Tangiers Petroleum Strikes Gas Offshore Australia

Tangiers Petroleum on Thursday reported striking two new large gas finds in its 90% owned exploration permits WA-442-P and NT/P81 in the Southern Bonaparte Basin, off north-west Australia.

Phase-1 seismic interpretation mapping by Schlumberger, the two horizons showed  presence of “very large anticlinal structures” below the top Bonaparte structure,leading to the discovery of two new prospects, Nova and Super Nova.

The Nova structure,the company said, has a crest at about 3425 metres,encompassing a closure area of 240 square kilometres while the Super Nova lies deeper with a crest at about 6085 metres and a closure area of 232 sqkm.

“Tangiers is extremely excited about the prospects in the WA-442-P and NT/P91 exploration permits, especially structures of this potential scale positioned partially beneath existing oil accumulations at Turtle and Barnett in the Southern Bonaparte basin offshore,” Tangiers chairman Mark Ceglinski said.

Source: Tangiers Petroleum