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Finder farms out Carnarvon permit to Woodside

Written by  AOG Staff Sunday, 03 September 2017 21:43
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Perth-based Finder Exploration said it has entered into an agreement to farm-out 90% of its participating interest in exploration permit WA-520-P, to energy giant Woodside.

Located in the northern Carnarvon basin, offshore Australia’s North West Shelf, the license is directly south of the Gorgon and Clio major gas fields.

Finder CEO, Shane Westlake said from the acreage review the firm identified large multi-TCF Triassic gas and large Cretaceous oil prospects.

“We are now looking forward to working with Woodside on the new Isometrix Exmouth MC3D seismic data acquired earlier in the year with processing expected to be finished in May 2018.

“The permit is ideally located amongst some of the largest gas discoveries on the North West Shelf and this transaction is another step towards becoming a leading explorer in the region,” he said.

In March, Finder commenced the farm-out process for its Eagle prospect in exploration permits EP 483 and TP/25 permits, located in the Barrow Sub-basin and Peedamullah Shelf of the Northern Carnarvon basin, respectively.

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