Finder Exploration is offering a farm-in opportunity in exploration permit WA-500-P, located in the Exmouth Sub-basin. Finder is offering up to 65% interest, and potentially operatorship, to a farm-in partner interested in taking part in the work programme over the permit.Â  Initially an option fee would be paid for access to data, with the farminee then having the option to acquire interest by reimbursing past costs and taking on work programme funding.Â  Finder reported that a data room opened in Q1 2018.  Searcher Seismic undertook the 504 sq km âDunnart MC3Dâ seismic in July 2015, with part of the data acquired over WA-500-P.Â  Finder reported that potential farm-in partners could pay the option fee to get access to the data and also to the data set from the previously acquired âDrop Bearâ 3D seismic.Â  If the partner wished to continue, it would be required to pay some back costs and also to fully fund the remaining permit costs.Â  On 9 May 2019, Finder received approval to alter the final term six work programme by removing the commitment to drill an exploration well. The AUD 30 million well has been replaced with seismic reprocessing work.   The new programme, which is estimated to cost AUD 220,000, will see Finder completing 200 km PSDM reprocessing of the Dunnart 2D seismic data set and WEB-AVO Inversion of 480 sq km Drop Bear3 3D seismic survey data. The original work programme already included interpretation and anomaly mapping from these seismic datasets.  Finder was offering a farm-in opportunity with the attempt of being free carried for the exploration well. With this now removed, Finder will continue to fund the work programme and back payments would be sought after in return for any future farm in agreement.  Finder reports that the permit is prospective for hydrocarbons within the Triassic Mungaroo, Jurassic Eliassen and Cretaceous fan units. In May 2017 Finder outlined the Kapteyn Prospect as the major target within the permit, identified from data over the permit area.Â Â    WA-500-P, which covers an area of 2,185 sq km, was awarded on 17 April 2014. Finder Exploration currently holds 100% interest and operatorship in the permit.  Companies interested in pursuing this opportunity should contact:  Shane Westlake, CEO  Finder Exploration Pty Ltd, 9 Richardson Street, West Perth, WA 6005.    Tel: +61 8 9327 0128    Email: s.westlake@finderexp.com
Finder Exploration is offering a farm-in opportunity in exploration permit WA-500-P, located in the Exmouth Sub-basin. Finder is offering up to 65% interest, and potentially operatorship, to a farm-in partner interested in taking part in the work programme over the permit.