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“There’s extensive data here from 13 vertical wells, six of which have been successfully fracked, plus over 770 km of vintage 2D seismic and extensive drill cuttings and cores. Independent consultants reckon there could be 3TCF of recoverable gas in the Bundoran Shale, with additional upside in additional shale formations.”
”Shale Gas, Tamboran Australia , Northern Ireland
28 May 2014 by Our Oilbarrel Staff
Shale gas explorer Tamboran is taking measures to move steadily up through
the value chain as it eyes launching a massive IPO in its native Australia
hopefully early in 2015.In the past two and a half years the company has
assembled a portfolio covering a total of 24 million acres which contain,
according to Tamboran’s own internal estimates, resource potential of 50 to
The acreage includes concessions in three basins in Australia,
Beetaloo/McArthur, Ngalia and Pedrika and one in the Lough Allen Basin
which straddles the border between Ireland and Northern Ireland.
In Ireland and Northern Ireland, the company holds 400,000 acres on either side of the border in the Lough AllenBasin (200,000 acres in the north). The company reckons it has a drillready exploration project in the PL2/10 Exploration Licence that could be an analogue to the prolific Fayetteville Shale in Arkansas.
There’s extensive data here from 13 vertical wells, six of which have been successfully fracked, plus over 770 km of vintage 2D seismic and extensive drill cuttings and cores. Independent consultants reckon there could be 3TCF of recoverable gas in the Bundoran Shale, with additional upside in additional shale formations.
The Belcoo #1 well should be spudded in Q2 2014. It is a 725m basinedge well to gather rock properties of the Carboniferous shale in the Bundoran. The expected cost of the well is around US$3 million (net) and will be funded from the company’s balance sheet. In the success case Tamboran estimates the potential value uplift of around
US$150 US$250 million or around US$24/share of the 66.7 million shares on issue at the time of writing.”
- The 6 wells that are mentioned were secretly fracked 12 to 14 years ago in isolated forestry locations using workers from England and America. Very few locals know about them.
- The company proposes 60 wells of 6 acres each 1-2 kilometres apart in an area that has been declared a Geopark because of its unusual beauty and geological and archaeological importance.