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Key Petroleum announces Tanbar Gas Project update in ATP 924

Gasoil News - Published on Mon, 15 Apr 2019

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Key Cooper Basin, a wholly owned subsidiary of Key Petroleum, announced an update on its 100% owned Tanbar Gas Project in ATP 924

After requesting tenders for drilling services at the Taj and Alfajour prospects, 3 tenders have been received from drilling contractors with availability for early Q3 and during Q4 of 2019

Four-year renewals applications for each of ATP 920 and ATP 924 have been submitted to the Queensland State Regulator, Department of Natural Resources, Mines and Energy

The extensive flooding during the Queensland wet season has prevented Key from undertaking on ground preparatory works however discussions around access have progressed with regard to Tanbar Station and on ground works are expected to commence in May in conjunction with field work at the Canaway Ridge Project

Reprocessing of the Hurron and Taj 3D seismic data has de-risked the prospectivity of both the Alfajour and Taj Prospects together with additional prospects located in the immediate area

Managing Director, Kane Marshall, said “Work at Tanbar is progressing. The rig market has tightened in the Cooper Eromanga Basin as industry activity has increasedbut there are slots available in Q3 and Q4. We are working through the tendersand are now looking at the timing of access, civil earthworks and heritage clearance with a view to locking in a rig for our Tanbar campaign. The reprocessing work, particularly the 3D seismic volumes,supports our geological model and provides a good level of confidence in our discussions with potential drilling partners. It is pleasing that after having executed the MoU with Beach and Santos for future gas processing that additional opportunities around the potential for future gas offtake and other commercial arrangements have presented. The Ace Lead and the associated Meeba Trend that continues into ATP 920, demonstrate that the portfolio is rich in blue sky upside. Key will provide the market with updates as new developments emergeand we will continue to keep the market fully informed as matters progress.”

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Posted By : Rabi Wangkhem on Mon, 15 Apr 2019
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