The offshore North West Shelf is a world class hydrocarbon province and extends for approximately 2,400 km along the northwest margin of the Australian continent. To date it has produced over 10 billion barrels of oil equivalent.
Finder has a significant NWS portfolio with an interest in five exploration permits covering 14,051 km2. Finder is strategically positioned in the most prospective areas of the NWS with permits located in the Dampier and Beagle sub-basins and the Vulcan Sub-basin of the Bonaparte Basin.
Location and Status
Basin: Northern Carnarvon Basin, Dampier Sub-basin
Area: 322 km2
Water Depth: 125 – 275 metres
Status: Exploration Permit
Interests
Finder Energy (15%)
Fugro Exploration Pty Ltd (15%)
SapuraOMV Upstream (Western Australia) Pty Ltd (70%, Operator)
Permit Highlights
|
Highlights: Finder farmed out to SapuraOMV in December 2018 for a promoted carry in the drilling of Kanga-1. Kanga-1 is scheduled to spud early May 2022 with the Diamond Offshore Ocean Apex semi-submersible drilling rig. In the event Kanga-1 finds a commercial volume of hydrocarbons, rapid development is possible through a floating production storage and offloading vessel tied back to sub-sea wells. |
Location and Status
Basin: Bonaparte Basin, Vulcan Sub-basin
Area: 337 km2
Water Depth: 125 – 275 metres
Status: Exploration Permit
Interests
Finder Energy (50%, Operator)
Fugro Exploration Pty Ltd (50%)
Permit Highlights
|
Highlights: Gem Prospect high graded with new 3D seismic acquisition in 2020 and depth processed using high-end full waveform inversion and depth processing technologies. Located in a proven hydrocarbon province surrounded by full-to-spill oil and gas discoveries. During 2022, Finder will look to farmout equity in the permit to drill the Gem-1 exploration well. |
Location and Status
Basin: Northern Carnarvon Basin
Area: 7,260 km2
Water Depth: 30 – 135 metres
Status: Exploration Permit
Interests
Finder Energy (100%)
Permit Highlights
|
Highlights: Finder awarded highly sought-after WA-547-P against multiple competing bids. Strategic reinvestment in the basin secures material position along trend from Dorado Oil Discovery. Characteristic features of the Dorado play such as channel incisions, bright amplitude-versus-offset (AVO) responses and hydrocarbon chimneys are all observed on Polly 3D over WA-547-P. Work program sees new modern 3D seismic data to be acquired in late 2022, prior to the drilling of an exploration well. Finder will progress commercial negotiations in 2022 with a view to securing funding for forward activities. |
Location and Status
Basin: Northern Carnarvon Basin
Area: 4,850 km2
Water Depth: 80 – 350 metres
Status: Exploration Permit
Interests
Finder Energy holds an option to acquire 100% of WA-542-P
Permit Highlights
|
Highlights: Located along trend from proven Dampier Sub-basin Jurassic petroleum system to the West and Bedout Sub-basin Triassic petroleum systems of Dorado and Roc to the East. Finder is currently evaluating the prospectivity within the permit. The permit is secured by an option to acquire 100% of the permit at no cost to Finder (other than assuming the work program commitments) and is currently evaluating synergies with WA-547-P ahead of exercising the option. |
Location and Status
Basin: Northern Carnarvon Basin, Exmouth Sub-basin
Area: 1,276 km2
Water Depth: 500 – 1,100 metres
Status: Exploration Permit
Interests
Finder Energy (100%, Operator)
50% of Finder’s economic benefits in the Permit are held on trust for Fugro
Permit Highlights
|
Highlights: Strategically located in Triassic Mungaroo gas play with nearby discoveries. Mayflower Prospect covered by 1,280 square kilometres of new 3D seismic data acquired and depth processed in 2018. WA-520-P is considered non-core by Finder with the leading Mayflower prospect being best suited to tie-back to an LNG development. Accordingly, Finder is considering divestment options ahead of a ‘drill-or-drop’ decision in September 2022. |
