The L14 oil and gas exploration and production license area, operated by Jade Energy’s subsidiary RCMA Australia Pty Ltd (‘RCMA Australia’), is located in the most prospective oil and gas corridor of the North Perth Basin approximately 360 km north of Perth, Western Australia. Jade Energy, through RCMA Australia holds a 93.72% interest in the L14 license which contains the Jingemia oilfield. The license area covers an area of 9,835 acres and the Jingemia oil field produces a light sweet high quality oil from a high permeability Dongara sandstone reservoir.
Key oilfield information:
- Jingemia oil production commenced in 2003 with initial rates above 4,000 bopd and 4.6 million bbls have been produced to date. The field and license area is defined by 2D and 3D seismic and has supporting up to date static and reservoir engineering models and reserve estimates. The producing Dongara Sandstone reservoir is approximately 2,450 metres deep and up to 100 metres thick.
- Surface facilities include oil and water separators and storage, oil and water piping, truck export facilities, on site power generation, water injection bores for water flood and office, mess and accommodation facilities for up to eight staff.
- Four oil wells (being upgraded with ESPs) producing circa 450 bopd.
- Four water injection wells.
- Water and oil storage to support operations and exports.
A PROFITABLE OILFIELD IN WESTERN AUSTRALIA OPEN FOR DEVELOPMENT & EXPLORATION OPPORTUNITIES
Exploration & Farm-in Opportunities
Within close proximity to Jingemia oilfield processing and export facilities, Jade Energy is inviting investors to participate in a significant exploration 2-4 well exploration program targeting opportunities in material opportunities in 4 prospects and 4 leads, each with significant potential in the Dongara, Kingea and High Cliff formations offering the highest impact lowest cost opportunity in the Perth Basin.
Exploration Prospects and Leads With Rich Potential:
- 4 Northern prospects with an estimated 9.5 million bbls of recoverable oil with a probability of success ranging between 16% and 72%
- 4 Southern leads having an estimated 328 million bbls oil in place.
- Significant upside on each of the prospects from lower formations which have shown in the adjacent concession to produce at over 90 mmscfd constrained.
Technical & Investment Merits:
- Risk management: Multiple targets for wells in the Dongara, High Cliff and/or Kingea formations allow for risk mitigation with significant potential for large gas discoveries underlying the oil reservoirs as demonstrated by the
- Productive area: Current field discoveries within 10 km range and proven production track record indicate that these sandstones can be productive. The block in the oil central location of the North Perth Basin Oil Corridor
- Low cost of development: RCMA has proven capability and the resources to manage all workover and exploration programs, and will be able to complete those at a cost that is a fraction of current Perth Basin cost benchmarks
- Proximate to existing infrastructure: Targets are within metres to 7 km of existing production infrastructure, thereby lowering development costs
- Crude buyer in place: The current offtaker of Jingemia crude has the capacity to take all incremental production
- Low cost of production: Pre-existing fully operational facilities and export infrastructure will enable a fast track to production with low incremental costs of production and development
- Quality data and analysis: Quality 3D seismic and a detailed analysis of all prospects and leads are available for review.