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Norwest Energy weighs in on more of the offshore action

Norwest Energy has increased its Perth Basin holdings, recently taking a 7.5 per cent in WA 226 P just weeks before first drilling on an untested prospect.

The offshore permit in the northern part of the basin contains a structure said to be geologically on trend and similar to the Cliff Head oil field determined in WA 286 P eight months ago.

This discovery was the first potentially commercial offshore oil find in the northern Perth Basin.

Norwest has maintained its five per cent stake in WA 286 P, which it held at the time of the find, and has since increased its interest in the Cliff Head trend by also acquiring a 10 per cent interest in the adjacent TP/15, which contains an extension of this trend.

Some industry professionals consider the Morangie structure in WA 226 P as promising as Cliff Head.

However, while another exploration well in a different structure in the same permit revealed a residual oil column, Morangie, with an interpreted potential 250 million barrels of oil, has remained untested.

Norwest has made its new acquisition, 230 kilometres northwest of Geraldton, through a securities issue to Black Rock Oil & Gas plc.

It will be free-carried through the drilling of a first exploration well, the Morangie-1, in October, but will be required to fund 7.5 per cent of any production testing.

Apache Energy will manage the drilling of this well.

A potential five-well Cliff Head follow-up programme in WA 286 P and TP/15 is scheduled to commence early next year, to further investigate Cliff Head and explore three other structures.

Voyager Energy, another junior partner in WA 286 P and WA 226 P is conducting a $3.5 million issue.

The company has 22.5 per cent interests in W01-22 and W01-24, also on trend with Cliff Head, the largest stake, 55 per cent, held by Cliff Head project operator Roc Oil.

Voyager is also a participant in the onshore EP 413, where Jingemia-1 will test a new prospect following the completion of Hovea-3, currently being drilled in L1 by Origin Energy and Arc Energy.

Meanwhile Tap Oil, as part of the Harriet Joint Venture led by Apache Energy, found oil this week in South Simpson-1, near Varanus Island, indicating South Simpson is an extension of the Simpson oil field.

Both Simpson-4H, drilled earlier this month, and South Simpson-1, will be brought into production.

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