SOMERTON ENERGY LTD - ASX: SNE

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Somerton Energy Limited is petroleum exploration company, listed on the Australian Securities Exchange (ASX Code: SNE) and based in Adelaide, South Australia. Somerton's activites are focused in the onshore Otway and Gippsland Basins of Victoria and South Australia, where it holds interests in 6 petroleum tenements. Somerton Energy was established in 1999 and listed on the ASX in 2001 (under the name Essential Petroleum Resources Limited).

PEL 186, Otway Basin

PEL 186 covers portions of the Robe, St Clair & Penola Troughs and is prospective for a wide variety of conventional and unconventional oil and gas plays. One Well is planned for drilling in 2011-12

PEL 495, Otway Basin

PEL 495 covers a portion of the Penola Trough which Somerton considers to be primarily prospective for oil. The permit contains seven prospects and leads, each of which Somerton considers to have the potential to contain up to 4 million barrels of recoverable oil. The “Sawpit” prospect will be drilled as soon as practicable, with timing primarily dependent on rig availability.

PEP 150, Otway Basin

Awaiting finalisation of Native Title agreement.

PEP 151, Otway Basin

The northern portion of PEP 151 covers a portion of the Early Cretaceous Tantanoola Trough where three leads have been identified. 100km of new 2D seismic data is scheduled for acquisition in March/April 2011 which will be used to delineate drilling locations. Drilling is likely late 2011/ early 2012.

PEP 168, Otway Basin

PEP 168 contains the undeveloped East Wing gas discovery. A 100 km 2D seismc survey is planned for acquisition in April 2010 to prove up drilling locations in the East Wing vicinity. Subject to seismic results, exploration drilling is planned for 2011/12.

PRL 13, Otway Basin

Somerton has entered into an agreement under which it will sell its 20% interest in PRL 13 to Adelaide Energy Limited. It is expected that the transaction will be completed early in 2011.

PRL 2, GIPPSLAND BASIN

PRL 2 is a retention lease in the onshore Gippsland Basin, eastern Victoria containing the Wombat tight gas accumulation, which has been estimated by Gaffney, Cline & Associates to contain a 2C Contingent Gas Resource of 329 BCF.

Somerton is earning up to a 16.7% interest in PRL 2 by participating in a program of fracture stimulation and well testing designed to prove that gas production from the Wombat Field is ecnomically viable.

Extended testiing of Wombat-2 will commnece in mid December and followed by fracture stimulation of Wombat-4 in the first quarter of 2011.

Mine For

oil, gas

Location of operation(s)

South Australia

Australian Basins

Otway, Gippsland

Address

25 Conyngham Street
GLENSIDE, SA, Australia

Phone

+61 8 8433 1481

Email

Website

http://www.somertonenergy.com.au

Last Updated

29/04/2011