Blue Energy out to unlock Surat Basin's oil riches

EXPLORATORY drilling for oil reserves will start near Roma in less than a week.

Blue Energy Limited will drill and evaluate the Marburg 1 well, 120km north-west of Roma, to a planned depth of 700m.

Blue Energy CEO John Phillips said he believed the Surat Basin, currently a major centre for coal seam gas activity, had been overlooked as a potential oil production site.

"Definitely in the early days they were looking for oil … they were looking for the big elephants if you will," Mr Phillips said.

"They didn't get enough encouragement with the initial well.

"We think there's a reasonable chance that there's something that's missed."

The first stage of the exploration, which is funded by KIB Energy, will take several weeks.

"Obviously if it's a dry hole we walk away, but if we do get some encouragement we will follow up with some work.

"By the end of October we'll have a pretty good idea of what we've got.

"It's a risky venture in terms of chance of success."

Topics:  blue energy oil resources roma surat basin

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Snitz sizzles to win qualifier with ease

IN FULL FLIGHT: Brisbane jockey Robbie Fradd streaks clear to win the $150,000 NRRA Country Championships qualifier on board Snitz, trained by Matt Dunn, at Clarence River Jockey Club.

SHORT priced favourite sends everybody home happy.

Ballina Players brings popular military drama to the stage

ON STAGE: John Rado as Colonel Nathan Jessep and Dylan Wheeler as Lt Daniel Kaffee in the Ballina Players production of A Few Good Men.

Tickets are on sale for their new production of A Few Good Men

Local Partners