Cooper Energy is offering the opportunity to participate in the next phase of Gippsland Basin gas exploration and development offshore Southeast Australia.

Highlights include: 

• The VIC/P80 exploration permit and VIC/RL13, 14 & 15 (BMG blocks) retention leases contain significant discovered resources and high-quality prospectivity in proven play trends in the prolific Gippsland Basin
• Four large prospects (> 1.3 TCF) have been identified in 100 to 155m WD, and contingent resources (166 BCF and liquids) defined on high quality 3D data
• Optional rig slots for drilling are in 2026/2027 using a S/S
• Clear commercialisation pathway via existing infrastructure, with tight Eastern Australia gas market

Executive Summary

The VIC/P80 exploration permit and VIC/RL13, 14 & 15 (BMG blocks) retention leases contain significant discovered resources and high-quality prospectivity in proven play trends.

COE currently has a 100% in all permits, all in good standing, and offers a material equity in near field exploration and development opportunites.

Four large prospects have been identified in 100 to 155m water depth, and contingent resources defined on high quality 3D data.

185 petajoule (166 BCF) plus 4.9 million barrels of liquids of 2C discovered resource, at Manta and Gummy and >1.3 TCF of prospective resource in the top four exploration opportunities. High quality 3D seismic data increases confidence in the prospect geometries.

Optional rig slots for drilling are in 2026/2027 using a semi-submersible. The Transocean Equinox will be in the region from 2025.

Clear commercialisation pathway via existing infrastructure, with tight Eastern Australia gas market. The licences are located in a strategic location. and the COE-owned Orbost Gas Plant has ullage available from 2030.

Petroleum Geology

The Gippsland is considered a Global Superbasin. Since the first offshore discovery in 1964, the basin has produced more than 5 billion barrels of liquids and 11 TCF of natural gas. The Cretaceous to Neogene sediments are greater than 10km thick in the central basin which is located in shallow water offshore.

Most of the hydrocarbon production has been from Late Cretaceous to Paleogene sandstone reservoirs. Rich source rocks are found in the Upper Cretaceous and Early Tertiary sections. Regional and intraformational seals are present with numerous trap types proven.

Prospectivity and Play Types

The petroleum geology and play types are well understood in the Gippsland Basin. In VIC/P80 and the BMG blocks the exploration focus are the Late Cretaceous Golden Beach and Emperor Sub Groups.

Wobbegong, Manta Deep, Gummy Deep and Chimaera East are prominent downthrown fault closures.

The Wobbegong prospect is adjacent to the large Kipper Field with the same anticipated reservoir and fault seal mechanism.

The Gummy Deep and Manta Deep targets chase deeper reservoir-seal pairs below the proven gas accumulations.

Name change

Earlier this month, Cooper Energy announced its intention to change its name to Amplitude Energy Limited. 

KeyFacts Energy: Cooper Energy Australia country profile   l   KeyFacts Energy Industry Directory: Moyes & Co