Triangle completes seismic survey over West Australian permits
Sydney-listed Triangle Energy on May 31 said that the 3D seismic survey over L7 and EP437 permits in Western Australia’s Perth basin has been completed within time and on budget.
Triangle presently holds a 50% interest in the L7 permit and is in the process of acquiring the remaining 50% from fellow Australian oil and gas company Key Petroleum. In EP437, Triangle is acquiring 13.058% from Pilot Energy and 86.942% from Key.
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Processing of the seismic data is expected to take four to five months for the final product however a fast-track seismic cube will be available sooner which will enable Triangle to start their interpretation and prospect generation early.
The company expects a most likely prospective resource case of 617bn ft3 gas and 19mn barrels oil. The L7 permit is located just north of the large Waitsia, Senecio and Lockyer Deep gas fields and contains “highly attractive, similar-looking structures with the same reservoir targets", Triangle said.