Sydney-listed Talon Petroleum on March 17 said that the Condor structure could be the Perth basin’s largest untested wet gas structure.  

The company has released initial estimates of the recoverable prospective resources at its Condor prospect, contained within EP494 and SPA0081, located onshore Perth basin. According to the company, the Condor structure, formerly called Muchea, has up to 710bn ft³ of conventional gas resource potential. 

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Talon had agreed on preliminary terms in January this year to acquire rights to the Condor structure from Macallum Group. The formal agreement in respect of this acquisition has now been executed, the company said. 

The company said that Condor provides an important follow-on drilling opportunity in the event of success at its planned maiden Perth basin well Walyering-5, that will appraise the Walyering wet gas discovery. This well is to be drilled with partner and operator Strike Energy later this year. 

“This is an exciting step forward for Talon in its Perth basin strategy,” Talon managing director David Casey said. “Talon now has access to another conventional gas play that could, if matured by our planned work programmes, deliver up to 10 times the resources we are targeting with appraisal drilling at Walyering.” 

Additionally, there is potential for the gas composition to contain an even higher, value-adding component of condensate than is projected for Walyering, he added. 

Talon made its entry into the Perth basin last year, securing a 45% interest in the Walyering wet gas discovery in permit EP447 from its Sydney-listed operator Strike.