The evaluation was undertaken on three prospects inthe permits, withthe high case being 27.6Tcf andthe low case being 3Tcf.
Cott saidthe evaluation wasthe result of “detailed knowledge ofthe Papuan Besin”, along with a study of open regional data and new information from recent wells drilled inthe area.
It also said it believedthe highest gas and liquids potential lay withinthe sothern part ofthe basin.
The joint venture is hoping to workthe permits up to a point where it can attract a farm-in partner, withthe first two years’ work onthe permits to include aeromagnetic and gravity surveys, along with reprocessing of existing seismic data.
Cott said it was onthe hook for $US900,000 ($A871,477) overthe two-year period, with Kina to act asthe operator.
