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Finder farms out big Carnarvon stake to Woodside

Written by  OE Staff Tuesday, 05 September 2017 10:13

Finder Exploration has signed an agreement to farm-out 90% of its participating interest in exploration permit WA-520-P to Woodside Energy.

The license is in the northern Carnarvon basin, offshore Australia’s North West Shelf, directly south of the Gorgon and Clio major gas fields.

Finder CEO Shane Westlake said from the acreage review, the firm identified large multi-TCF Triassic gas and large Cretaceous oil prospects.

“We are now looking forward to working with Woodside on the new Isometrix Exmouth MC3D seismic data acquired earlier in the year with processing expected to be finished in May 2018.

“The permit is ideally located amongst some of the largest gas discoveries on the North West Shelf and this transaction is another step towards becoming a leading explorer in the region,” he said.

In March, Finder began the farm-out process for its Eagle prospect in exploration permits EP 483 and TP/25 permits, located in the Barrow Sub-basin and Peedamullah Shelf of the Northern Carnarvon basin, respectively.

Map from Finder.

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