Icon Energy Gets Licence to explore for Unconventional Gas in Queensland
Australia-listed Icon Energy has been granted a gas exploration licence with unconventional potential in the Nappamerri Trough, Cooper Basin, Queensland, Australia for a period of 15 years, it said August 28.
Icon has discovered a significant gas resource, following the drilling, completion and testing of six wells, it said.
The gas resource within ATP 855, as determined by DeGolyer and MacNaughton, is now 28.5 trillion ft3 of unconventional gas resources over the whole permit, and 1.57tn ft3 of 2C contingent resource determined within defined areas surrounding the five wells already tested, the company said.
Icon will undertake technical studies and new seismic data acquisition, which are required before the second stage of appraisal drilling can commence. The work program covering the next four years was approved by the department of natural resources and mines June 21, 2017.
The company has a 100% interest in ATP 855.
Shardul Sharma