The “Deeps” (Queensland)
The “Deeps” tenements are located in the eastern Bowen and Surat Basins in south-eastern Queensland. The “Deeps” describes the stratigraphic sequences 100 feet below the base of the highly prospective Walloon Coal Measures of ATP (Authority to Prospect) 610P, 620P, 648P and 788P and associated Production Licences (PL). These sequences included the highly prospective Permian coals and convetional Jurassic reservoirs.
Pangaea has acquired the Undulla 3D and Werona 3D seismic surveys and has mapped multiple conventional and unconventional oil and gas prospects and leads. Pangaea has drilled a Permian CSG well which confirmed excellent gas content and saturation, and a conventional well which targeted Permian reservoirs with encouraging results.
Pangaea is in joint venture with APLNG and Queensland Gas Company Limited (QGC, a Shell Group business), to explore and develop the oil and natural gas potential of the “Deeps”.
Pangaea holds interests of up to 75% in the “Deeps”. APLNG and QGC are respective operators of ATP788P, and 610P, 620P & 648P and associated PLs.