Nexus on exploration trail in Australia’s Gippsland basin

Offshore staff

MELBOURNE, AustraliaNexus Energy (ASX:NXS) says well designs are progressing for the Gemfish and Longtom-5 exploration prospects in the VIC/L29 production license offshore Victoria, Australia.

Rig availability is currently being assessed for Longtom-5 for the end of 2013, subject to a final investment decision.

On Nexus’ adjoining VIC/P54 permit (also in the Gippsland basin), the identified prospects Hussar and Longtom West are structurally complex. Current 3D seismic data does not effectively image the subsurface at the key target horizons, and this is hampering definition of the Golden Beach target at Hussar, and fault mapping at Longtom West.

Therefore, Nexus plans a seismic reprocessing project of roughly 425 sq km (164 sq mi), starting this month. The program will take in the Gemfish prospect and the Grayling-1A gas discovery well in VIC/L29.

11/01/2012

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