Properties
Australia - Cooper Basin
The Cooper Basin
Holloman in the Cooper

Holloman in the Cooper

Holloman holds its interest in 4,544 square kilometers (1.125 million gross acres) of oil property under two Petroleum Exploration Licenses (“PELs”) granted by the Australian government. PEL 112 is comprised of 2,196 square kilometers (542,643 gross acres) and PEL 444 is comprised of 2,358 square kilometers (582,674 gross acres). Both licenses are located on the southwestern flank of the Cooper Basin in the State of South Australia.

Our PEL 112 permit is approximately 35 kilometers west of the Cooper Basin margin.  Recent drilling adjacent to PEL 112 has resulted in 20 of 27 wells drilled successfully with initial production rates ranging up to 3,000 barrels of oil per day. In 2008-2009 alone, eight new oil fields from 30km to 12km from PEL 112 were discovered containing from 1 to 11 million barrels of unrisked in-place prospective resources.  

We have identified 38 leads on PEL 112. Five of these leads were targeted for evaluation and were determined to have mean unrisked in-place prospective resources ranging from 56 million barrels to 70 million barrels for a 100% working interest.  The mean unrisked recoverable prospective resource potential for the five leads range from 19 million barrels to 24 million barrels and the total mean unrisked recoverable prospective resource potential for the five leads is greater than 100 million barrels.

The Cooper Basin is clearly delineated on geological maps based on the scope of Permian sediments deep underground.  The borders of the Cooper Basin, were drawn some time ago based on then-available seismic and exploration data.  More recent exploration and drilling, however, supports a remapping of Cooper’s Permian sediments which extends their reach farther to the west than was previously thought.  This places the oil-rich Permian sediments closer to PEL 112, placing it within a “fill and spill” migration path extending to south-westwards from these sediments.

Migration path analysis conducted by ISIS Petroleum Consultants Pty. Ltd. of Australia, an independent and internationally recognized petroleum geological, geophysical and engineering firm our independent engineers concludes that:

  • Recent exploration drilling on neighbouring PEL 92 is on trend with PEL 112 and has been very successful in finding multiple oil pools.
  • The current model presumes Permian-sourced oil is charging reservoirs in the Jurassic adjacent to the Permian zero edge. Oil in the Parsons, Perlubie and Perlubie South wells supports this lateral migration.
  • Both the oil migration pathway for the PEL 92 oil fields and the central and northern part of PEL 112 have a monoclinal dip into the kitchen . Oil generated in the Permian migrates laterally to the basin margins and vertically when conduits are present.
  • Likelihood of charge into Jurassic reservoirs is improved by proximity to the subcropping Permian strata
  • The Cooper’s Permian section subcrops the base Jurassic unconformity downdip from PEL 112. This subcrop provides a direct conduit for migrating oil into the overlying section.
  • Discontinuous shales and faults allow vertical migration within Eromanga Basin sequence

 

Although less information is available on PEL 444, it is also in close proximity to Cooper’s “Oil Kitchen.”

We are currently seeking joint venture partners to join in the exploration and development of our oil properties. Global industry giant Macquarie/Tristone is acting as exclusive advisor to facilitate that search (click here).