• oil exploration

Projects Overview

Real Energy’s initial focus is on the exploration and development of unconventional gas resources and conventional oil and gas in the Cooper and Eromanga Basins.  The main unconventional play in Real Energy’s current asset portfolio is condensate-rich gas interpreted to be trapped as a continuous gas play in the Permian sedimentary sequence within the area of ATP 927P.  In addition, Real Energy will also pursue conventional oil and gas plays in the Eromanga and Cooper Basins within the Company’s permits.

Permit

Area (Km²)

Estimated petroleum initially in place (Mean BCF)

ATP 927P

1,718

13,761

ATP 1194PA

1,043

-

Total

2,761

13,761

                                                                                  Source: Independent Geologist’s Report – DeGolyer MacNaughton

 ØPermian Continuous Gas Play

Real Energy’s evaluation of ATP927P indicates the likely development of a continuous gas play within the Permian section in this permit. 

Gas trapped in sandstone reservoirs in the Permian sedimentary section in close association with the coals that provide the source of this gas, may form what is referred to as a continuous, or basin-centred, gas play.  In this instance, gas is trapped outside the limits of conventional structural traps, potentially forming an extensive accumulation in the deeper parts of the basin (such as in the north-western block of ATP 927P, for example).  The reservoir sandstones holding this gas are typically of lower reservoir quality, referred to as tight gas sands.  Conventional evaluation of tight gas intervals intersected in wells previously drilled in and adjacent to ATP 927P resulted in these wells being deemed to be non-commercial, or show wells.  In recent years, advances in the development of tight gas reservoirs have led in other basins to commercialisation of these resources. 

  ØConventional Oil and Gas Plays

 Seismic interpretation and mapping of Real Energy’s ATP 927P and ATP 1194PA  by Real Energy has identified a number of conventional structural traps within the Cooper Basin and the Eromanga Basin sedimentary sections.  These traps include both oil plays (typically in the Eromanga Basin) and gas-condensate plays in the Cooper Basin.  The oil plays in particular offer the potential where successful for early production and cashflow.  

 The Total Petroleum Initially-in-Place estimate for ATP 927P is shown below. 

 Conventional Leads Prospective Resource

 

Prospect

P90

P50

P10

Mean

Foxtail West 1.22 3.74 10.75 5.11
Alkina West 0.57 1.69 6.01 2.65
Marama East 0.96 3.90 12.46 5.62

Totals

13.38



                                                                                 Source: Independent Geologist’s Report – AWT International Pty Ltd

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