Pilot Energy begins the sale of WA-507-P in Exmouth Plateau
Thursday, Oct 19, 2017
Highlights

  • The WA 507 P Joint Venture (Pilot Energy 80%; Black Swan 20%) has decided to market for sale the unencumbered joint (100%) interest in the permit.
  • Three very large leads have been identified on high-quality 3D seismic.
  • A combined best case Prospective Resource of 1.6 billion barrels (Bbbl) of oil or 10 Trillion cubic feet (Tcf) of gas on-block has been independently verified by Gaffney Cline and Associates.
  • Partner Black Swan Resources has agreed to manage the sale process on behalf of the JV

Pilot Energy is pleased to announce that the WA-507-P Joint Venture (Pilot Energy 80%) has resolved to market for sale an unencumbered 100% interest in the permit. The sale will allow Pilot to focus on its Perth Basin interests. The highly prospective permit covers 1,622 km2 of the Exmouth Plateau, near the Thebe, Scarborough and Jupiter gas fields and is surrounded by recently awarded WA-530-P and WA-529-P permits.

The WA-507-P permit is covered by a high-quality 3D seismic dataset, acquired and processed by the geophysical company TGS in 2010. From this data the Joint Venture mapped three very large prospects at the Mungaroo reservoir level. The Dalia Updip, Beta and Gamma prospects were subsequently the subject of an independent estimate of Prospective Resources by Gaffney Cline and Associates (GCA), as announced 20 October 2015. Further geological and geophysical studies matured the prospects.

Pilot’s partner, Black Swan, have agreed to manage the dataroom and sale process on behalf of the Joint Venture.

For more information, please visit: http://www.pilotenergy.com.au/

For additional information on this project, please visit our ProjectsOGP database
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