- 01Best-ever Canyon result: 589m gross, 197m net pay.
- 02Target porosity rose to 12.1%, from 7.4%.
- 03Findings support stacked Permian potential.
Omega Oil and Gas (ASX: OMA) has delivered its best result to date from the Canyon-4 well on the eastern flank of Queensland’s Taroom Trough, intersecting a 589 metre gross oil and gas-bearing sequence with 197m of aggregate net pay (true vertical thickness).
The well was drilled approximately eight kilometres south and 100m structurally up-dip from the previous Canyon-3 well to test reservoir continuity, quality and hydrocarbon distribution across the company’s wholly owned Canyon acreage.
It intersected the Lower Kianga Formation, confirming a high-quality and regionally extensive reservoir interval, and the Tinowon Sandstone, equivalent to the gas condensate-bearing interval on the western flank of the Taroom Trough.
The average porosity in the primary Canyon Sandstone target also increased from 7.4% at Canyon-1 to 12.1% at Canyon-4, with formation evaluation data supporting a multi-level, over-pressured Permian oil and gas-bearing reservoir system across the eastern flank.
Existing drilling and regional well control indicate Canyon Sandstone stretches over 40km north-to-south from Canyon-2 to the Tasmania-1 tenement within ATP 2081, with regional evidence extending a further 40km northwest to the deep historical Fantome-1 exploration well drilled in 2012 by BG Group.
Core and Wireline Log Analysis
Canyon-4 is the fourth well within a focus area of approximately 400 square kilometres within PCA342 and PCA343, returning better results than Canyon-3 (526m sequence and 170m net pay) and Canyon-1 (433m and 132m).
It is the first modern well to penetrate the full Permian sequence to a total depth of 4,017m measured depth in basement, recovering 111.2m of core (94.6% recovery) across three key reservoirs.
Mud-gas ratios were recorded during drilling to indicate the presence of oil, while a strong petroliferous odour and oil fluorescence was observed in core plugs taken onsite and associated gas was observed bubbling from the core at surface.
Analysis of cores and wireline logs acquired through the vertical appraisal program is expected to provide detailed geological information on reservoir properties and depositional environments including how reservoir thickness, quality, and hydrocarbon distribution vary across the eastern flank.
The data will improve Omega’s ability to predict reservoir characteristics away from existing wells and identify areas offering the most favourable combination to support resource estimation.
Vertical Appraisal Program
Omega managing director Trevor Brown said Canyon-4 would assist in identifying optimal locations for future horizontal appraisal and development wells.
“We are very excited by the outstanding results of Canyon-4, which has delivered the thickest sequence, most net pay, and highest reservoir quality of any Canyon well to date, further demonstrating the quality, scale, and continuous nature of the stacked Permian oil and gas play across the Taroom Trough’s eastern flank,” he said.
“Encouragingly, we are encountering improved reservoir characteristics with each well drilled in our vertical appraisal program, which is designed to systematically test how reservoir quality and hydrocarbon distribution vary across our extensive acreage."
“Each successful appraisal well gives us greater confidence in our geological model and improves our ability to predict the nature and distribution of these reservoirs as we take the program north into ATP 2081 and evaluate the play’s potential continuation to the south.”
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