Key Petroleum Ltd, through wholly owned subsidiary Key Cooper Basin Pty Ltd, is offering a farm-in opportunity in three exploration permits located in the Cooper-Eromanga Basin: ATP 783, 920, & 924-P.Â  Key is looking for a partner to assist in funding the exploration programmes and make a cash consideration to cover back costs, in return for 50% interest in the permits.  Key Petroleum acquired the permits from Beach Energy, with the deal finalizing on 28 June 2017. Key reported that it would commence discussions with the DNRM around the assigned work programmes to focus on conventional gas exploration within the Permian, basin-centered gas fairway. There are no remaining work commitments with the permits scheduled to expire between February and May 2019. It is expected that new commitments will be negotiated upon renal applications.  ATP 920-P was awarded on 11 February 2013 and covers an area of 2,845 sq km. The permit lies on the western Jurassic oil fairway with Triassic and Permian gas potential. Key is assessing the potential extension of the Permian formations to increase the gas fairway potential within the permit area.  ATP 924-P was awarded on 15 February 2013 and covers an area of 2,302 sq km.Â  The permit has been outlined to have potential for Permian gas within channelled sands, with additional opportunity in Triassic and Jurassic units. Total prospective resources are estimated between 133 to 320 Bcf (low to mid case). The Barrolka field, which lies around 25 km south of the permit, has been outlined as an analogue field to potential hydrocarbon accumulations within ATP 924-P. Barrolka was discovered in 1976 and has been producing since 1999.Â  The primary reservoir is within the Permian Toolachee Formation.   A number of structures have been mapped from 3D seismic data within the permit area, resulting in several prospects. Along the proven Permian gas play â the Taj oil Prospect contains multiple targets within channel stratigraphy. In the Triassic sections, the Alfajor, Afgan and Abernethy structures remain untested. Also, within a fault independent closure, the Ace Prospect is untested. At the Toolache level, a structural closure offers Cheetah and Bobcat Prospects.  ATP 783-P was awarded on 9 May 2013 and covers an area of 1,615 sq km. Key reports that the permit area contains eastern flank gas play potential within the Permian level.  Companies interested in these opportunities should contact:  Kane Marshall  Email: kmarshall@keypetroleum.com.au    Ric Jason  Email: rjason@keypetroleum.com.au    Tel: +61 (0) 8 9381 4322
Australia, ATP 924-P