ATP 549P – Queensland Cooper Basin
West Block: Drillsearch 25% and Cypress Block: Drillsearch 40%
Project Summary
ATP 549P is located south west of Queensland and in the Cooper Basin. It is strategically positioned on the western flank as the hydrocarbons migrate to the west and out of the adjacent basin deep (depocentre).
ATP 549P was initially granted on the 13th of April, 1993 and was transferred to Drillsearch in the year 2003. The Permit was renewed for a further four year term from the 1st of May, 2005.
ATP 549P (Cypress Block) is positioned adjacent to the Bunya and Thylungra gas fields. The two fields are located immediately to the northeast of the Permit and south-southwest of the Cocos and Mt Howitt gas fields. Also to the southwest of the Permit is a gas processing plant where pipelines pass through to connect the processing centre to the Bunya and Thylungra gas fields.
Numerous northwest trending fault zones dominate the Permit and nearby gas fields validate these play types. Potential gas reserves within the Permian Toolachee Formation have been the traditional target zones in this part of the Cooper Basin.
Recent Activity
There was no activity in these blocks during the year of 2009.
ATP 549P joint venturers are currently negotiating with the Operator and Regulator to maintain the permit in good standing and satisfy the permit conditions.