Mosaic holds 6% of the Santos-operated WA-208-P (1,267 sq kilometres/300,000 acres), located on the North West Shelf of Western Australia.
Significantly, the main gas pipeline from the North West Shelf Project crosses this permit.
A 3D seismic survey acquired in 1999 identified a number of petroleum prospects, named Hurricane, Typhoon, Mustang, Pandora South and Little Joe. The resource potential of individual prospects ranges from 25 million barrels to 200 million barrels of recoverable oil.
Hurricane is a 45 sq km prospect, lying 15 km west of the Legendary oilfield in WA-1-P. The Hurricane-1 well drilled by the Joint Venture in 2005 encountered 76 metres of gross gas pay in excellent quality Jurassic reservoir sandstones. Evaluation of data from this well suggested the presence of an oil leg down-dip from (deeper than) the Hurricane-1 intersection of this reservoir. This inferred oil leg was then targeted by the Hurricane-2 appraisal well.
The Hurricane 2 oil appraisal well in WA-208-P was spudded on 24 June 2007, and reached a total depth of 3,253m RT on 17 July 2007. The well encountered an 18 metre gross oil column in the primary target Eliassen Formation sandstone reservoir. Interpretation of wireline log and pressure data from both the Hurricane-1 and 2 wells indicate the Hurricane prospect to contain a 28m gross oil column beneath a gas column of approximately 100m.
Whilst the Hurricane discovery may not be commercial on a stand alone basis, the results of the well provide encouragement for further exploration of WA-208P, confirming the presence of an oil play within this permit and proving the submarine fan stratigraphic trap play concept.
The Joint Venture will review options for further exploration and drilling programs later in the year.