twin lions

Voyager Energy and partners drill Twin Lions structure this week. Near shore Perth Basin oil play. Already made successful discoveries onshore at Jingemia and offshore at Cliff Head. Twin Lions has the potential to be 3 times the size of the major discovery to date, Cliff Head (it lies 8km north of it on the same structural trend). If it comes in at the expected 100M barrels recoverable (300M total), it will be a major positive for all concerned, and a major source of future cash flow for VOY (potentially 5M barrels to them). There are several companies involved in the new Perth Basin oil plays and, though Voyager only hold 5% of most areas, they rightly claim to be the company with the broadest exposure to all projects in the basin. Apart from a small cash-flow gas field in JV with Santos, this is their total exploration focus. They are a small, professionally excellent group started by a team of former major oil company people who are out to do it right on their own. Their website says the rest. Next hole after Twin Lions is on the nearby Mentelle structure, then back to Cliff Head for appraisal drilling. Meanwhile production tests are in progress for onshore Jingemia - the previous success. A better quality oil spec, in progress from oil explorer to oil producer.