Australia
Retention Lease R3 (formerly Exploration Permit EP364)
Black Rock is in the process of selling this asset to Oil Basins Limited. Completion is due on or before 31 July 2008. Please visit our announcements page for the latest news: Company Releases.
- Black Rock Oil & Gas Plc 15%
- Norwest Energy NL 10%
- TAP Oil Ltd 75% (Operator)
Retention Lease R3 is located offshore Western Australia.
The main asset is the Cyrano Oil Field.
The oil discovery well Cyrano-1 was drilled in 2003 and was appraised in 2004 by the Cyrano-2 well. The reservoirs identified in the Cyrano structure are the Airlie Sands and the Mardie Greensand. The operator, TAP Oil has estimated P50 reserves of 0.9 mmbo. A report commissioned by Black Rock indicates that potential extension of the closures could result in total recoverable P10 reserves of 4.0 mmbo.
