about 80-100 million years ago when Tasmania failed to completely rift away from the Australian mainland.
These troughs are now buried several kilometres below the floor of the Bass Strait. Seismic data indicates the deeper areas have accumulated large areas of sediment as the surrounding ranges eroded and subsidence continued over millions of years.
These sections of the ‘Durroon Formation’ have never been drilled, according to Bass Strait.
“While there is relatively little geological data relating to these large permits, one attractive play concept the company will evaluate is that of turbidite sand deposits within the lacustrine shales of the Durroon Formation,” chief executive Andrew Adams said.
Even though the Durroon Sub-basin turbidite play is still conceptual at this stage, the company believes strong potential exists for further development of this and other play concepts in T/42P and T/43P.
Its initial program will focus on data analysis and data acquisition to mature this potential into drillable targets.
Bass Strait added the new T/42P and T/43P permits complement its existing Bass Basin asset, the Yolla Field royalty, which is due to start full production next month.
The company will also secure a strategic interest in the onshore Otway Basin with the drilling of the Pritchard-1 well scheduled for late this month in permit PEP151.
Together with the its three offshore Gippsland Basin permits, Bass Strait is now exploring in all of the productive basins of south-east Australia – Gippsland, Bass and Otway.
