Magellan Petroleum
Magellan Intranet
Cooper-Eromanga Basins Focus Area
The Company has interests in seven production leases and six exploration licences in the Cooper-Eromanga Basins, Australia’s most prolific onshore hydrocarbon province.
The Company holds a 40.936% interest in the Nockatunga production and exploration leases (ATP 267P, PL 33, PL 50, PL 51, PLA 244 and PLA 245) in the Cooper-Eromanga Basins, which are operated by Santos Ltd. The leases cover the Currambar, Dilkera, Kamel, Kihee, Kora, Maxwell, Muthero, Nockatunga, Thungo and Winna oil fields. Oil production commenced in 1985. During calendar 2007 oil production was approximately 0.295 MMSTB. The fields produced oil at the rate of approximately 820 BOPD. Magellan’s share of proved and probable remaining recoverable reserves at 31 December 2007 was 0.7 MMSTB of oil.
Beach Petroleum operates the Aldinga and Kiana oil fields in the Cooper-Eromanga Basins which in calendar 2007 produced 0.027 MMSTB of oil. Magellan holds a 50% (Aldinga) and 30% (Kiana) interest in the fields and its share of remaining proved and probable recoverable oil reserves at 31 December 2007 was 0.133 MMSTB of oil. During calendar 2007 the fields produced oil at the rate of approximately 85 BOPD.
Exploration interests are held in four Beach-operated permits PEL 94 (35%), PEL 95 (50%), PEL 107 (20%) and PEL 110 (37.5%) whilst Magellan operates ATPA 732P where the company holds a 65% interest.
Key
- MMcf
- Million cubic feet
- Bcf
- Billion cubic feet
- PJ
- Peta (1015)Joules
- BOPD
- Barrels of oil per day
- MMSTB
- Million stock tank barrels
- TJ
- Tera (1012) Joule