Warrego Energy hails Lockyer Deep-1 gas find
Sydney-listed Warrego Energy on September 29 said that the recent gas discovery at Lockyer Deep-1 in the Perth basin may have positive implications for multiple exploration targets within its 50%-owned EP469.
“The Lockyer Deep-1 gas discovery has expanded the Perth basin sweet spot by adding Lockyer Deep to Waitsia, Beharra Springs Deep and West Erregulla as significant deep onshore Permian gas fields,” Warrego said. Australian explorers Energy Resources and Norwest Energy on September 8 reported a "significant" conventional gas discovery at Lockyer Deep-1.
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Warrego's analysis indicates that gas generated from the mature north Dandaragan Trough has migrated north and is likely to have filled structures in EP469 before spilling to the north and west towards Lockyer Deep and Waitsia.
“This migration pattern is a very positive indicator for future exploration and appraisal within EP469, particularly the upcoming appraisal drilling at WE-3 in the Northern Area of the West Erregulla gas field which is scheduled for the first half of 2022,” Warrego said. The WE-3 well was temporarily suspended in January this year after encountering overpressured gas in the Carynginia formation.
Warrego CEO David Biggs said the additional data Lockyer Deep-1 discovery provides positive implications for the planned appraisal and exploration activity in EP469, specifically the drilling of WE-3 and the upcoming 3D seismic survey that will greatly enhance the understanding of multiple potential structures within the block.
“Should discoveries be made at any of these exploration targets, these near-field structures could be tied into the proposed Phase 2 development at West Erregulla relatively easily,” he said.
Warrego is focused on the development of onshore assets in Australia, primarily in Western Australia. It holds a 50% interest in EP469, including the West Erregulla gas project, and 100% of STPEPA-0127.