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WHL Energy JV Partner Study Supports Palta Gas Resource Estimate

WHL Energy (ASX: WHN) has highlighted a report estimating that the Palta prospect in WA-460-P, offshore Western Australia, holds Mean Prospective Gas Resources of 2.54 trillion cubic feet of gas.

The report, prepared for joint venture partner Cott Oil & Gas by Sablet, added that this represented 18% of the broader Palta prospect.

The estimate is also in line with WHL's previous estimate of 2.5Tcf.

Shell is currently drilling the Palta-1 exploration well in the adjacent WA-384-P, where the majority of the prospect is located.

Cott had commissioned the report for its prospectus that has been lodged with the Australian Securities and Investments Commission.

"WHL Energy wishes Cott Oil & Gas every success with its prospectus and notes that the Palta‐1 well being drilled under contract by Shell was now nearing the half way mark of the estimated 60 day drilling schedule," WHL managing director Steve Noske said.

WA-460-P is located 70 km west of Cape Range in the Exmouth Sub-Basin, a major producing oil and gas province.

The Sub-Basin is the southern most in a series of Jurassic depocentres that form the northern Northern Carnarvon Basin. Oil production commenced in the Exmouth Sub-basin in 2006 and since 1993, 11 oil and gas accumulations of the productive 'Dingo-Barrow' petroleum system have been discovered to the east of WA-460-P.

The extensive 'Locker/Mungaroo-Mungaroo/Barrow' petroleum system, which has sourced some of the giant gas fields in the Northern Carnarvon Basin, was proven within the area with the discovery of gas in the Mungaroo Formation at Falcone 1A north of WA-460-P in 2005.

Both WHL and Cott hold a 33.3% interest in WA-460-P.

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