ATP2021 is located in Queensland adjoining the Queensland- South Australia border, Metgasco holds a 25% working interest in the permit.
ATP2021 contains the Vali gas field, discovered by Vali ST1 in January 2020 and successfully appraised by Vali-2 and Vali-3 in the June and September quarters of CY2021. The field has three cased wells available for future gas production.
The 2P reserve of the Vali field is 101.0 PJ (25.2PJ net to MEL) independently certified and booked the following tables detail the combined revised reserves estimates.
| Gross ATP 2021 Vali Gas Field Reserves | |||
| 1P | 2P | 3P | |
| Sales Gas (Bscf) | 43.3 | 92.0 | 191.2 |
| Sales Gas (PJ) | 47.5 | 101.0 | 209.8 |
| Net Entitlement ATP 2021 Vali Gas Field Reserves | |||
| 1P | 2P | 3P | |
| Sales Gas (Bscf) | 10.8 | 23.0 | 47.8 |
| Sales Gas (PJ) | 11.9 | 25.2 | 52.4 |
The ATP 2021 Joint Venture parties have signed a gas sales agreement (“GSA”) with AGL Wholesale Gas Limited (“AGL”) for the sale of between 9 petajoules (PJ) and 16 PJ of gas produced from the Vali Gas Field over approximately 4.5 years from field start up to end calendar 2026. The supply of gas under the GSA will constitute approximately 9% to 16% of the Vali field’s 2P reserves. Development works have commenced in order to deliver pipeline and connection facilities needed to supply gas under the GSA.
ATP 2021 has significant further oil and gas prospectivity, seismic acquisition and interpretation are required to identify optimal locations, the ATP 2021 Joint Venture parties have commenced planning of these activities.