WHL Starts La Bella Gas Marketing Talks

Australia listed WHL Energy has said that it has commenced gas marketing discussions for company’s La Bella field offshore Victoria with potential buyers.

The La Bella gas and condensate field has been assessed by WHL Energy to contain 2C Contingent Resources of 114 Petajoules (PJ) gas along with an inventory of exploration prospects with total Prospective Resources (mean) of some 670 PJ gas and 8 million standard barrels (MMstb) condensate. The total mean Contingent and Prospective Resources in the La Bella area amounts to some to 786 PJ gas and 10 MMstb condensate.

The company also said that it is seeking companies to participate in the upcoming 3D seismic and exploration drilling campaign.

WHL’s managing director Steve Noske added that a decision on what form a farm-out agreement would take and the amount of equity that WHL would retain would be finalised during the farm-out negotiation process.

In addition to the 3D seismic acquisition, WHL Energy will evaluate the exploration potential of the remainder of VIC/P67 and continue to develop the less mature exploration leads such as the Lowlander concept. The La Bella area only covers 30% of VIC/P67 with further exploration potential identified.