FURTHER gas exploration in WA’s southern Perth Basin could result in revenue of $2 million being generated annually for its partners.
One of these is Claremont-based junior explorer Empire Oil & Gas NL which is undertaking a $10 million drilling program.
The program started in early February with the spudding of Rutile No.1 by operator Amity Oil NL at a cost of $1.88 million.
Empire’s program is focused on its main stamping ground, the Perth Basin end of its Rough Range permits.
The company is earning 15 per cent equity in the Rutile No.1 well being drilled in Rutile prospect about twenty kilometres south of the Whicher Range gas field in the southern Perth Basin.
The well is targeting gas in a four-way dip closure reservoir at a depth of 1981 metres.
Amity Oil has considerable experience on the Whicher Range gas field where it has been undertaking remedial stimulation on Whicher Range-4, funded by Amity and GeoPetro Resources Company on a sole risk basis.
GeoPetro stepped in as a partner when Pennzoil Exploration Australia Inc and Forcenergy International declined to participate.
