Real Energy Corp Ltd is farming down its 100% owned interests in the Cooper Basin and, in September 2019, reported that it is in discussions with potential partners. Real holds 100% interest in ATP 927-P, located in the Windorah Trough. It also holds application ATP 1194A, located just 40 km to the north-east, which will also be available for farm-out upon its official award.  Real Energy has been undertaking the Tamarama drilling and testing programme within ATP 927 since 2014. Well testing, including hydraulic fracture stimulation, commenced in mid-2018 and testing operations were continuing in 2019 at Tamarama 2 and 3 wells. On 20 August 2019 Real Energy reported that it was evaluating ways to improve flows at the Tamarama tight gas wells after mechanical flow problems were encountered. Flow rates of around 2.5 MMcfg/d have been achieved during the initial testing around January 2019.    AWT has estimated that gas in place within Realâs assets could be in excess of 10.2 Tcf. The development risk of Real Energy held acreage is considered low based on the access to several existing basin-centred gas wells.  Real Energy deems the permit areas hold long-term conventional oil along with shale oil and gas potential. The area over relinquished ATP 917-P specifically is still considered prospective for oil and a deep Permian and Triassic tight gas play. Gas recoveries from the Springfield 1 well, located to the west of the licence, suggest that any valid structural or potentially stratigraphic trap in the area should be gas charged. Real reported that the deeper parts of the Ullenbury and Thompson Troughs could contain a gas-saturated Permian section, representing a potential basin centred gas play.   A pipeline licence has been granted between the Tamarama wells area and the Santos operated Mt Howitt field, around 12 km to the south. A pipeline would offer a strategic advantage in accessing the gas market via already established routes.  Permit History    Real acquired an additional 50% interest in ATP 917-P and ATP 927-P on 17 March 2014 from Canadian Coyote Energy Ltd. Real Energy currently operates and holds 100% interest in ATP 927-P. On 8 May 2013 Real Energy initially acquired a pre-earned interest in ATP 917-P, which was awarded to Canadian Coyote Energy Ltd on 25 June 2013 for a six year term. The permit, covered an area of 2,168Â sqÂ km and was not due to expire until 30 June 2019. ATP 927-P was awarded to Drillsearch Energy Ltd on 24 September 2013 with Real Energy holding a 50% interest. The permit, which covers an area of 1,717Â sqÂ km, will expire on or be eligible for renewal by 30 September 2019. Real Energy entered into a farm in agreement with Drillsearch on 8 May 2012 whereby Real Energy would acquire 100% interest and operatorship of ATP 917-P and ATP 927-P. The terms of the agreements included a one off payment of AUD 750,000 to Drillsearch, a production bonus of AUD 1 million if 500,000 boe is reached in either permit, as well as a royalty on production from both permits.    Exploration Wells    Two Proof of Concept wells have been drilled in ATP 927-P to de-risk the proven basin centred gas play. Tamarama 1 exploration well was spudded in September 2014. The well was suspended pending future testing, after reaching a revised total depth of 2,574 m. The well encountered 87 m net gas pay, over a 165 m gross interval within the Toolachee and Patchawarra formations, location in ATP 927-P. Real reports that it believes this indicates a basin-centred gas play is present within its acreage and will continue exploration to acquire more information. The Tamarama 1 well was targeting a potential basin-centred gas play within the Toolachee and Patchawarra formations and had a planned total depth of 2,566 m.     Queenscliff 1 well spudded on 9 October 2014. The well was drilled by the âEnsign 916â land rig and had a revised total depth of 3,200 m. In early November 2014 Real Energy suspended the well, after reaching a total depth of 3,219 m within basement. The primary objective of the Queenscliff 1 well was to assess the basin centred gas potential of the Toolachee and Patchawarra formations. The Toolebuc Shale formed a secondary objective, from which samples were acquired in order to determine the intervalâs prospectivity for shale oil. Wireline logs were undertaken at total depth and results, along with results from mudlog gas readings and drill cuttings, indicate that the Patchawarra and Toolachee formations are gas saturated at the Queenscliff location. Within the Patchawarra and Toolachee units, a total of 34.8 m and 32.5 m of net sandstone gas pay was encountered respectively, within a total 154 m gross gas column. A further 30 m gross gas column, with 10 m net gas pay, was encountered within the Paning Member of the Nappamerri Formation. During drilling elevated gas readings (1,253 units, over background gas of 70 units) were observed in both the Paning Member of the Nappamerri Formation and in the Toolachee and Patchawarra formations. The highest readings were observed within the Toolachee Formation, between 3,046 and 3,051 m. Additional readings, of 708 units over a background reading of 70 units, were observed between 3,051 and 3,061 m also within the Toolachee Formation.
Real Energy Corp Ltd looking to farm down Cooper Basin assets, including the Windorah Project