Oilex secures exploration permits for Canning basin, Australia

Australia’s Admiral Oil, a subsidiary of Oilex, has secured two petroleum exploration permits from the government of Western Australia for the onshore Canning basin.

Gazettal blocks L12-08 and L12-09 cover around 6,444km², or 1,600,000 acres, in the onshore Canning basin.

The company, along with the adjacent 100%-owned Special Prospecting Authority SPA-0055, can control the entire Wallal Graben, one of the deep undrilled half graben of Australia’s onshore unconventional basins.

Oilex’s acreage will increase to about 17,840km² in the area with the latest deal, and is expected to hold similar geological characteristics to the company’s Cambay field.

The Canning basin holds the largest unconventional hydrocarbon potential in Australia, according to the US Energy Information Administration (EIA).

The process of planning and competitive tendering for an airborne gravity and magnetic survey has started for SPA-0055.

Oilex plans to acquire a single large survey to achieve cost efficiencies and technical understanding of the area’s potential.

The company has a chance to convert the portion of SPA-0055 into a petroleum exploration permit, under the special prospecting authority terms.

The successful applications of L12-08 and L12-09 are expected to conclude a farm in agreement, with an interested party or parties for Oilex to start filed activities.

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Image: Admiral Oil secured permits for two gazettal blocks, L12-08 and L12-09, which cover around 6,444km² in the onshore Canning basin. Photo courtesy of Calistemon.