EXPLORE AUSTRALIA

BIDS CLOSE 9 APRIL 2009

PETREL SUB-BASIN, BONAPARTE BASINNORTHERN TERRITORY / WESTERN AUSTRALIARelease areas NT08-1, NT08-2, NT08-3, W08-1, W08-2 and W08-3

FOR MORE INFORMATION CONTACT:

Mr Bob PeglerGeneral ManagerOffshore Resources BranchResources DivisionDepartment of Resources, Energy and TourismGPO Box 1564, CANBERRA ACT 2601AUSTRALIATelephone: +61 2 6213 7928Facsimile: +61 2 6213 7955E-mail: petroleum.exploration@ret.gov.auInternet: www.ret.gov.au/petexp

FOR GEOSCIENTIFIC ENQUIRIES CONTACT:

Dr Clinton FosterChief of DivisionPetroleum & Marine DivisionGeoscience AustraliaGPO Box 378, CANBERRA ACT 2601AUSTRALIATelephone: +61 2 6249 9447Facsimile: +61 2 6249 9933E-mail: Clinton.Foster@ga.gov.auInternet: www.ga.gov.au

IDEAS 8007-1

WESTERN

AUSTRALIA

NORTHERN

TERRITORY

SOUTH

AUSTRALIA

QUEENSLAND

NEW SOUTH WALES

VICTORIA

TASMANIA

Hobart

Melbourne

Sydney

Brisbane

Darwin

Perth

30°

10°

120° 140°

0 1000 km

NT08-1 to 3

W08-1 to 3W08-4 to 6

AC08-5 & 6W08-7 to 10

W08-11 to 15W08-21

& 22

W08-18 to 20W08-16 & 17

W08-23 & 24

AC08-7 & 8AC08-1 to 4

2008 Offshore Acreage Release Area

2008 Designated Frontier Area

2007 Offshore Acreage Release AreaBids close April 2008

Existing petroleum explorationor development titleGas pipelineOil pipeline

Offshore Acreage Release AreaBids closed/under consideration

2008 Release of Offshore Petroleum Exploration AreasThe 2008 Offshore Petroleum Exploration Acreage release comprises 35 Release areas, located across five basins. The Release areas range from frontier to mature status and offer opportunities for exploration companies of all sizes.

Comprehensive acreage release information packs can be obtained (free of charge) by emailing contact details to: petroleum.exploration@ret.gov.au

Release areas NT08-1, NT08-2, NT08-3, AND W08-1, W08-2 and W08-3

Palaeozoic gas province

Blacktip pipeline

stratigraphic traps

Geoscience Australia Reports/Products

geochemistry and correlation of crude oils and condensates from Western Australia and Papua New Guinea. (2005) Geoscience Australia and GeoMark Research

northwest Australia —1:3,000,000 scale. (2004) GeoCat # 61179

(2001) GeoCat # 36353

data, survey 98, 100, 116, 118, 119 and 130, (2001) — digital horizon and fault data in ASCII format. (2001) GeoCat # 35237, 35239, 35249, 35243, 35244, 35248 respectively

seismic horizons. (2001). GeoCat # 36454.

(1998). GeoCat # 24222

(1996). GeoCat # 23333

(2008). GeoCat # 65649

basins: Bonaparte Basin module. (2000) AGSO and Geotechnical Services non-exclusive study

GA Record 2002/17

- Summary report. AGSO Record 1996/40 - Gravity modelling. AGSO Record 1996/41 - Organic geochemistry of oils and source rocks

AGSO Record 1996/42 - Geohistory modelling. AGSO Record 1996/43.

information or to order these reports or products, phone 61 (0)2 6249 9966, email sales@ga.gov.au

PETREL SUB-BASIN PETROLEUM PLAY ELEMENTS

Source Early Permian Keyling Formation and Late Permian Hyland Bay Sub-group for gas.

Reservoir Petroleum-bearing reservoirs are found in numerous Carboniferous and Permian formations. The most prospective reservoirs are the Early Carboniferous Milligans Formation, Late Carboniferous–Early Permian Kuriyippi Formation, Early Permian Keyling Formation and Late Permian Cape Hay and Tern formations of the Hyland Bay Sub-group.

Seal Regional seals are provided by the Early Permian Treachery Shale Early–Late Permian Fossil Head Formation, and Early Triassic Mount Goodwin Formation. Intraformational seals include the Late Permian Cape Hay, Dombey and Pearce formations of the Hyland Bay Sub-group.

