Gold Projects, Argentina


LOCATION: Central-Eastern region of Santa Cruz province, Argentina

In 2014 NavGas was successful in tendering for ATP1183 (Roma Shelf) which is considered prospective for oil, gas and condensate targets. The granted tenement area extends over a highly prospective area of the Roma Shelf, and surrounds the Riverslea Oil Field and Major Gas/Condensate Field, both of which are excluded from the permit under Petroleum Leases. The Boxleigh Gas Field adjoins the Roma Shelf Project area to the east.

Based on a reinterpretation of the existing seismic database and an analysis of petroleum wells drilled by previous explorers, NavGas believes that several promising conventional petroleum targets exist within the Roma Shelf Project.

Several leads have been identified within the Roma Shelf, in areas peripheral to the Major Gas/Condensate Field, and in the area to the east between Major and Boxleigh. The largest of these is an untested lead measuring 4.8km2 with an exploration target focussed on light crude / condensate. The target oil, condensate, and gas bearing Showgrounds Sandstone Reservoir is predicted to lie at approximately 1700m depth.

In the north of the Roma Shelf Project, the 4.8 km2 Riverslea West lead lies up-dip from the Riverslea Oil Field. Previous drilling on the edge of closure is not considered by NavGas to be an effective test. The target Evergreen Formation sand is predicted at approximately 1440m depth and NavGas considers the lead to be prospective for discovery. Several smaller oil-prospective leads have been identified within the Roma Shelf Project area in the vicinity of the shut-in Martini Oil Field. The target is oil hosted in Moolayember sand reservoirs at approximately 1520m depth.


LOCATION: Flinders Ranges, South Australia, 200km north of Adelaide

Dark Horse Resources' shale gas project is held within its subsidiary NavGas Pty Ltd (NavGas) and is located in the Flinders Ranges in South Australia covering 53,000km2 of petroleum exploration licence applications.

The Project covers Proterozoic aged (12 million years old) organic rich shales and carbonate rocks. These rocks are similar in age and characteristics to shales in Armour Energy’s Northern Australian Project in the McArthur Basin.

The NavGas Project areas is considered to be located in rocks older and more brittle than the nearby Arckaringa Basin. Dark Horse Resources expects these rocks to be amenable to lateral drilling and fracturing to facilitate gas exploration and appraisal. The previous gas shows and small flows from the Blinman-2 drill hole in 1991 are considered to underscore the gas prospectivity of the Proterozoic organic shale package within the tenement area. The target shales are expected to be up 400 metres thick.

The NavGas Project is favourably located adjacent to gas pipeline infrastructure, and is positioned to take advantage of the expected local demand for gas in Eastern Australia in the next five (5) years. Conventional and unconventional plays likely within the project area, including the historic Wilkatana Oilfield.