references
centred gas potential of the Nappamerri Trough into south west Queensland. Gas shows over an interval in excess of 1,300 metres were encountered throughout the Roseneath, Epsilon and Murteree (REM) and Patchawarra Formations with very thick horizons including 460 metres of the Roseneath, Epsilon and Murteree REM section and 490 metres of the Patchawarra Formation at total depth. All these horizons appeared to be over-pressured throughout. In late December 2012, the Joint Venture began a 14 stage hydraulic stimulation of the Halifax-1 well including seven stages in the Toolachee, Daralingie and REM Formations and seven stages in the Patchawarra Formation. Halifax-1 was then flow tested over a six month period recording a peak gas flow rate of 4.5 MMscf/d on a 48/64†choke for a short period and a maximum daily rate of 3.7 MMscf/d on 96/64†choke. Over the six month flow test period from February 2013, Halifax-1 produced 243 MMscf of gas. A Notice of Petroleum Discovery was lodged with the Department of Natural Resources and Mines (DNRM). In late August Halifax-1 was shut in and the well is currently on long term pressure build-up.
Gippsland Basin In 2012 the Victorian Government introduced a moratorium on fracture stimulation of unconventional gas wells in Victoria. Prior to the introduction of the moratorium the Company was in the process of securing approval to carry out 400 km of 2D seismic acquisition and drill two exploration wells on PEP 170. Following the announcement the Company decided not to progress its exploration program in Victoria until the moratorium has been lifted. In August 2013 the Company successfully concluded negotiations with the Gunaikurnai People for an ILUA covering areas subject to native title in PEPs 170, 172 and 173. PEPs 172 and 173 had been awarded to Icon Energy subject to the successful completion of an ILUA. The Company looks forward to working closely with our stakeholders in the future development of these tenements for the mutual beneï¬t of all parties.