Industrial development in Queensland and other states has lead to an increased demand for natural gas and that has put further pressure on the need to find increased reserves for exploitation.
The focus of the Coomooroo has been to locate oil and gas targets which have a significant potential in the Eromanga and Galilee Basins with emphasis on Queensland portion.The initial drilling program focuses near Blackall, Queensland where over $300 million has already been spent by previous ATP holders.
Conventional Gas Target Features
The largest target covers a zone of about 290 sq km located east of Blackall, Qld íV preliminary surface geochemistry allied with seismic is most encouraging and there are several smaller targets in the area
It is estimated that upwards of 30 tcf of natural gas could exist in these targets
The natural gas is expected to be accompanied by condensates and may total 100 million barrels
The deposits are in the Eromanga Basin which has an average porosity of 30% and permeabilities of 2-3 darcies
Oil Target Features
The largest target covers a zone of about 300 sq km located east of Blackall, Qld íV preliminary reinterpretation of radiometrics allied with seismic is most encouraging in the Galilee Basin which underlies the Eromanga Basin.
The two largest oil & gas targets could possibly occur side by side
There are smaller outliers which warrant further exploration follow up allied to the Enniskillen Anticline
Earlier drilling from 1922 to 1981 had missed all of the 2009 targets identified by new technology
The cumulative target may total >150 million barrels
Surface geochemical orientation studies have been most useful especially when compared with the
Surface indications of light oil equivalent to the Eromanga/Cooper Basin ranking have been identified in soils in areas where there also iodine surface geochemical anomalies have correlated with airborne geophysical results.
Coal Seam Gas Target
All 8 wells drilled previously in the area all successfully report coal seams of varying thicknesses up to 50 metres. Gas was identified on all but tested in the last one drilled.
One well drilled with Esso as operator encountered significant methane which was ignored as a safety issue in 1980 but not now in 2010
It is estimated that over most of the 7,200 sq km, there is some 8-10 tcf of gas also lying in the various coals seams that are above the conventional gas