A natural gas exploration and development company has made a major conventional gas discovery in northern New South Wales.
Metgasco’s Kingfisher E1 well penetrated multiple gas bearing sands in November, with at least 32 m of gas-bearing sands identified. Further gas zones are likely to be present at greater depth given evidence of gas at the base of the well.
“Kingfisher is a major new gas discovery,” Metgasco managing director, David Johnson said.
“This is the first significant conventional gas discovery in over a century of exploration in the state of NSW.
“Over the next three months we will be undertaking further testing on the Kingfisher field. This will allow us to determine the full potential of the field.”
The field has a current estimated area of closure of 25 sq km. The company will review the current resource estimate for the Kingfisher field and expects that this will significantly increase.
Metgasco is exploring, appraising and developing the gas resources of the Clarence-Moreton basin in northern New South Wales. Covering an area of approximately 1.5 million acres, the basin is prospective for both coal seam gas and conventional hydrocarbon resources.
The company has established a large natural gas reserve base and is in the process of converting gas reserves into gas supplies delivered to customers.
The discovery of conventional gas resources enhances Metgasco’s existing coal seam gas assets and will accelerate the commercialisation of a number of development opportunities.