Bass Basin (Australia)
Gas Projects in Development
Since 1998, CalEnergy has been actively involved in both exploration and production in the Bass Basin, located in the offshore waters of the Bass Strait between the southeastern tip of mainland Australia and the Australian island state of Tasmania.
CalEnergy has been pursuing a monetization of its assets in this area and has
entered into a number of third-party agreements that will result in the farm out
or sale of an aggregate 13.5 percent of CalEnergy's interest in permit T/18P,
which will result in CalEnergy retaining a 5 percent interest in the permit.
CalEnergy and its joint venture partners have made two gas discoveries in the
T/18P permit to date: White Ibis No. 1 (1998) and Trefoil No. 1 (2004).
An exploration/appraisal drilling campaign was completed in Q1 2010.
Trefoil No. 2 was a successful appraisal of the southern flank of the Trefoil
Field and has better defined the gas water contacts in the field. The operator
currently is integrating the results of the well and reassessing field
volumetrics.
The Rockhopper No.1 exploration well and subsequent down dip sidetrack
were successful in identifying hydrocarbons, both liquids rich gas and
oil, in several sands within the primary objective. The commercial
significance of this discovery currently is being assessed by the operator.