Cue Energy discovered a new play type offshore Western Australia and is requesting an extension from NOPTA in order to allow further time to mature the prospect.
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Map from Cue. |
The new play type, Ironbark, is located in Cue's WA-359-P permit and is associated with the prolific gas-bearing Mungaroo formation.
According to Cue, the new prospect Ironbark has multiple objectives and has been identified as a primary candidate for drilling in the permit. The company applied to NOPTA to have the year 3 well commitment suspended to allow further time to mature the prospect and plan for drilling.
Ironbark has bee mapped as straddling both the WA-359-P and nearby WA-409-P permit. If approved, drilling will begin at WA-359-P and if successful, possible appraisal drilling in WA-409-P.
A farm-out process is underway to find suitable joint venture partners for the drilling of the well.
Cue is currently 100% owner and operator of WA-359-P.
At WA-409-P, a 12-month extension was granted by the NOPTA until April 2016 to allow further technical analysis of the Ironbark prospect. Cue acquired 100% of the permit in February 2015 and is now 100% owner and operator.
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