Norwest to Drill West Oz Well in 2020
Sydney-listed Norwest Energy has approved a joint venture resolution to drill the EP368 exploration well in H1 2020 at Lockyer Deep in Western Australia, the company said on December 9 in a statement. Norwest has a 20% interest in the EP368 joint venture, which is operated by Energy Resources, a division of Mineral Resources, with 80%.
The well is situated approximately 15 km due east of the Waitsia gas field and directly on trend with the recent West Erregulla-2 gas discovery which, as recently reported by Strike Energy, has 2C contingent resources of 1.19 trillion ft3 gas, Norwest said.
According to Norwest, the Lockyer Deep-1 offers the highest geological chance of success (GCoS) for testing of the Permian Kingia/High Cliff conventional gas play within the combined Lockyer-North Erregulla Deep greater structure, for which the company estimates prospective resources of up to 1.12 trillion ft3 gas. Norwest said it is presently re-evaluating the GCoS for the Lockyer Deep location and will announce its revised estimate this month.
Norwest said it is fully funded to cover its share of its costs at the Lockyer Deep-1 exploration well.