Vintage Energy has revised the Nangwarry field in the onshore Otway Basin following the successful production test of the Nangwarry-1 well.
The company advised that since the drilling and testing of the well, the Department of Energy and Mining approved an application for a retentions licence over the Nangwarry CO2 discovery, prior to expiry of PEL155 on May 5, 2021.
As a result, the joint venture retains a significant amount of land around the Nangwarry field while is pursue options for commercial development.
ERC Equipoise has conducted the revision of the Nangwarry field and has revealed that the best gross on-block recoverable CO2 sales gas at the Pretty Hill Sandstone is 25.9 Bcf and the best net on-block recoverable CO2 sales gas is 12.9 Bcf.
ERCE has also estimated that the gross gas contingent resources for the Pretty Hill Sandstone has a 2C of 1.6 Bcf and a net gas contingent resources of 0.8 Bcf.
The Nangwarry-1 well was perforated across the Top Pretty Hill formation and produced raw gas at a higher than anticipated raw gas flow rates of 10.5-10.8 million standard cubic feet per day, measured through a 46/64-inch choke at a flowing wellhead pressure of 1415 psi over a 36-hour period.
Vintage reported that the well is very productive, with a raw gas flow rate of only 3 MMscfd required to supply a purification plant capacity of 150 tonnes per day.
In addition, Vintage has been appointed by the joint venture as the marketing agent to commercialise the Nangwarry field.