Top End Energy Limited (Top End or the Company) (ASX:TEE) advises of preliminary outcomes from the detailed geophysical and geological evaluation undertaken on its recently acquired Exploration Permit (EP) 144 (the Permit), which is located in the South Nicholson Basin area of the Northern Territory (NT) of Australia.

HIGHLIGHTS

• Significant gas play fairway (up to ~3,500 km2) has been identified on EP 144 based on offset drilling and seismic interpretation. 
• NDI Carrara-1 deep stratigraphic well (3.5km East of EP144 boundary) intercepted multiple source rock intervals with total organic carbon (TOC) sampled up to 5.5%. 
• Permit located proximate to the Northern Gas Pipeline, providing access to Mt Isa and the East Coast gas market. 
• NDI Carrara-1 well also suggests localised presence of Hydrogen and Helium, with high Hydrogen concentration samples of up to 27% (air-corrected) acquired. 
• Top End holds a 100% interest in EP144, which is the only granted permit in the South Nicholson basin in the Northern Territory. 
• Low-cost near-term work program designed to prove presence of source rocks on EP 144 and acquire samples of Helium and Hydrogen. 

Commenting on the growing potential of the EP 144 acreage in the South Nicholson Basin, Managing Director Oliver Oxenbridge said:

“Our initial work on the potential of EP 144 has delivered exciting outcomes. Our interpretation of the GA seismic lines indicates high probability of key source rock formations extending well into our acreage. When overlaid with the results from the Carrara-1 stratigraphic well, the potential for a highly prospective unconventional gas play fairway on EP 144 is readily evident. This is complemented further by Helium and Hydrogen potential also indicated across the basin. We now plan to refine our near-term work program for EP 144, which is expected to include further geophysical analysis, soil gas sampling, and targeted stratigraphic drilling.”

All results and figures can be found through the Top End Energy ASX Announcements page.