Estimated Gas in Place
21 trillion cubic feet
Ownership
WestSide: 51%
Mitsui E&P Australia: 49%
About the project
WestSide has secure a significant foothold in Queensland’s coal-rich Galilee Basin through the acquisition of 100 per cent interests in two new exploration tenements, ATP 974P and ATP 978P. The Company's Meridian SeamGas joint venture partner Mitsui has farmed in to earn a 49 per cent interest in both tenements.
The Company will target CSG within the two tenements which cover a combined area of 14,480 km2 in the north-western part of the Galilee Basin.
WestSide believes the area could contain up to 21 trillion cubic feet of gas in place (10.7 tcf net to WestSide) and reviewed geological and geophysical studies within the two tenements as a precursor to commencement of exploratory drilling.
Grassroots Exploration Program
The targeted Bandana Formation coal seams typically contain between 13m and 17m of coal.
WestSide has completed reprocessing and reinterpretation of data sets from two seismic lines in ATP 974P to generate one drill target. All other planned wells in the first phase program will be pure “grassroots exploration”.
Cultural heritage and landholder negotiations have been initiated in conjunction with planning to initially drill two exploration wells in each tenement during the second half of FY2011.
The first well Glenlyon 1 spudded in late September 2012 and was subsequently plugged and abandoned due to a down-hole obstruction during drilling. Glenlyon 2 was spudded alongside in mid-October and drilled to a depth of 1,222 metres before the well was suspended due to the onset of the wet season.
Work within the tenements is scheduled to recommence in March/April 2012. (See announcement)
Successful results from the initial drilling program could lead to up to 40 stratigraphic holes being drilled across each tenement in the first four years to prove the extent of the resource and target the certification of gas reserves.
WestSide has also joined the Galilee Basin Operators’ Forum as a foundation member of an industry collective formed by companies actively exploring for CSG in the area to fund a regional baseline ground water assessment study for the Galilee Basin.