Under a farmin agreement with Strike Energy Limited (Strike), Talon is to acquire a 45% non-operated participating interest in EP447, which holds the Walyering gas appraisal prospect. Walyering holds a gross 86Bcf (gas) and 2.18mmbo (liquids) best estimate in place prospective resource (38.7Bcf and 0.98mmbo net to Talon).
Newly acquired and interpreted 3D seismic over EP447 has allowed Strike to apply its Perth Basin technical expertise to Walyering and reconcile past technical challenges with the prospect. Walyering is based on an analogous dataset and interpretation to West Erregulla-2 where similar amplitude blooms have proven to be excellent indicators of gas charged permeable reservoirs.
Additionally, Walyering’s proximity to infrastructure, low CO2 and high liquids component (~25bbls/mmscf), will assist with the reduction in development and production costs and commercial viability of the project in the event of success. Any development and production of gas at Walyering has the potential to be ideally timed to coincide with forecast contraction in gas supply in Western Australia in the next 3 to 4 years.