#PRM, #GLV and #CLON are less than a few days away from one of the biggest oil and gas drilling events done by listed juniors in decades.
- The prospect they are drilling sits on the North West Shelf, offshore WA, home to the biggest ever gas project developed in OZ history...
- The prospect they are drilling sits on the North West Shelf, offshore WA, home to the biggest ever gas project developed in OZ history...
- the Greater Gorgon Project owned by a joint venture between supermajors Chevron, Exxonmobil and Shell.
- To contrast, the Sasanof Prospect has a prospective Resource as follows:
•17.8 Tcf and 449 million barrels of condensate on a 3U basis (high case)
AND
- To contrast, the Sasanof Prospect has a prospective Resource as follows:
•17.8 Tcf and 449 million barrels of condensate on a 3U basis (high case)
AND
•7.2 Tcf and 176 million barrels of condensate on a 2U basis (mid case).
The prospect to be drilled sits on trend and up dip of the liquids rich Mentorc Field which is seen as analogous to the Sasanof prospect sharing similar geological fundamentals.
The prospect to be drilled sits on trend and up dip of the liquids rich Mentorc Field which is seen as analogous to the Sasanof prospect sharing similar geological fundamentals.
It’s not just the sheer size of the prospect that makes it interesting, the project's location also adds to the prospect’s attractiveness.
The NW Shelf in WA is home to ~47mtpa of liquefied natural gas processing & some of the single largest facilities ever developed in the world
The NW Shelf in WA is home to ~47mtpa of liquefied natural gas processing & some of the single largest facilities ever developed in the world
First of all, the Sasanof Prospect sits on trend and up dip from the already confirmed Mentorc discovery.
The Mentorc discovery was made in 2010 after a 3D seismic survey completed by Glencore identified the prospect as a flat spot amplitude anomaly.
The Mentorc discovery was made in 2010 after a 3D seismic survey completed by Glencore identified the prospect as a flat spot amplitude anomaly.

After drilling two wells on the field and one appraisal well, the Mentorc discovery was officially confirmed with a 2C resource of 378 Bcf and 16.4 million barrels of condensate.
The Mentorc field sits immediately downdip on the eastern edge of the Sasanof Prospect.
The Mentorc field sits immediately downdip on the eastern edge of the Sasanof Prospect.
The Sasanof Prospect was identified using the same 3D seismic surveys and it displays similar technical characteristics (flat spot amplitude anomalies) that were found before the Mentorc discovery was made.
On top of these anomalies, the Sasanof Prospect also benefits from the data gathered during the ~$2.5 billion spent on exploration of the larger Equus Project.
Interestingly, the Equus Project has a 88% success rate (15 new gas discoveries out of the 17 wells drilled), for a total discovered resource of 2 Tcf and 42 million barrels of condensate.
The most obvious difference between the Sasanof Prospect and the Mentorc discovery is the sheer acreage size of the two.
Spanning an area of ~505km2, the Sasanof Prospect is ~28x the size of the Mentorc discovery’s 18km2.
Spanning an area of ~505km2, the Sasanof Prospect is ~28x the size of the Mentorc discovery’s 18km2.
While we can’t say that will directly translate to a 28x larger resource, it does point to the potential scope of the Sasanof Prospect.
The prospective resource estimate for the Sasanof Prospect is between 17.8 Tcf and 449 million barrels of condensate on a 3U basis (high case) and 7.2 Tcf and 176 million barrels of condensate on a 2U basis (mid case).
The Sasanof Prospect has a geological chance of success of 32% for the Sasasnof Prospect.
At first glance this may seem low but the Sasanof Prospect ticks all of the boxes required for a large-scale discovery to be made, these GCOS figures are fairly common with O&G exploration.
At first glance this may seem low but the Sasanof Prospect ticks all of the boxes required for a large-scale discovery to be made, these GCOS figures are fairly common with O&G exploration.
For some context, Exxon Mobil’s GCOS and Economic chance of success (ECOS) over the period 1994-2014 (a period of time when it was a lot easier to make new large scale discoveries) ranged between ~35% and 50%.
The Sasanof Prospect currently has a “prospective resource”, meaning there is no proven oil and gas presence as yet.
The JV will be drilling the target to prove there is a working oil and gas system at the project.
The JV will be drilling the target to prove there is a working oil and gas system at the project.
There is always a risk that the drilling program fails to find anything and the well is plugged and abandoned without a discovery being made. However if successful this will be a multi-bagger with a potential find with £11billion! @AimTerminator @Share_Talk @DudleyTrader
Share Talk has been in contact with David Horgan, chairman of Clontarf Energy, and we hope to catch up with him early Monday morning (7 hours + Western Australia) to be able to update holders, fingers are crossed we get him on the platform. @ZaksTradersCafe @Share_Talk
https://twitter.com/share_talk/status/1530201957922660353
Prominence Energy (ASX:PRM) - Broker Briefing 'Global Energy Supply' Inv - love how he me mentions chasing 10 baggers!
via @YouTube
via @YouTube
Final thoughts DYOR and manage your risk appropriately as always ... but These DHI's very significantly increase the likelihood of a discovery take a look:
Here in black and white!
Come and join the TG group .. drilling happening between 2-5th June 😊
t.me/clongas
t.me/clongas
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