document: Bunbury Energy Pty Ltd is offering a farm-in opportunity for its 100% owned exploration licence EP 496, located in the Bunbury Trough, Perth Basin. Bunbury Energy was awarded the permit on 9 October 2017, which covers previously un-licenced acreage in the basin. The equity available is open to discussion with interested parties, in return for assistance with the forthcoming exploration work programme. Operatorship is also available but will be offered based on the expertise and experience of the interested Farminee.   The first well in the permit area is scheduled for permit term four, with a second in permit term six at a cost of AUD 5 million per well. Due to the lack of data available, no prospects or leads have been identified. However, Bunbury Energy has reviewed the geology and likely targets, placing both as analogous to the Whicher Range gas field that was discovered in 1968. Under the permit award terms, no hydraulic fracturing is permitted after a ban was introduced in September 2017. However, as with the Whicher Range field, which saw five failed attempts to fracture stimulate the Willespie Formation, Bunbury Energy anticipates that the clays of the Willespie Formation (around 16%) would inhibit the process and will only consider conventional exploration within the permit.  Approximately 70 km of vintage 2D seismic data has been acquired within the permit along single lines following main roads and not in any conventional survey configuration. New surveys will again run along existing roads. Bunbury Energy already has permission from Main Roads Western Australia to conduct the surveys and the environmental planning is being finalised.  In May and September 2018, Bunbury made changes to the conditions of the first two year work programmes by introducing a six month suspension and deferring planed 2D seismic acquisition. The deferred seismic incorporated into the term two increasing the planned 50 km to 200 km 2D seismic data acquisition. The seismic survey is planned to be conducted primarily along public roads and rights-of-ways using up to four vibrator trucks. A community engagement period before data acquisition is planned to deal with public enquiries and provide education on seismic surveying. Once the seismic has been acquired, processed and interpreted, Bunbury will assess the remaining work commitments and plans for future exploration within the permit area.  EP 496 covers an area of 669 sq km and was initially applied for as application STP-EPA-0132 on 15 May 2015. The permit has been awarded for a period of six years and it will expire, or be eligible for renewal, on 8 October 2023. Bunbury Energy Pty Ltd is seeking a farm-in partner to explore the new acreage of the Perth Basin which lies 25 km to the north-northeast of the CalEnergy Resources operated Whicher Range field.   Companies interested in pursuing this opportunity should contact:  Wal Muir, CEO   Email: wmuir@bunburyenergy.com.au   Tel: +61 (0) 4 1305 2327
summary: Bunbury Energy Pty Ltd is offering a farm-in opportunity for its 100% owned exploration licence EP 496, located in the Bunbury Trough, Perth Basin. 