Echuca Shoals WA-377-P
(Nexus 100%)

The exploration permit WA-377-P located in the Browse Basin, offshore Western Australia was awarded to Nexus (100%) in March 2006. The permit contains the Echuca Shoals gas discovery, located in close proximity to the Ichthys and Prelude gas fields. Echuca Shoals-1 was drilled in 1983 and encountered gas at several levels.

 

Echuca Shoals-1, intersected a gas column over a 70 metre gross interval, but did not intersect a gas water contact (GWC). Pressure data from the well indicated the potential for a significant column and the likelihood that the accumulation was stratigraphically trapped. The pressure data also allowed for the possibility of condensate rich gas, no samples had been collected in the original well.

 

Fossetmaker-1 was drilled in August 2007, 7 kilometres east of Echuca Shoals-1 to evaluate the possible eastern extension of the field. The well intersected approximately 10 metres of gross pay however pressure communication with Echuca Shoals-1 was unable to be determined due to the tight reservoir.

 

The potential gas in place at the Echuca Shoals gas field within WA-377-P is approximately 2 Tcf, with the potential for associated condensate. Geological studies also indicate the presence of a deeper exploration target which has the potential to add another 2 Tcf of gas in place. Two additional leads in a deeper and older reservoir section have also been identified on 3D seismic in the north-east of the permit. Nexus plans to farm-out equity in the permit to fund drilling activity.