Looks like we start again July 21.

  1. 3.1k
    Posts

    " ........ Victorian Onshore Exploration Ban
    • The Victorian Government’s ban on all onshore petroleum exploration will expire on 30 June 2021,
    following which conventional exploration activity will be allowed to proceed.
    • The Company intends to be prepared to resume exploration activity within its highly prospective
    Gippsland and Otway acreage as soon as it is allowed to do so.
    • In accordance with new arrangements being implemented by the Victorian Government for resumption
    of onshore exploration the Company has submitted new work programs for all of its Victorian
    tenements. ...... "

    1 like
  2. 78.6k
    Posts

    i wouldn't get too excited until you see Dictator Dan's new rules and regulations ( and probable fee rises )

  3. 3.1k
    Posts

    Yes, there's no reason the Vic Govt won't delay Lakes as long as they want.
    The whole saga since 2012's moratorium and onshore o&g ban, has just about destroyed Lakes (and its 11000 share holders investment).
    but have to live in hope, this time, the Vic Govt will play fair.

    1 like
  4. 3.1k
    Posts

    Australia: Vintage Energy announces highly successful flow from Nangwarry-1

    26 Mar 2021
    Strong CO2 gas flow from lower section of Top Pretty Hill Formation
    Approx. 12-14 MMscfd through a 68/64” choke at 900 psi
    Further flows expected from upper section in coming days
    Three exploration wells drilled since listing with three discoveries
    Photo - see caption
    Vintage Energy has provided an update on production testing activities for Nangwarry-1 in the onshore Otway Basin.

    Neil Gibbins, Vintage Managing Director, said:

    'We are extremely pleased that the first perforation zone in the Top Pretty Hill Formation has delivered an excellent result, with a very strong flow of CO2 gas observed. The most pleasing part of this result is that gas flow came from the lower section of the interpreted gas column, with log data indicating this section would likely flow at a lower rate than the upper section.

    The strong gas flows delivered to date are estimated at 12-14 MMscfd through two 48/64” chokes (equivalent to a 68/64” choke) at 900 psi wellhead pressure, which has already easily exceeded our expectations. The perforations were done over a five-metre interval approx. 110 metres below the next planned perforation interval which will test the top of the interpreted gas column.

    In the coming days we will move to the uppermost part of the Top Pretty Hill Formation and, once perforated, will commence an extended production test to further quantify the flow rate from the interpreted gas column and analyse the pressure data for indications of connected volumes.

    Vintage Energy can now claim a 100% success rate from drilling three exploration wells. We have made successive significant discoveries in the Albany-1 well in the Galilee Basin, the Vali-1 ST1 well in the Cooper Basin and now the Nangwarry-1well in the onshore Otway Basin, which have all resulted in gas flow to surface.'

    Otway Basin – PEL 155 (Vintage 50%, Otway Energy 50% and operator)

    Nangwarry-1 has produced strongly during all flow periods since perforating a five-metre zone at the base of the Top Pretty Hill gas column on Monday. The Operator advised that due to very high flow rates and corresponding gas expansion, a temperature drop resulted in ice formation at the separator, which has prevented the ability to maintain a prolonged stabilised flowrate. However, orifice plate readings have indicated flow rates in the 12-14 MMscfd range through two 48/64” chokes (equivalent to a 68/64” choke) with flowing wellhead pressures holding relatively stable around 900 psi. This confirms a gas column in the higher range of expectations, with the top upper-most sand of the Top Pretty Hill CO2 column to be perforated next to acquire further flow information and volumetric estimations.

    Photo - see caption
    This is an excellent result as this section was identified via log data as a potential transition zone, with the expectation it could flow gas at a lower rate than the upper section and possibly flow with water.

    The production test of Nangwarry-1 commenced on19 March, with the Mid-Pretty Hill zone tested initially. The perforation of this zone revealed that it was, as expected, of poor reservoir quality and likely water wet.

    Little pressure response was observed once perforations were completed. This section was isolated, with testing focused on the main target zone, the Top Pretty Hill Formation. The perforation of the upper section of the Top Pretty Hill Formation is expected to take place over the coming days, with extended flow testing of the Top Pretty Hill to take place over the coming weeks. Once the extended production test is completed, a stabilised flow rate and volumetric estimate of the recoverable CO2 will be obtained. Gross recoverable estimates for Nangwarry-1 CO2 are: Low of 7.8 Bcf (3.9 Bcf net), Best of 25.1 Bcf (12.6 Bcf net), High of 82.1 Bcf (41.1 Bcf net) (refer ASX release dated 31 August 2020).

    The production test is a key milestone on the path to first production of food grade CO2. The production test will confirm volumes of saleable CO2 and allow the Joint Venture to consider appropriate debt funding options for the infrastructure required to produce food grade CO2. The co-produced methane (approx. 10%) will be used to power the production plant, with Supagas already commissioning preliminary design work for a skid mounted CO2 plant, in line with the MOU signed in 2020.

