PRL 211 lies in the South Australian Cooper Basin, with the licence’s eastern boundary adjacent to the ATP 2021 western boundary, Metgasco holds a 25% working interest in the permit. The licence is in close proximity to the South Australian Cooper Basin’s Joint Venture’s gas production infrastructure at the Beckler, Bow and Dullingari fields.
The Odin Gas Field, discovered by the PRL 211 Joint Venture in 2021, is located in both PRL 211 and ATP 2021 on the southern flank of the Nappamerri Trough in the Cooper Basin.
The Toolachee and Epsilon Formations were successfully flow-tested at Odin-1 in the final quarter of CY 2021, with a stable rate of 6.5 million standard cubic feet per day recorded at a flowing wellhead pressure of 1,823 psi through a 28/64” fixed choke. At the end of the flow period, a multi-rate memory production log was acquired, which confirmed gas was being contributed from each of the perforated Epsilon and Toolachee formations.
Independent Certification of resources at Odin are shown in Table below.
| Gross Odin Gas Field Contingent Resources (Bcf) | |||
| 1C | 2C | 3C | |
| Total | 18.5 | 36.4 | 71.7 |
|---|---|---|---|
| Net Odin Gas Field Contingent Resources (Bcf) | |||
| 1C | 2C | 3C | |
| PRL211 | 2.20 | 4.35 | 8.55 |
| ATP2021 | 1.85 | 3.65 | 7.15 |
| Total | 4.05 | 8.00 | 15.70 |
|---|---|---|---|
Odin-1 is currently shut-in, awaiting completion, which has been scheduled to occur immediately after the forthcoming well completion campaign at Vali.
The PRL211 JV has received multiple inquiries from parties interested in securing long term gas supply from Odin. This market intelligence acquired, together with data collected from the well, is to be assessed and incorporated into a commercialisation plan for the asset.
Odin field is expected to become the 2nd field in Metgasco’s PRL211/ATP2021 gas production hub and supply gas to the Australian domestic market through tie-in to the Moomba gas gathering network.