UIL Energy Identifies Gas Leads in Australia's Perth Basin

UIL Energy Ltd has identified a substantial number of early stage conventional gas and liquids leads in Australia’s Perth Basin.

The company said it has reviewed historic 2D seismic data along with the drilling results of wells within, and adjacent to its central (EP 447, EP 488 and EP 489) and north Perth basin permits (EPA 82, EPA 98 and EPA 99). The review has resulted in upgrading its technical assessment of the exploration potential in these areas.

The review uncovered 14 exploration leads, five in UIL Energy’s northern Perth basin permits and nine in its central Perth basin permits.

The 14 conventional leads are in addition to multiple unconventional tight gas leads that have previously been identified, UIL said. The company will look to optimise well locations to test both conventional and unconventional targets that may occur in stacked sequences maximising the chances of success.

"The leads are interpreted to potentially contain gas and gas/liquids which, if successfully drilled, can easily be commercialised in the undersupplied Western Australia gas market. UIL Energy plans to further de‐risk the leads by shooting 2D and 3D seismic over them in order to establish drillable prospects," the company added.

UIL Energy is progressing approvals and commercial arrangements with contractors for its proposed seismic program over parts of its Perth Basin permits.