Future Potential for High Peak Royalties High Peak Resources hold royalties in a number of exploration and production
licenses within the Amadeus basin, NT, Australia
Central Petroleum have identified several targets for appraisal and exploration within permits where High Peak have royalties.
- Dukas-1 (EP112) drilled 2019 encountered indications of hydrocarbons and inert gases above the target, excess pressure prevented drilling into target and a future well is planned for 2022
- EP112 & EP124 contain multiple subsalt leads – potential will be based on success at Dukas
- Mamlambo oil prospect is located within PL6, P50 resource = 24mmbbl
- EPA155 contains Mt Winter discovery and has subsalt potential
Impact of Future Drilling for High Peak Resources Exploration and appraisal drilling in the Amadeus Basin has potential to increase oil and gas reserves over the next few years. Additional helium prospectivity is also recognised.
- Redrilling of the multi TCF Dukas structure will have the most impact for success in the Amadeus basin. Drilling is anticipated in 2022 following further evaluation and well planning by Santos
- A positive result at Dukas will open up opportunities to drill other large subsalt structures within EP112 EP124 & EP125 over which High Peak hold royalties
- Subsalt leads have potential for both hydrocarbons and helium gas as seen at Magee-1 and Mt Kitty-1. A commercial discovery of helium would have significant economic impact
- Exploration drilling at Mamlambo in PL6 will add to current oil production at the Surprise Field – this is a low cost, low risk opportunity that could be undertaken in the near term