Top End Energy (ASX:TEE) tees up on NT gas play fairway

Top End Energy (ASX:TEE) tees up on NT gas play fairway

July 15, 2024 Off By Jack Baker

Top End Energy is seeing a significant asset emerge after it identified a gas play fairway ranging up to 3500 square kilometres during initial work at its wholly owned licensed ground in the Northern Territory’s South Nicholson Basin.

Early evaluation of offset drilling and seismic interpretation discovered the fairway in the newly acquired licence, with its location near the Northern Gas Pipeline offering access to Mt Isa in Queensland and other east coast markets.

Work on the National Drilling Initiative Carrara-1 deep stratigraphic well 3.5 kilometres east of the licence showed multiple source-rock intervals samples of up to 5.5 per cent total organic carbon.

The well also pointed towards a localised presence of both helium and hydrogen, with acquired concentration samples showing up to 27% hydrogen.

It identified high potential for two significant core play conventional and unconventional fairways, a 600km2 Carrara Sub-basin Extension with running room up to 1200km2, and the 1100km2 Alexandria Sub-basin with space up to 2300km2.

Top End Energy Managing Director Oliver Oxenbridge said initial work on the licensed ground had delivered exciting outcomes.

“Our interpretation of the GA seismic lines indicates high probability of key source-rock formations extending well into our acreage,” he said.

“When overlaid with the results from the Carrara-1 stratigraphic well, the potential for a highly prospective unconventional gas play fairway on EP 144 is readily evident.

“This is complemented further by helium and hydrogen potential also indicated across the basin.”

Oxenbridge added the company now planned to refine its near-term work program over the licence, and expected to include more geophysical analysis and soil gas sampling in its datasets, and undertake targeted stratigraphic drilling.

The low-cost work is aimed at proving the presence of source rocks on the licence and to grab samples for helium and hydrogen sure-ups.

While the Perth-based company has approvals in place for drilling stratigraphic wells, it is likely to relocate the approved locations in the light of new data.

And Top End has a new man to explore it, with Trevor Brooks coming in as its new Exploration Manager, with significant experience on his resume covering the full spectrum of energy exploration and production.

National momentum

The Australian Government’s National Drilling Initiative came about to derisk fresh terrain for explorers.

The Top End was firmly in its sights, with the first collaborative campaign between MinEx CRC, Geoscience Australia and the Northern Territory Geological Survey focused on the East Tennant and South Nicholson areas of the NT.

The federal government has laid bare its plans for natural gas to support the renewable energy transition and the eras beyond, as it warns of immediate risks to east-coast gas supplies and puts further momentum behind new discovery efforts.

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