QUARTERLY ACTIVITIES REPORT
FOR THE PERIOD ENDED 30 JUNE 2021
Key activities for the quarter ended 30 June 2021 (“Quarter”) comprised:
- Vali-2 well results delivered 150 m of net pay, primarily in the Toolachee and Patchawarra;
- A gas sample was recovered from the Toolachee, indicating potential conventional gas production;
- The Odin-1 well results delivered results confirmed 172.5m of net gas pay in the Toolachee, Patchawarra and Epsilon formations, exceeding pre-drill expectations;
- Gas samples were recovered from the Toolachee/Epsilon formations of Odin-1, indicating potential conventional gas production potential;
- Vali-3 well results confirmed gas pay in the Patchawarra, in line with pre-drill expectations;
- The 2021 drilling campaign was delivered to industry best practice, safely, and a timely manner.
- Progressed environmental and safety drilling approval applications with state government authorities, with final approvals anticipated in late Q3 /early Q4 CY2021;
- Rig contracting negotiations continued with other Perth Basin Operators and rig operators;
- Drilling now anticipated in late Q4 CY2021/Q1 CY2022, subject to approvals, and rig availability.
- ATP2020 Farm-out process continued during the quarter with a number of qualified parties in the data room; • 100% owned prospective resources for Loki are estimated at recoverable oil and gas resources Best (P50) 6.4mmbo and 13.1bcf respectively.
Please click on the attached .PDF to view full report and the Quarterly Cashflow Report, Appendix 5B.
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