Iconic Potential

  • 5.0 billion barrels oil or 3.1 billion oil-equivalent barrels gas mean unrisked estimates of prospective resource recoverable.

  • Highly prospective with multiple indications of an associated pressured hydrocarbon accumulation at a relatively shallow depth of ~4,200 meters/13,800 feet.

  • Located onshore Western Australia.

  • In sum, highly prospective multi-billion recoverable resource at relative shallow depth onshore a developed country offers truly iconic potential.

Raphael Energy Group Limited is a United Kingdom private limited company registered in England and Wales as company number 10192988 (“Raphael”). A wholly owned subsidiary Morillion Exploration Pty Ltd (ACN 605 871 565) holds a Western Australia special prospecting authority with acreage option STP-SPA-0089 (“SPA-89”) that covers an area of 8,171 km2 (2.02 million acres) of the north central area of the Officer Basin.   

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Officer Basin is a frontier onshore sedimentary basin that as a component of the giant Centralian Super-basin during much of the Neoproterozoic Era, shares a geological association with Oman and Eastern Siberia with reported proven and potential resources of 11 BnOEB and 37 BnOEB respectively. Exploration of the Officer Basin was earlier limited by issues of Aboriginal land rights which cover much of the Officer Basin that have now been resolved.

With an estimate of up to 10,000 meters (33,000 feet) of sedimentary sequence, although uplift and erosion has removed some of the sediments, loose grid 2D seismic drilling campaigns have confirmed the Officer Basin hosts massive reservoirs with excellent geophysical properties. For example, the Hussar formation in the Shell Yolwaga-3 well to the west of SPA-89 is a sterling example with:

  • Gross reservoir - 890 meters (2,943 feet)

  • Net reservoir - 228 meters (764 feet) with sections as thick as 125 meters (410 feet)

  • Average porosity - 15.6%

With massive reservoirs with excellent geophysical properties, Officer Basin offers multi-billion barrels of recoverable resource. For example, the Best (P50) estimate of a Ryder Scott 2009 independent evaluation of the hydrocarbon resource potential of five formations of a license covering the southern part of SPA-89 was 32.3 BnBO (Low (P90) 17.0 BnBO, High (P10) 55.5 BnBO). Ryder Scott clients include majors BP and Chevron as well as Bank of America and Citibank.

As part of the initial phase of the Raphael MaxEx Direct exploration process that seeks, confirms and quantifies hydrocarbon indications by phase and depth, Raphael processed a recent dense grid 400 meter (1,300 foot) gravity and magnetic survey of SPA-89 with its proprietary 3D GravMag processing method that maps subsurface structures equivalent to 3D seismic subsurface mapping with a depth resolution on the Z-axis as low as 50 meters (160 feet). 3D GravMag processing mapped one formation in 12 structures with reservoir geometry that can host multi-billion barrels of prospective resource recoverable.

 In addition, Raphael undertook four surveys of SPA-89 seeking indirect hydrocarbon indications, the manifestation at the surface of the near vertical migration of microseepages from an active petroleum system (pressured hydrocarbon accumulation) in the subsurface below. Those surveys highlighted three adjoining 3D GravMag structures (the “SPA-89 Trio”) with 94% to 100% of as many as four stacked indirect hydrocarbon indications. 

With a presentation at the American Association of Petroleum Geologists 2017 International Conference reporting that 80% of 1,150 wells drilled with an indirect hydrocarbon indication (positive anomaly) were discoveries, the SPA-89 Trio are highly prospective. In addition, at a depth of ~4,200 meters (~13,800 feet), the SPA-89 Trio offer iconic economic potential. 

And another four 3D GravMag leads with total depths ranging from 5,500 meters (18,000 feet) to 7,700 meters (25,300 feet) with high and promising prospectivity of 68% to 100% of as many as four stacked indirect hydrocarbon indications, have another 1.2 BnBO or 0.7 BnOEB gas of mean unrisked prospective recoverable resource that with potential billion barrel scale located onshore likely offers extraordinary economic potential. See Operations and MaxEx Direct pages for more details on the SPA-89 3D GravMag leads and the Raphael MaxEx Direct exploration process that seeks, confirms and quantifies hydrocarbon indications by phase and depth.

In sum, Raphael’s SPA-89 with the highly prospective SPA-89 Trio with total mean unrisked prospective oil resource recoverable of 5.0 BnBO or 3.1 BnOEB gas recoverable resource at relatively shallow depths located onshore in a developed country complemented by another 1.2. BnBO or 0.7 BnOEB gas with high to promising prospectivity, SPA-89 offers truly iconic potential! 

Sophisticated Investors

If you are a sophisticated investor, Raphael Class A shares are listed on PrimaryMarkets. Raphael offers epic investment potential with:

  • Promising to high prospectivity

    3D GravMag structures with multiple indications of an associated pressured hydrocarbon accumulation for promising to high prospectivity.

  • Volume and value of ultra-deepwater and deepwater oil and gas plays

    Multi-billions of barrels of potential recoverable resource for the volume and value of ultra-deepwater and deepwater oil and gas plays that bear the high cost of wells and development.

  • Onshore for low cost wells and lower development costs that drive high returns

    Located onshore, SPA-89 has low cost wells and lower development costs that drive high returns.

  • Epic investment potential

    All of the above adds up to epic investment potential.

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