AC/P 32 Vulcan Sub-basin 500 MMboip Prospect Timor Sea Australia Farmin Opportunity Contact: operationsbountyoil.com (see Slide 15) January 2014 Utopia 14 Drilling
Key Points Bounty holds AC/P 32 in the oil prolific Vulcan Sub basin, Timor Sea, Australia Major 3D seismic reprocessing project undertaken for Bounty by Schlumberger in 2013 has better defined the Azalea Prospect as the principal…
Key Points - Commercial A discovery at Azalea will involve the farm in participants in a project with larger potential than any of the other Vulcan Graben oil projects such as Jabiru, Challis and Montara Significant production…
Permit Status and Opportunity Bounty has met or exceeded all work program commitments until June 23, 2014 and anticipates renewal Bounty anticipates commitment to one exploration well by June 2014 to take permit into next term…
Introduction - Regional Setting AC/P 32 covering 500 km2 is located in the oil prolific Vulcan Graben surrounded by oil fields The adjacent Montara oil field 25 km SE currently produces 9,000 bopd and is operated by PTTEP Azalea…
AC/P 32 Leads and Prospects Prospects and Leads in Puffin Formation (Green) Azalea at 64 km2 and 500 MMboip is by far the largest target, trapped in sea floor fan sands with excellent porosity and permeability East Swan A Sand is a…
Work Completed to Date The entire permit is covered by the Onnia 3D survey which has been reprocessed in AC/P 32 in 2010/11, and over the Azalea Prospect and westwards out of the permit in 2012/13 The 2013 work greatly improved…
Stratigraphic Framework and Petroleum System Source and Migration In AC/P 32 only the Plover Formation is mature Migration is vertical up faults which were open at intervals from Jurassic to Recent Oil in Birch 1 in the Puffin…
Puffin Sands Hydrocarbons and Seals This map shows the P Impedance view of the Puffin P Impedance Top Puffin Sands (Low sand horizon immediately underlying the Top gold) Cretaceous Unconformity The fan like geometry of the Azalea…
Azalea Prospect Structure The main elements of the structure at the Puffin Sand level are: the NW-SW and NE-SW striking erosional highs which the Top Cretaceous Unconformity stripped (white coloured areas) and which provides the up…
Azalea Prospect - Compelling Target W E Showing the eastwards convergence of the Puffin Upper and Lower sands at Birch 1, and the up dip development of good low impedance sands Seismic also suggests a good top sealing shale for…
Charge Anomalous gas in up dip seal W E This diagramme illustrates the interpreted sand distribution in the Lower Puffin Sand and that the sand body shales out before the horizon is intersected by Wisteria 1 There is a distinct…
Charge Shallow Gas and HRDZ Associated with the zero edge of the Puffin Sands and directly related to Palaeogene age faulting is a shallow gas and hydrocarbon related diagenetic zone (HRDZ) in the Oliver Sandstone, a very similar…
Azalea Volumetrics Based on Interval Isopach derived from Seismic Probabalistic Resource Estimates Azalea Prospect From lowest to highest risk OOIP MMbo Recoverable Target MMbo Volume P90 P50 P10 P90 P50 P10 A 100 135 178 20 30 43…
Contacts Bounty Oil and Gas NL Level 7, 283 George Street, Sydney, NSW 2000, Australia P: +61 2 9299 7200 E: operationsbountyoil.com Philip F Kelso CEO P: +61 2 9299 7200 E: geobountyoil.com Malcolm Lennox Exploration…
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