Liberty Petroleum Corporation
L-12-5 Liberty Petroleum Corporation Western Australia Officer Basin Location: Officer Basin Australia Block size: 5,600,000 Acres Operator: Liberty chosen as preferred explorer, in Native title Wells Drilled: 0 L-12-5 Discoveries: 0 Next well: Unknown Prospective Resource: 50 MMBO Liberty Petroleum W.I. : 100%
LINE 137 L-12-5 A C NE -LINE 137 B L-12-5 Leads Salt Dome Stacked structure 60,000 acre prospect A - Approx 31,000 Acres B - Approx 19,000 Acres C Approx 10,000 Acres L-12-5 SW
L-12-5 Summary of Seismic line 11GA-Y01 L12-5 Block, located in the Officer Basin could offer the biggest in terms of the prize. Think multi-billion barrel oil fields in Neoproterzoic rocks, in the same style as onshore oil fields in Siberia and Oman. The Officer Basin geology and hydrocarbon potential is analogous to basins in Arabia and Siberia with massive multi-billion barrel oil reserves, A deep seismic survey (line 11GA-Y01) was recently conducted by Geosciences Australia & Geosciences Western Australia. The survey has revealed a different architecture in the western Officer Basin than previously interpreted from the handful of exploration wells drilled in the region. Until now, the western Officer had been divided into four structural zones, beginning with a wide, shallow platform in the west, a thrust fault zone, a zone where salt diapers and related features and an overthrusted zone in the east at the boundary with the Musgrave province. The new results suggest the western end is shallow but not a platform, and the eastern boundary is defined by an extensional fault, not a thrust fault. Perhaps most significantly for oil explorers is the finding that salt diapirs occur much further west than previously believed and are responsible for disruptions to the stratigraphy that were previously interpreted as the thrust fault zone. This means that salt-related petroleum traps extend over a much larger proportion of the areas released this month by the WA government than previously believed. Salt diapirs can host a wide variety of traps, and have been the source of some the world s richest oil discoveries, including the famous Spindle top field in Texas and the 1.7 billion barrel Ekofisk field in the North Sea. Provides a section across almost entire basin Asymmetrical Basin Thickening to the east Sedimentary succession has been disrupted by salt diapirs some of which extend to the near surface Known hydrocarbon system Salt provides numerous potential oil trapping areas
L-12-5
Liberty s Block Kanpa Formation Salt Diapirs Liberty s Block Hussar Formation Liberty s Block Browne Formation
1 1 2 3 2 Line T82-137 3 Line T82-144
A B C L12-5 Minimum Guaranteed Work Program Year 1 Complete a geological evaluation of the area, with particular emphasis on examination of salt associated, sub-salt structure and salt diapirs within the area, in order to determine the potential of traps adjacent to these formations. Re-process of existing data is probable. Minimum expenditure - $AU100,000. Year 2 Shoot 500 kilometer of 2D seismic. Minimum expenditure - $AU3,500,000. Year 3 Analyze the data and select the best location for the well to be drilled in the fourth year. Minimum expenditure - $AU250,000. Year 4 Drill exploration well to a depth sufficient to test Browne formation or equivalent. Minimum expenditure - $ AU7,000,000. Year 5 Perform a post-well evaluation and select the drilling location for the well in year six. Minimum expenditure - $ AU250,000. Year 6 Drill exploration/appraisal well to a depth sufficient to test Browne formation or equivalent. Minimum expenditure - $ AU7,000,000. The first two years' expenditures are Guaranteed. L-12-5 A C SW NE -LINE 137 B L-12-5 Leads Salt Dome Stacked structure 60,000 acre prospect A - Approx 31,000 Acres B - Approx 19,000 Acres C - Approx 10,000 Acres
The Latest Major Australia Shale Oil Discovery occurred in an area of the country called the Arckaringa Basin around the town of Coober Pedy. Money Morning s Global Energy Strategist, Dr. Kent Moors, says that the discovery could be the largest shale oil find ever recorded. It could contain as much as 233 billion barrels (or $20 trillion worth) of recoverable shale oil! To put that into perspective, the 233 billion barrels is a mere 30 billion barrels shy of the estimated reserves of Saudi Arabia. It is also bigger than the Athabasca oilsands in Canada, which are estimated to hold about 170 billion barrels of proven or probable reserves. The operator states that extensive core analysis of the basal Arthur Creek shale reservoir in the Macintyre-1 well on EP 127 indicates a potential bypassed unconventional pay zone analogous to the prolific Bakken Shale Formation in Southeast Canada & North Dakota.
Liberty Petroleum Corporation 10851 North Black Canyon Highway Suite #540 Phoenix Arizona 85029 602-995-7194 - Phone 602-864-6690 - Fax www.libertypetroleumcorporation.com