Ascalon Gas – appraisal

Discovered in 1995 by Mobil, the Ascalon gas discovery is an appraisal and development opportunity currently located within exploration permit WA-407-P. Octanex has been granted a Location over the Ascalon gas accumulation, a first step in preparation for application for a Retention Lease over the accumulation.

The gas is contained in a faulted horst structure within shallow marine sandstones of the Late Permian, Cape Hay Formation of the Hyland Bay Subgroup. Mapping on modern 3D and newly reprocessed 2D seismic indicates a closure over an area of 260km2 with a maximum closure height of 380m. The lowest closing contour appears coincident with lowest know gas defined from logs in the Ascalon-1A well. Modern petrophysics indicates a 146m gross gas column within the Cape Hay Formation in the Ascalon-1A well, which is located off the crest of the structure. The reservoir sandstones within the Cape Hay Formation are tight, not unlike those in the nearby Petrel and Tern gas discoveries.

 

Ascalon Field & Leads (latest) - July 2015

PURSUING NEAR TERM PRODUCTION EXPANDED STRATEGY