PEL 433 & PEL 434
PEL 433 (ESG 65% & Gastar 35%)
119 km of seismic was acquired in 2001 and a further 36 km in 2004. Two coreholes were drilled in 2007 at Allambi and Coolahville.
While the early Permian Maules Creek Formation is not present in the northern part of PEL 433, it has been identified in the southwest of the permit (primarily in a north-south oriented graben). Late Permian (Black Jack Formation) coals are prevalent in the north and east of the permit area, but are poorly developed to the southwest.
The two coreholes drilled during 2007 were located in the Weetaliba Shelf, to the east of the licence area, and targeted the late Permian Formation. The coreholes intersected coal essentially as predicted, but failed to identify a commercial resource of gas.
The joint venture has a commitment to drill two coreholes in PEL433 during 2009.
PEL 434 (ESG 65% & Gastar 35%)
PEL 434 is significantly under-explored. The aerial extent and thickness of coals within the licence area are unknown.
The joint venture has a commitment to drill one corehole in PEL434 during 2009.
Drilling of the commitment coreholes will provide information to confirm coal presence and characteristics.
