Senex Energy (ASX:SXY) is spearheading a 1,037 square kilometre 3D seismic survey in the prolific South Australian Cooper Basin as it embarks upon a program to boost its oil and gas resource.
3D seismic surveys have come to play an increasingly important role in oil and gas prospectivity, with average drilling success rates in the Cooper reaching to 48% from 23% in 2000.
Senex, which is a major player in the Cooper, will undertake the Dundinna 3D survey over six exploration blocks to identify prospective drilling locations within the Jurassic and Triassic formations such as the Namur, Birkhead, Hutton and Arrabury.
It will also help in identifying Permian structural and stratigraphically trapped oil and gas.
The Dundinna survey area adjoins the 792 square kilometre Cordillo 3D survey to the east and is along trend from the 316 square kilometre Lignum 3D survey to the west.
Collectively, these surveys afford Senex a significant technical advantage in mapping and interpreting the geology of the western flank.
The six exploration licences include PEL 90K, PEL 100, PEL 102, 110, 182 and PEL 514.
The survey is likely to be completed early in the December quarter 2013 followed by data processing and definition of targets by the September quarter of 2014.
The Cooper Basin has about 160 gas fields and 75 oil fields and is also includes Australia's largest onshore oil field, the Jackson oil field.
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