Traps Structural and stratigraphic traps. The Fitzroy Movement is responsible for creating large-scale inversion anticlines, commonly associated with salt mobilisation.

Infrastructure and Markets

Proximal to the Petrel and Tern gas fields, the Turtle and Barnett oil fields and the Blacktip gas field and pipeline.

1. Location map of Release areas NT08-1, NT08-2 and NT08-3, and Release areas W08-1, W08-2 and W08-3 in the Petrel Sub-basin showing their proximity to hydrocarbon accumulations.

2. Regional setting of the Petrel Sub-basin.

3. Stratigraphy of the Petrel Sub-basin (after Jones et al, 1996; Gorter, 1998).

4. Regional cross-section of the Petrel Sub-basin showing Geoscience Australia line 100/03 through the Northern Territory Release areas and the Petrel and Tern gas accumulations. Location of the line is shown in Figure 2.

Current Exploration Opportunities in the Petrel Sub-basin, Bonaparte BasinNorthern Territory / Western Australia, Offshore Australia. Open for bids until 9 April 2009

Relevant Industry Data

NT08-2

W08-6

NT08-1

NT08-3

W08-5

W08-2

W08-3

W08-1

W08-4

Petrel

Tern

Bayu/Undan

Blacktip

Torrens 1

Penguin 1

Flat Top 1

Newby 1

Barnett 2

Billabong 1

Turtle 1,2

Marsi 1

Fishburn 1

Curlew 1

Ascalon 1A

Gull 1

Frigate 1

Polkadot 1

Sandpiper 1

Darwinia 1AJacaranda 1

Schilling 1

Marina 1

NT/P71

NT/P72

WA-405-P

WA-403-PWA-402-PNT/P64

WA-407-P

NT/P66

NT/P63

NT/P67

WA-318-P

WA-376-P

WA-375-P WA-324-P

WA-313-P

WA-280-PNT/RL3

WA-13-R

NT07-4NT07-3

NT07-5

W07-4

WA

NT

JPDA

WA-33-L

WA-6-R

NT/RL1

WA-27-R

Lesueur 1Berkley 1 Shakespeare 1

Billawock 1

Kinmore 1

Bougainville 1

Weasel 1

Cambridge 1 Lacrosse 1

Matilda 1

WA

NT

SA

QLD

NSW

VIC

TAS

0 50 km

07-2405-21

WESTERNAUSTRALIA

NORTHERNTERRITORY

WA-279-P

Well symbols supplied by Geoscience Australia (basic data open file) and Encom Petroleum Information Pty Ltd (basic data confidential).These were generated from open file data as at 31 Jan 2008.Field outlines supplied by Encom Petroleum Information Pty Ltd. Field outlines in GPinfo are sourced from the operators of the fields only.Outlines are updated at irregular intervals but with at least one major update per year.

Saratoga 1

Kulshill 1Kulshill 2

130°129°128°127°

12°

14°

13°

2007 release area

2008 release area

Gas field

Oil field

Adjacent area boundary

Gas pipeline

Petroleum exploration well - dry hole

Petroleum exploration well - gas show

Petroleum exploration well - oil show

Petroleum exploration well - oil and gas show

Petroleum exploration well - gas discovery

Petroleum exploration well - oil discovery

Petroleum exploration well - oil and gas discovery

Petroleum exploration well - gas discovery with oil show

Petroleum exploration well - oil discovery with gas show

Existing petroleum title

Figure 8

100/05

Figure

7

Figure 6

Figure

5

Petrel

Tern

Blacktip

WA

NT

SA

QLD

NSW

VIC

TAS

WESTERN AUSTRALIA

118/1

8

100/0

3

100/0

2

Endeavor 1

Well symbols supplied by Geoscience Australia (basic data open file) and Encom Petroleum Information Pty Ltd (basic data confidential).These were generated from open file data as at 31 Jan 2008.Field outlines supplied by Encom Petroleum Information Pty Ltd. Field outlines in GPinfo are sourced from the operators of the fields only.Outlines are updated at irregular intervals but with at least one major update per year.

