Global Oil and Gas

EP127 - Technical Study Gains Momentum

Global Oil & Gas Limited (ASX: GLV) (Global or Company) is pleased to advise shareholders with an update on the planned exploration program over its 100% owned Exploration Permit 127 in the Northern Territory.


Following the successful 2D seismic reprocessing and subsequent interpretation studies in the permit, the Company is now planning a 2D seismic program that will be conducted in 2024 to further delineate potential targets.

Figure 1 - Reprocessed Seismic

Based on a considerable data quality uplift from the reprocessed seismic the geological interpretation has been refined and several leads identified. To upgrade the leads into drilling targets, an additional 82 km of new seismic is planned. The final line locations are subject to environmental and SSCC approval. Global is moving into the next phase and engaging with stakeholders for the approvals.

Figure 2 – Proposed Macintyre 2D Programme overlaid on Top Thorntonia Time structure contour map

Following interpretation of the reprocessed seismic data, the Company has identified the terrace area southwest of the MacIntyre wells (MacIntyre-1, -2, and -2H) as being the most prospective. This area contains a number of structural closures up dip from the reservoir intersections of the MacIntyre wells. These structures require new 2D seismic to confirm closure, de-risk the leads and firm up drilling locations.

The primary reservoir target are the stromatolites in the Hagen Member (A). These exhibit good porosity and permeability and have good oil shows in nearby wells, Phillips- 2, MacIntyre-1 &-2 and Randall-1. A secondary target has been identified in the Thorntonia Limestone(B). his reservoir relies on proximity to faulting that likely enhances secondary fracture porosity. In addition, sabkha deposits forming reservoir seals have been intersected within the Hagen Member in offset wells. These are characterised by the presence of abundant anhydrite, with provides excellent inter- formational and top seal for the two reservoir units.


Click here for the full ASX Release

This article includes content from Global Oil and Gas Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

GLV:AU
Global Oil & Gas

Global Oil & Gas Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Global Oil & Gas

Global Oil & Gas


Keep reading...Show less
Oil barrel and stock chart overlayed on map.

Is Now a Good Time to Invest in Oil Stocks?

Investing in oil stocks can be a lucrative endeavor, but determining the right time to enter a sector known for volatile swings can be tricky.

Over the past five years, the oil market’s inherent volatility has been on clear display. Major declines in consumption brought on by the COVID-19 lockdowns was followed by oil prices surging to US$120 per barrel in mid-2022, as the world economy began to recover and Russia’s invasion of Ukraine led to the consequent sanctions on Russian oil.

However, in the first half of 2023, fears of a global recession gave rise to bearish sentiment over much of the oil sector and pushed prices as low as US$67 during the period. Despite a spike above the US$91 level in Q3, oil prices trended downward in Q4 to dip below the US$70 mark even with conflict escalating in the Middle East.

Keep reading...Show less
BPH Energy (ASX:BPH)

BPH Energy


Keep reading...Show less
Elixir Energy

Impressive Initial Flow Test Results

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to provide an operations update on its 100% owned Grandis project located in Queensland, adjacent to the Wallumbilla gas hub.

Keep reading...Show less
Helium Evolution (TSXV:HEVI)

Helium Evolution


Keep reading...Show less
Elixir Energy

Elixir Energy Limited (ASX: EXR) – Trading Halt

Description

The securities of Elixir Energy Limited (‘EXR’) will be placed in trading halt at the request of EXR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 8 April 2024 or when the announcement is released to the market.

Keep reading...Show less
Global Oil & Gas

Global Oil & Gas Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×