Finder Energy are looking for partners to join them in progressing the exploration of Licences AC/P 45 and AC/P 55 located in the Browse Basin off the NW Coast of Australia. The licences contain material, multiple play potential opportunities with a mix of drill-ready and play opening multi-billion barrel prospectivity located in shallow water.
Licence AC/P 45 contains the drill-ready Alpha prospect which is a low risk, high reward target with mean prospective resources of 150 mmbbl. The primary target is the Puffin reservoir with a secondary target in the Triassic. The targets are mapped on Broadband pSDM 3D with seismic inversion used to derisk the seal and reservoir. In the success case, robust economics are demonstrated with a sub-sea development tied back to an FPSO. The prospect is located in shallow water of approx 130m and Finder are seeking partners to join them for a 2022 well with estimated dry hole costs of MUSD 15. In a success case, a follow on well on the Epsilon target could be drilled.
In addition to the prospectivity in the Puffin and Triassic Sands, Finder have developed an exciting multi-billion play across both the AC/P 45 and AC/P 55 licences - "the Zeta Play". This is a new Permian Limestone play located entirely on Finder acreage. Again the play benefits from being located in shallow water between 70-130m with targets at around 5,000m. Finder are looking for partners to shoot new 3D seismic of around 1,500 km2 to help derisk 6 identified prospects.