Exploring for growth in Australia

Onshore Perth Basin

Key Petroleum has joined the hunt for domestic oil in Australia by participating in a two well onshore drilling campaign in permit EP 437 in the North Perth Basin and is earning a 45% interest in the permit.

The North Perth Basin is a known hydrocarbon province and has seen considerable success for a number of companies. Key's decision to participate in the drilling of these two onshore wells is based on the belief that it has the potential to provide low cost oil production.

The first two wells could provide in the region of 400 bbls/day and the permit has considerable upside potential with other prospects identified.

EP 437 in the North Perth Basin Click for 128kb enlargement