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SOUTH AUSTRALIAN COOPER BASIN EXPLORATION OPPORTUNITIES - 2004 Elinor Alexander

SOUTH AUSTRALIAN COOPER BASIN EXPLORATION OPPORTUNITIES - 2004 Elinor Alexander Petroleum Group PIRSA April 2004. Petroleum and Geothermal Tenements. Petroleum tenements. Exploration licence (onshore) Exploration licence (offshore) Work program exploration application

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SOUTH AUSTRALIAN COOPER BASIN EXPLORATION OPPORTUNITIES - 2004 Elinor Alexander

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  1. SOUTH AUSTRALIAN COOPER BASIN EXPLORATION OPPORTUNITIES - 2004 Elinor Alexander Petroleum Group PIRSA April 2004

  2. Petroleum and Geothermal Tenements Petroleum tenements Exploration licence (onshore) Exploration licence (offshore) Work program exploration application Over the counter exploration application Production licence Potential release area Geothermal tenements Exploration licence Exploration licence application

  3. Proven trends in the Cooper and Otway Potential for giant oil in the Officer Potential for significant oil discoveries in the outer Eromanga, Arrowie and other basins Evermore expeditious land access High success rates and short cycle time to production in Cooper Infrastructure Data access Acreage available Geothermal energy Competitive fiscal regime

  4. Native Titleand Petroleumlicences Native Title Claimant Area Aboriginal lands Petroleum exploration licence Gazetted release area Potential release area

  5. Native Title Access Agreements in SA • Right to Negotiate process in SA now leverages on 39 existing agreements over 26 PELs and 2 PELAs • SA Native Title agreements are full cycle (conjunctive) • Agreements have been accepted as fair to the registered Native Title claimants and are demonstrably sustainable with respect to development • Details of all agreements are available to the public via PIRSA’s website www.petroleum.pir.sa.gov.au

  6. 120 14 27 PELs surrender 33% to 50% of areas Total Expl + Appr + Dev Wells 12 100 Nos. Cooper Operators Surrender of PELs 5&6 10 27 new PELs + PPLs 80 8 60 6 40 4 20 2 0 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 SA Drilling - actuals and forecast 2002-3 New PELs Full-cycle native title access agreements Find sizes up to: - 3.4 MMBBL oil - 50 BCF + liquids Cycle time to oil production < 6 mo. High success rates Popular!!

  7. 50 ACRASIA 1 45 40 35 MOOMBA 104 30 OIL DISCOVERY COUNT 25 20 15 STRZELECKI 3 10 5 0 0 50 100 150 200 250 300 350 400 450 OIL EXPLORATION WELL COUNT Cooper Basin oil success rates 57% Geologic Success: 12 of 21 wildcats found new pools 42% Economic Success: 9 new fields vs 21 wells (5 with pay stacked) Increased pace of success Long-offset seismic to pick crests

  8. Cooper Basin Sub-crop limit Cooper acreage releases CO2003–A (bids close July 2004) CO2003-A: Currently open for bids Oil and gas plays CO2004-A: Nappamerri TroughBirkhead/Hutton oil playOne block, release at EABS2 Bids close ~ mid 2005 CO2004 - TBA MOOMBA

  9. Permian limit CO2003-A Cooper margin oil and gas plays Warburton Basin shelf plays Structural and stratigraphic traps Free CDs available Triassic limit CO2003-A Gas Pipeline Oil Pipeline

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