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Comet Ridge provides update on Galilee Basin seismic project

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Oilfield Technology,

Comet Ridge Ltd has provided an update on its current Galilee Basin seismic project in Queensland, Australia, that is being undertaken with joint venture (JV) partner, Vintage Energy Ltd as part of the Galilee Deeps Joint Venture (GDJV).

This 2D Koburra seismic project has four major components:

  1. Acquisition of 336 km of new seismic data across a wide area of the project in the Galilee Basin. This component was completed in 1Q19 and is summarised in releases to the ASX on 2 January and 5 March 2019;
  2. Processing of the raw data acquired as part of the 336 km acquisition programme;
  3. Re-processing of a further 896 km of existing historical 2D seismic data that had been acquired between 1980 and 2011. The reprocessing of this 2D seismic has greatly improved image quality, enhancing horizons below the Permian coals.
  4. Interpretation of the entire new seismic database in order to identify regional trends, further leads and prospects and to mature existing prospects towards drillable status. The technical work on the interpretation has been undertaken by the skilled team at Vintage with the first pass interpretation completed this week.

This seismic programme has been extremely valuable in identifying regional structural trends, firming up a number of the leads and has added four new leads.

Comet Ridge and Vintage will now use this information to finalise the seismic interpretation to generate an updated leads and prospects map which will guide the exploration and appraisal strategy for the large project area.

Lake Galilee Structure

The programme has also confirmed the existence of a four-way dip closure at the significant Lake Galilee prospect. This structure was drilled by the Lake Galilee 1 oil exploration well in the 1960s with the well flowing gas at low rates and recovering minor amounts of oil on test.

This was the first evidence of a hydrocarbon accumulation in the Galilee Basin however, at the time, with no gas infrastructure in the country, there was no prospect of commercial gas production.

Interpretation of the newly acquired Koburra 2D seismic lines and reprocessed lines appears to show that Lake Galilee 1 was drilled on the edge of structural closure, now giving significant up-dip potential. It is estimated that the structure covers an area of approximately 20km2 with a closure height of approximately 60 m.

Regional interpretation

The newly acquired seismic data also shows greater evidence of faulting through the underlying Drummond section and into the Galilee Basin. This faulting may provide significant scope for migration of hydrocarbons out of the deeper Drummond Basin/Belyando Basin sections. Rollover features identified on the seismic may represent suitable structure to trap migrated hydrocarbons. Additional seismic will be required to firm up these particular identified leads.

Further interpretation and analysis will continue on the data set over the coming days as the GDJV prepares to spud the Albany 2 well. A further drilling update will be provided over the next several days.

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