Terra Nova Energy Ltd and Holloman Corp are seeking to divest their combined 100% interest in exploration licences PEL 112 and PEL 444, located in the Cooper-Eromanga Basin. Both companies would consider farming-down around 80% combined interest or fully divesting ownership to interested parties. If the companies are successful at fully divesting their interest, it will result in Australian exits for both.  The permits are located in the Western Flank Fairway and Terra Nova reports that there are a number of Namur and Birkhead structural prospects within both permits.  In PEL 112 covers an area of 1,000 sq km and was awarded on 17 April 2003. Terra Nova has outlined the Milo, Libby and Drole structural prospects, which combined hold a potential 9 MMb oil in place. Milo is outlined as the primary target, with the largest potential resource and lowest risk. One exploration well is due in 2019. The well will likely target one of these prospects and be positioned from the 2012 Mulka 3D seismic survey, which is located in the north of the permit area.   Wolfman 1 well was drilled within the Mulka very area in 2013. It targeted a dip closure in the Namur Sandstone at around 1,200 m depth but was dry at location. Secondary, deeper, targets of the Birkhead and Hutton formations were also dry.  PEL 444 covers an area of 1,150 sq km and was also awarded on 13 April 2003. Terra Nova has identified the Maverick mid-Birkhead prospect which is considered as a key exploration target.Â  It has a potential 1.71 MMbo resource. The Crater and Moraine Namur prospects have also been outlined as potential targets. The prospects in PEL 444 have been identified from the merged Jasmin and Wingman seismic datasets, which Terra Nova has reported as providing high level mapping of the licence. Terra Nova considers there is potential for the Hoplite 1 oil play fairway to extend into PEL 444. One commitment well is due in 2021.  The Baikal 1 well was drilled in 2015, located approximately 8 km west of Hoplite 1. The well targeted this the oil play within the mid-Birkhead channel sands but was dry at location. However, the channel sands, which were mapped from seismic, were encountered and now provides qualification to the current exploration model.  PEL 112 and PEL 444 are held by Terra Nova Energy Australia Pty Ltd (a Claren Energy subsidiary - 51.5% + Operator) and Holloman Petroleum Pty Ltd (48.5%).Â  Companies interested in these opportunities should contact:  Istvan Gyorfi, Exploration Manager, Terra Nova  Phone: +65 9152 5427  Email: Istvan.gyorfi@paclng.com
Australia Holloman Corp, Terra Nova Energy (Australia) Pty Ltd looking to divest PEL 112 and PEL 444, Cooper-Eromanga Basin