Waggamba
(Mosaic Oil N.L. 100%)
The Waggamba gas field is located 25 km east of Silver Springs within the production lease PL 202. PL 202 owned 100% by Mosaic, was excised out of the Dalkeith Block of ATP 471P.
This field is being developed to supply gas under contract to CS Energy for its Swanbank gas fired power station near Ipswich, Queensland. The contract was signed in June 2004, running through to March 2010 for up to 3 PJ per year.
Mosaic is confident that Waggamba could become a significant gas, condensate and oil field. Gas, condensate and crude oil are being produced from the Permian Tinowon Sandstone reservoirs. Light crude oil has also been discovered but yet to be appraised and developed in the Late Permian Bandanna Formation sandstone and Mid-Triassic Showgrounds Sandstone reservoirs.
Hydrocarbon shows have been observed while drilling and potential oil and gas pays have also been interpreted from the wireline logs in the Early Triassic Rewan Formation sandstone reservoirs, but have not been tested yet in any wells.
The field area is covered by a 70 sq. km 3D seismic data set recorded in 2004 by Mosaic. Waggamba gas is rich in condensate and LPG content. Production performance of the high angle deviated Waggamba-1H well and also reservoir simulation study undertaken by independent consultants have strongly suggested that the Waggamba Permian Tinowon Sandstone reservoirs could be commercially developed with the horizontal drilling technology.