07-2466-2

Petroleum exploration well - dry hole

Petroleum exploration well - gas show

Petroleum exploration well - oil show

Petroleum exploration well - oil and gas show

Petroleum exploration well - gas discovery

Petroleum exploration well - oil discovery

Petroleum exploration well - gas discovery with oil show

Petroleum exploration well - oil discovery with gas show

Pelican Island 1

Bonaparte 1

Matilda 1

Sandbar 1Cambridge

Trough

Kingfisher 1

Keep InletSub-basin

Kulshill 1, 2Barnett 2

Turtle 1

MoylePlatform

Cambridge 1Lacrosse 1

Lacrosse Tce

NTWA

Kinmore 1Shakespeare 1

Kuls

hill

Tce

Bougainville 1

Rambler 1

Ascalon 1A

Londonderry High

Torrens 1

Malita Graben

Schilling 1

Marsi 1

Billabong 1

Fishburn 1

Gull 1

Frigate 1

Curlew 1

Jacaranda 1

Newby 1

Darwin Shelf

Flat Top 1

Billawock 1

Petrel DeepSandpiper 1

Penguin 1Polkadot 1

Darwinia 1A

Lesueur 1

Berkley Platform

W08-4

NT08-1

NT08-3

NT08-2

W08-2

W08-1

NT08-3

W08-6

128°127°126°

12°

14°

129°

13°

Kimberley Block

W08-5

0 100 km

Figure 5

Precambrian Basement

Gas field

Oil field

Mesozoic Sub-basin

Mesozoic Platform/Shelf

Palaeozoic Sub-basin

Coastline

Sahul Syncline

Echo Syncline

07-2466-3

Formation/Unit

OFFSHORE ONSHORE

Tectonics Discoveries

CE

NO

ZO

ICC

RE

TA

CE

OU

SJU

RA

SS

ICT

RIA

SS

ICP

ER

MIA

NC

AR

BO

NIF

ER

OU

SD

EV

.

Mio

cene

Oligo-cene

Eoc

ene

Late

Ear

lyLa

teE

arly

Mid

dle

Late

Mid

.

Early

Late

Ear

lyLa

teM

id.

Ear

lyLa

te

Undiff.

Undiff.

Undiff.

Milligans Fm

PA

SS

IVE

MA

RG

INN

OR

TH

EA

ST

RIF

TIN

GN

OR

TH

WE

ST

RIF

TIN

G

RIF

TS

EQ

UE

NC

EP

OS

T-B

RE

AK

UP

SE

QU

EN

CE

PR

E-E

XT

EN

SIO

NP

HA

SE

RIF

T S

EQ

UE

NC

EB

RE

AK

UP

PO

ST

-BR

EA

KU

P S

EQ

UE

NC

E

Collision of Australian platewith Timor

Regional Compression

Thermal subsidence

Thermal subsidence

Reactivation of northwestrifting

Major salt diapirism

Rapid subsidence

BREAKUP

UNCONFORMITY

UNCONFORMITY

VALANGINIAN

CALLOVIAN

Weaber

Blacktip

Blacktip

Blacktip

Lesueur 1

Garimala 1

Weaber,Waggon Creek 1,Keep River 1,Bonaparte 2,Vienta 1

Petrel, Tern, Fishburn 1,Penguin 1, Polkadot 1

Wea

ber

Kul

shill

Kin

mor

eT

roug

hton

Fla

min

goB

athu

rst I

slan

dW

oodb

ine

Paleo-cene

10

20

30

40

50

60

70

80

90

100

110

120

130

140

150

160

170

180

190

200

210

220

230

240

250

260

270

280

290

300

310

320

330

340

350

360

370

Age(Ma)

Sys

tem

Ep

och

Gro

up

Pearce Fm

Cape Hay FmHyland BaySub-group

Dombey FmTern Fm

Penguin Fm

Treachery ShaleKeyling Fm

WangarluFormation

DarwinFormation

Sandpiper Sandstone

Frigate Formation

Plover Formation

Malita Formation

Cape LondonderryFormation

Mt Goodwin Formation

Fossil Head Formation

Kuriyippi Formation

Point Spring Sandstone

Tanmurra Formation

Langfield Group

Ningbing GroupBonaparteFormation

Cockatoo Group

Turtle 2

Barnett 2

Turtle 2

Turtle 1, Barnett 2

Turtle 2

W08-5 W08-3 NT08-3 NT08-2

Sandpiper 1 Tern 1

0

1

2

3

4

5

6

7

8

9

10

Two-

way

tim

e (s

)

SW NE

Line 100/03 07-2466-6

Basement

Mid Carboniferous

Late Carboniferous

Near Top Carboniferous

Top Permian

Intra TriassicBase Jurassic

Base CretaceousValanginian

CallovianAptian

TuronianLate Miocene

Petrel 1A

Berkley Platform Petrel Deep Darwin Shelf

0 50 km

NT08-1

31 2

4