Canning Basin - Exploration Permit - EP487
- Oil Basins Limited (OBL) owns 50% of EP487 Joint Venture. Rey Lennard Shelf Pty Ltd (subsidiary of Rey Resources Limited, ASX: REY) owns the other 50%.
- The Canning Basin is located in Central northern Western Australia approximately 1550 km north east of Perth.
- Petroleum exploration began in the 1920�s on the Lennard Shelf.�� The first commercial discovery was in 1981 (Blinga 1 well).
- The US Energy Information Agency reported in 2013 that the Canning Basin has the largest shale gas potential in Australia and eight largest in the world, estimated it has in excess of 225 TCF of recoverable shale gas (based on the Goldwyer formation play alone).
- Sealed roads surround EP487, and the Curtain Air Base is located on the permit.���
- The proposed northern gas pipeline connects EP487 to shipping ports.
- EP487 � Derby is located in the Fitzroy Trough and is over 5000 Km2
- EP487 is world class asset