BPH Energy Limited (ASX:BPH): Advent Energy Study Points To Significant Shale Gas Potential

RELATED QUOTES

SymbolPriceChange
BPH.AX0.010.000

Perth, Australia, Sep 19, 2011 - (ABN Newswire) - MEC Resources (ASX:MMR.AX) is pleased to provide the following advice from its investee company Advent Energy Ltd (Advent) regarding its permits in the onshore Bonaparte Basin, WA.

Advent has now completed an initial study of shale gas potential in EP386 and RL1.The results indicate significant potential upside in prospective shale gas resources for Advent with estimated unrisked OGIP for EP 386 & RL 1 in the range from 19 TCF to 141 TCF. The thickness of the prospective shale gas play varies from 300m to over 1500m.

Advent's major shareholders include MEC Resources, BPH Energy (ASX:BPH.AX), Talbot Group Investments and Grandbridge (ASX:GBA.AX). Advent's onshore permits cover 2,734 sq km and comprise Exploration Permit 386 (EP386) of 634,567 Acres (2568 sq km) and Retention Lease 1 (RL1) of 41,019 Acres (166 sq km).

The prospectivity of the Bonaparte Basin is evident from the known oil and gas fields in both the offshore and onshore portions of the basin. Advent's onshore EP386 and RL1 contain many large structures with conventional reservoir gas discoveries.

There have been four conventional gas discovery wells drilled in Advent's 100% owned and operated Bonaparte Basin permits of EP386 and RL1:

- In EP386 the three main discoveries made so far are Vienta, Waggon Creek and Bonaparte; and

- In RL1 in the Northern Territory, Advent has recently announced an independently assessed contingent resource for the Weaber Gas Field.

Initial study of shale gas potential in EP386 and RL1

The current study analysed all wells drilled in the onshore Bonaparte Basin which has thermally mature thick source rock (>500m) with potential large unconventional resources.

Details from the study which has highlighted the presence of multiple petroleum targets and which shows both shale gas and tight gas potential are attached. (see link:

The study's key findings are:-

Multiple petroleum targets are present in EP 386 & RL1 :

- Proven conventional gas charged sandstone reservoirs in nearshore marine area of the Milligans Formation;

- Unconventional gas-condensate shale play in the shallow marine areas of Lower Milligans Formation;

- Unconventional tight gas sandstone and limestone reservoirs in the Langfield, Ningbing & Cockatoo groups below the Milligans Formation;

- Lower Milligans Formation shale is prospective for shale gas play with considerably large upside potential;

- Marine shale with moderate organic richness: TOC of up to 2.2% from samples in wells within or in close proximity of EP 386. Higher TOC could be present in the deeper offshore area north & east of EP 386;

- Source rocks are mature for gas and oil generation: Ro range 0.44-2.42% & Tmax range from 430 to 480;

- Limited geochemical data indicates source rocks at depth shallower than c. 1400m are mature for gas/wet gas and oil generating windows, but over-mature and in the dry gas generating window at depth below 1400m;

- The thickness of the prospective shale gas play is varied from 300m to over 1500m.

This would provide significant upside in prospective shale gas resources; and ?

Unrisked OGIP for EP 386 & RL 1 could be in the range from c. 19 TCF to 141 TCF.

Advent is currently preparing to re-enter and perform production testing on Waggon Creek-1 and Vienta-1, in EP386.

About BPH Energy Limited:

BPH (previously BioPharmica Limited) was formed in 2004 and is a listed company on the Australian Securities Exchange under code BPH.

Contact:

 
David Breeze
Executive Director
MEC Resources Limited
Tel: +61-8-9328-8477 

Source:

BPH Energy Limited

Copyright (C) 2011 ABN Newswire. All rights reserved.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9331+0.0004+0.05%
    AUDUSD=X
    0.5562+0.0009+0.16%
    AUDGBP=X
    0.67520.000.00%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg