News and Announcements
Advent Energy Ltd FY15 Company Update
- Published January 29, 2015 2:22PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Beach Energy have recently released results from the drilling of their Cullen -1 well in the Bonaparte Basin in the area adjacent to Advents’ Bonaparte areas .Beach report extracts include :
“Initial Cullen-1 findings highly encouraging and results currently being assessed’
“1,600 metres of over-pressured marine shale with variable carbonate content
- Encouraging gas and oil shows in tight sands
- 54 metres of core recovered”
“ 1,000 metre of fractured platform carbonate
- Elevated gas shows over natural fracture intervals
- Extended production testing required to assess potential”
Advent Energy is currently in negotiations with a number of parties on the terms of investment.
ABOUT ADVENT ENERGY
Advent Energy is an unlisted oil and gas exploration company, with a strong portfolio of exploration and near-term production assets in Australia. Key assets comprise three very significant upstream gas projects with LNG market potential – a conventional gas and shale gas project (EP386 & RL1, 100%, WA & NT) and an offshore project (PEP11, 85%) adjacent to Australia’s eastern gas market.
Advent has announced a considerable potential shale gas resource within EP386 and RL1 of 9.8 Tcf of Prospective Resources (Best Estimate). A mean Contingent Resource of 18.4 Bcf for the Weaber Gas Field (RL1) has been independently assessed.
Prospective Resources within the PEP11 offshore permit have been independently estimated at 5.7 Tcf (P50).
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