    A stable source of CO2 is currently in high demand. After producing CO2 for 50 years the Caroline-1 well ceased production in 2017. Caroline-1 is located within 100 kms of Nangwarry-1 and remains South Australia’s most profitable well to date (refer to DMITRE, Otway Basin South Australian acreage release dated August 2012).

    Uses for food grade CO2 include refrigeration/dry ice (needed for storage of some vaccines), carbonation for soft drinks and beer, firefighting, medical devices and winemaking.

    Original article link

    Source: Vintage Energy

    1 like
  5. 3.1k
    Posts

    The time has come for Lakes to hopefully get stuck into producing gas from today, but no announcement yet apart from Energy News report today.
    Why the f do they mention Gina Rino, when it seems she is of not much support for Lakes ?

    Victoria exploration ban ends today
    THE longstanding moratorium on onshore conventional exploration in Victoria lifts today more than a year after state parliament voted to end a ban that saw a multi billion dollar lawsuit from a gas company backed by Gina Rinehart.
    Victoria exploration ban ends today
    Vic Parliament to end exploration ban

    Helen Clark
    Editor

    Fraccing and other unconventional development like CSG remain banned.

    Two bills were introduced to the state's lower house in March last year.

    One to formally end the moratorium, albeit a year after it was due to come off, and the other to ban fraccing permanently.

    It was a surprising move from a premier who expanded onshore exploration bans and has pushed hard on a renewable agenda but Dan Andrews said then he was following the science and looking to an "orderly restart" of exploration after three years of investigation by the Victorian Gas Program.

    The results concluded conventional exploration will not "compromise the state's environmental and agricultural credentials".

    The study found the state could enjoy a $310 million windfall "for regional economies" and create 6400 jobs.

    The government said gas "will continue to play an important role in supporting Victoria's transition to a cleaner energy future".

    Forecasts suggest a steep decline from offshore Bass Strait assets despite the Gippsland Basin Joint Venture's West Barracouta recently starting up.

    Analysts are in consensus that while helpful, Victoria's conventional onshore resources are likely not large enough, or able to be developed in time, to meet projected shortfalls, which could arrive in as little as two to three years.

    EnergyQuest CEO Dr Graeme Bethune wrote in a report two years ago that five Victorian councils were petitioning the state government for a lift of the moratorium, with those in the west looking over the border to South Australia's share of the onshore Otway Basin and its recent prospectivity.

    Corangamite, close to the South Australian border, sees value in the area since Beach Energy's good work proving up the Penola Trough in SA a couple of years previously.

    Lakes Oil famously took the state government to court under its previous management, losing a multibillion-dollar case, but still planning a restart when time allows. The Wombat project is development ready, it has said, though it is currently busy working on the 90% CO2 well it shares with Vintage Energy, also in South Australia.

    Lakes is backed by Hancock Prospecting subsidiary Dark Horse Resources.

    "Victoria has abundant local onshore resources but for years has rather imported gas from other states. Incredibly, it has even considered importing it from overseas with the planned import terminal," APPEA Victoria director Ashley Wells said on Thursday.

    "Now that the ban is lifted, the industry can resume the exploration and development of local gas resources - and it is a given that we must at all times meet the highest environmental and operating standards at all times."

    1 like
  6. 3.1k
    Posts
  7. 3.1k
    Posts

    https://earthresources.vic.gov.au/projects/onshore-conventional-gas-restart

    Restart of onshore conventional gas industry in Victoria
    New regulations

    "Victorian Gas Program
    The 2017 extension of the moratorium provided the time to undertake the Victorian Gas Program – a three-year research program to scientifically understand the potential for new onshore conventional gas discoveries and the risks, benefits and impacts of allowing the industry to continue.

    The program’s geoscientific investigations concluded in early 2020. The results indicated that there are likely to be commercially feasible onshore conventional gas resources yet to be discovered in the Otway and Gippsland basins. Regional environmental studies undertaken by the program showed that developing these gas resources would not compromise the state’s groundwater supplies or agricultural sector.

    Victoria’s onshore Petroleum Regulatory Framework was also reviewed by the Victorian Gas Program and found to be robust for managing environmental and safety risks; however, the framework could be improved in its provisions for community engagement and industry transparency.

    Understand more about the Victorian Gas Program and watch an animation showing the variety of work delivered."

    I remember clearly , Dan Andrews and his Chief Scientist talking on 3AW/2AY, saying, ..... "there is no onshore oil and gas in Victoria"

    liar, liar, .....

    1 like
  8. 78.6k
    Posts

    plenty of methane inside of Dan Andrews , you don't need an aerial survey to spot that

    1 like
Your browser is too old for TopStocks and not secure. Please update your browser