EP-494 and EP-511
MNE is 100% owner of EP-494 and EP-511 encompassing a significant footprint in the lucrative onshore Perth Basin. The core assets are host to a portfolio of opportunities with ~2 Tscf of unrisked 2U prospective resource.
Around AU$2.5B in corporate activity has occurred on the back of 7 commercial discoveries since 2015 comprising ~1,360 2C Resource. This significant consolidation makes MNE one of the last remaining plays in the onshore Perth Basin.
Primary gas prospects
Barberton Terrace Deep (BTD): Drill-ready Kingia prospect
Between 2019 and 2022 MNE completed ~142km of 2D seismic covering an area of approximately 500km2. Interpretation and geologic modelling has defined an unrisked 2U prospective resource of ~1,280 Bscf, making BTD one of the largest un-drilled Permian structures identified and matured in onshore Western Australia, estimated to be around 100km2.
The location for exploration well BTD-1 has been selected, and is drill ready subject to permitting and funding.
Yarra and Gadee: Jurassic leads with potential seismic flat-spots
During the regional seismic mapping of the Intra-Yarragadee, MNE identified the Yarra and Gadee structural leads downthrown against the Muchea Fault.
On the back of MNE's 2022 seismic survey, the Yarra Lead was identified from a single seismic line, and the Gadee Lead was interpreted from two seismic lines.
A 90 km² 3D seismic survey covering the Yarra and Gadee Leads is planned and commissioned. Geological and geophysical studies will subsequently be undertaken based on the new seismic dataset.
Both the Yarra and Gadee leads show evidence of Direct Hydrocarbon Indicators (DHI's) including boosted amplitude and a flat spot. If DHI's are validated on the forthcoming 3D seismic data, these are strong indicators of a seismic response to gas-charged reservoir in the thick sandstone sequence intersected in Yallallie-1
Condor: Structural lead
The Condor lead was mapped using two seismic lines from the 2022 MNE seismic survey. The expected Intra-Yarragadee reservoir section in the Condor Lead has been intersected by the Eclipse-1 and Bullsbrook-1 wells
The lead was recognised by previous operator Talon Energy before it was handed back to MNE after the takeover from Strike Energy.
The proposed 2D seismic program by MNE will aim to better define the Condor Lead structure.
