Finder Exploration Pty Ltd is offering a farm-in opportunity in Exploration Permit AC/P61, located in the Vulcan Sub-basin, Bonaparte Basin. On 5 September 2018 Sapura Energy Bhd reported that it had signed a farm-in agreement with Finder to acquire 70% interest and operatorship in AC/P61, EP 483, TP/25 and WA-412-P. Finder will retain 30% working interest. Finder was awarded AC/P61 within the Territory of Ashmore and Cartier Islands in June 2016 after it was offered as AC15-1 in the 2015 Federal Offshore Acreage Release. Finder is also considering offering a potential farminee access to the remainder of its Australian portfolio.  Finder first plans to undertake pre-stack depth migration seismic reprocessing, geological/geophysical studies and prospect de-risking studies during the first three-year term. The first exploration well is not scheduled until the sixth year term. The commitment to drill the well, which is forecasted to cost AUDÂ 15Â million, must be made before the start of the term on 23 June 2021.     In May 2017 Finder outlined that the Gem Prospect had been identified for potential drilling, with a possible 130 MMb oil in place.Â  A development option for Gem, and possible discoveries from surrounding prospects, has been formulated for commercialisation.     Both Upper Jurassic and Upper Cretaceous fan sandstones have been proven within the Vulcan Sub-basin and the permit is surrounded by the Oliver, Tenacious and Audacious oil discoveries. However, all five wells drilled within the permit boundary to date are dry (with the exception of minor oil/gas shows). The entire permit area is covered by the 1998 Onnia MC3D survey, acquired by PGS. At the time of acquisition the data was considered to be of excellent quality. Additional 3D seismic data covers the north-eastern area by the Schwarzer survey which was shot in 2007 over the Katandra and Audacious fields.     AC/P61, which covers an area of 335 sq km, was awarded on 22 June 2016. Once the farm-down to Sapura is complete, Finder will hold 30% interest through its subsidiary company Finder No 1 Pty Ltd, and is actively seeking a farm-in partner.  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 Pty Ltd is offering a farm-in opportunity in Exploration Permit AC/P61, located in the Vulcan Sub-basin, Bonaparte Basin.