ATP-582

Update on ACOR’s 6.7 Million Acre ATP-582 in the Georgina Basin

 “Look-A-Like” Bakken Oil Shale Unconventional Play Heats Up

 

There has been a profound ground swell of interest in unconventional of exploration and development globally in recent years and much of that interest stems from developments in the US, where billions of dollars have been spent by large oil companies to acquire parts of new unconventional plays such as the Barnett Shale and Bakken Shale with technically estimated recoverable resources of approx. 50 TCF of gas and approx. 4 billion barrels of oil. 

The operators adjoining ACOR’s ATP-582 to the east and west have recently hired outside engineering studies on their acreage and have determined that unconventional reservoir resource assessment of the Arthur Creek formation have similar geological features.

The operator adjoining west to ACOR’s ATP-582 states that their 3^rd party independent study estimates approx. 27 Billion bbls oil.  This operator has just announced a $US 32 million dollar drilling program which includes drilling 3 horizontal wells and 3 vertical wells to test the Arthur Creek formation and to be stimulated using multi-fracing techniques. It is believed to be the 1st time ever to use these techniques onshore in Australia.

The operator adjoining east to ACOR’s ATP-582 states that their 3^rd party independent study estimates approx. 5 Billion bbls oil and approx. 33 TCF of gas.

ACOR was recently represented in Perth Australia at the Australian Petroleum Production & Exploration Association Ltd (APPEA) Convention, the excitement of the Arthur Creek oil shale resource possibilities was a big part of the discussions and the area is receiving international attention. 

The APPEA Oil and Gas Conference and Exhibition has established itself as THE leading event for both networking and learning for the Australian oil and gas sectors, drawing both local and international attendees. 

ACOR management is very excited to see the same horizontal drilling and multi-fracing techniques that have proven successful in the US & Canada finally about to be applied in Australia adjoining ACOR’s ATP-582.

ATP-582 is located in Queensland Australia with part of this giant oil & gas concession located in the Georgina Basin and part in the prolific Cooper/Eromanga Basin. The permit area covers approximately 6,716,000 gross acres.

ACOR owns a 50% carried working interest under approx. 6,716,000 gross acres of ATP-582.