Location and Status
Basin: Bonaparte Basin, Vulcan Sub-basin
Area: 337 km2
Water Depth: 100 – 340 metres
Status: Exploration Permit
Finder Energy (30%)
Sapura Exploration and Production (70%, Operator)
- Located in a proven hydrocarbon province surrounded by oil discoveries including the depleted Jabiru and Challis Oil Fields to the south, and the Tenacious, Audacious and Oliver sub-commercial oil and gas discoveries to the West, East and North of the Permit respectively.
- Farmout of 70% to Sapura for carry in Gem 3D seismic data acquisition and other permit expenditure, including an option to drill the Gem-1 exploration well.
- Gem oil prospect has a gross best estimate prospective resource of 64 mmbbl with a geological chance of success of 34%.
- In success development utilising FPSO with sub-sea development wells provides opportunity to tie-back nearby oil discoveries.