Perth Basin (Australia)
Resource Project Development (Exploration and/or Appraisal)
Exploration Permit EP 437
Since award in November 2004, CalEnergy has been a substantial interest holder in onshore exploration permit EP 437, located approximately 350 kilometers north of the city of Perth, Western Australia. CalEnergy has farmed out a 45 percent interest in the permit and commenced a drilling campaign for two wells in early 2011. No commercial hydrocarbons were encountered, and both wells were plugged and abandoned. The joint venture will review and integrate the drilling results and review the remaining prospectivity in the block.

Exploration Permit EP 408
Exploration Permit EP 408 is located in the onshore Southern Perth Basin, approximately 280 kilometers south of Perth, Western Australia. The permit contains the Whicher Range and Wonnerup gas fields, which were discovered in 1968 and 1971, respectively.

The Whicher Range structure is a large, well-delineated gas field. Seismic data and the drilling of five exploration/appraisal wells has defined the field, extending beyond a 100 square-kilometer area, a gross hydrocarbon column height of 650 meters.

In 2011, CalEnergy Resources (Australia) Ltd entered into a farm in agreement to earn up to 50 percent participating interest in EP 408 with Whicher Range Energy (Operator) to undertake a phased appraisal and development work program. The proposed appraisal program addresses key uncertainties for the Whicher Range field:
  • Ability to enhance productivity by drilling underbalanced (diesel) wells
  • Confirmation of volumetrics
  • Reservoir characterisation
To address the first key uncertainty, the joint venture intends to re-enter Whicher Range-4 and sidetrack the well using underbalanced drilling techniques in 2012. An extended well test will be conducted to evaluate sustained production performance. On the assumption that underbalanced drilling enhances productivity, the appraisal program will progress to address volumetrics, development concept definition and commercialization.

Resource Development
Producing
Gas Fields
Share of Remaining
Reserves as of 1/1/12
Share of Contingent Resources Current Percentage
Poland - Greater Zaniemysl Area 5.3 Bcf - 24.5%
Victor 1.2 Bcf - 5%
Gas Projects in Development Permit
Status
Current Percentage
Working Interest
Perth Basin Evaluation 2011 55%
Otway Basin Evaluation 2011 5%
Block 48/1a, 48/1c and 47/5b Appraisal Drilling Early 2012 15%
Poland Evaluation 2012 100%