Authority to Prospect ATP 865 - Operator

Description:

ATP 865 lies in Central Queensland Australia and covers an area of approximately 1.67 million acres. Sentry Petroleum Ltd. holds a 93% interest and is Operator. Over two thousand line miles of seismic have been shot over the permit area. Sentry has identified five promising leads within the application area and a large drill ready prospect, the Sherwood Park prospect. A gas pipeline runs north to the Gilmore Gas Field between the Gumbardo-1 and Emu Creek-1 wells in the western side of the ATP 865.

Potential:

ATP 865 is independently assessed to have potential for the discovery of economic volumes of oil or gas. All four key geological elements are present for the generation of hydrocarbons. Hydrocarbons have been recovered and separate gas shows were encountered within the permit. The Sherwood Park prospect exhibits a gross areal extent of 17 square kilometres at its lowest closure and has a vertical closure of 130 meters. The primary reservoir is approximately 2,000 meters deep and the Buckabie formation demonstrates porosities averaging 17 percent.

For detailed information on ATP 862, click here

A Comparision of the Sherwood Park Prospect to Adjacent Discoveries

The Gilmore Gas Field

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The Kenmore Oil Field

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The Gilmore Gas Field (two million barrels of oil equivalent) is located immediately north of the Sherwood Park prospect and possesses the same lithology as Sherwood Park. The primary target in Sherwood Park is an erosional remnant of Buckabie Formation sealed by continental strata of Permian age. The linear feature trends to the north, has 100 metres of vertical relief and covers 17 square kilometres at its closing contour. Major thrust faults to the west may have provided the conduits for upward migration of hydrocarbons. The Lissoy Sandstone appears to be thinning to the west at Sherwood Park, which may set up a possible stratigraphic trap.

The (15 million barrel) Kenmore Oil Field is a field immediately west of the Sherwood Park prospect. Like Gilmore, the primary reservoir is the Lissoy Sandstone and the hydrocarbons are thought to have originated from the Log Creek Formation and the Cooladdi Dolomite in the surrounding troughs. This comparison demonstrates several positive aspects about the prospectivity of the Sherwood Park prospect. First, the distribution of similar source and reservoir rocks is widespread. Second, hydrocarbons have been generated at depth, expelled and trapped in areas to the west and north of the prospect. Third, commercial petroleum accumulations have been discovered within close proximity to Sherwood Park.