The upcoming fracture stimulation test in the Perth Basin is expected to offer valuable insight into the shale gas potential of the Basin and add significantly to the market capitalisation of Norwest Energy.
Norwest Energy (ASX: NWE) is currently poised to carry out key fracture stimulation operations on its Arrowsmith-2 exploration well; positive results here will be a key driver to unlocking the shale gas potential of the Perth Basin, Western Australia.
Should this current program prove up the ability of the thick shale intervals in the Basin to produce gas (and possibly liquids in the higher zones), the likely result will be an expanded work program for the Company, aimed at both full appraisal of the discovery and implementation of an extended development plan for future activities.
The Company has not neglected the conventional oil and gas potential of its Perth Basin assets either, with ongoing work continuing throughout the Basin across its other assets, in order to further assess the leads and prospects in one of Australia’s petroleum provinces.
Should this current program prove up the ability of the thick shale intervals in the Basin to produce gas (and possibly liquids in the higher zones), the likely result will be an expanded work program for the Company, aimed at both full appraisal of the discovery and implementation of an extended development plan for future activities.
The Company has not neglected the conventional oil and gas potential of its Perth Basin assets either, with ongoing work continuing throughout the Basin across its other assets, in order to further assess the leads and prospects in one of Australia’s petroleum provinces.
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