A petroleum potential study of the Great Australian Bight (an open bay), offshore South Australia, is planned. The project will be conducted by Australia's Commonwealth Scientific and Industrial Research Organization (CSIRO), Marine Innovation Southern Australia, and BP. The latter holds license permits and has completed surveys that indicate the area has significant hydrocarbon reserve potential.

According to a 2012 Australian Government report on the Ceduna sub-basin and Bight Basin, the area is an underexplored, large frontier Jurassic-Cretaceous basin in 150 to 3,700 meters of water. There is a large range of structural and stratigraphic plays associated with Upper Cretaceous marine and deltaic successions and Jurassic–Lower Cretaceous non-marine rifts and multiple potential source rocks, including Cenomanian–Turonian oil-prone marine organic-rich rocks.

The Ceduna sub-basin has a 15-kilometer-thick sedimentary section with distributed Upper Cretaceous marine and deltaic facies. Upper Cenomanian–Turonian organic-rich marine rocks show mature, high-quality potential source rocks, and potential seals are present in the Upper Cretaceous deltaic successions with possible regional seals provided by Upper Cretaceous marine shales.

The Great Australian Bight is a major Australian fishing province and is the habitat of whales, sea lions, sharks, tuna and a wide range of fish species.

–Larry Prado

1 Canada

A resource evaluation for Petrolia in Quebec, Canada's Gaspé Peninsula estimates that there is more than 1 trillion cu. ft. of wet gas in place in four prospects. During drilling and testing evaluations at #1-Bourque and #2-Bourque, Petrolia found wet natural gas and traces of light oil. The wet gas discovered was rich in liquid petroleum gases (butane and propane) and condensate (pentane, hexane, etc.). Log evaluation indicated a reservoir with vuggy type porosity associated with open fracture networks. Test analyses showed a conventional low permeability carbonate reservoir (tight gas carbonate reservoir). Carbonates of Forillon, which extend over large areas and located close to major faults such as the North West Arm Fault, constitute a promising exploration play in the peninsula. A production test program is planned to test Forillon and to help delineate the in-place resources and potential recoverable volumes. Rimouski, Quebec-based Petrolia is the operator of the Gaspé Peninsula Concession and the Bourque Project wells with 100% interest.

2 Argentina

In Argentina's Neuquen Pro vince, Americas Petrogas reported a gas and natural gas liquids discovery at #1-x ALL, a vertical well that was drilled on the Los Toldos I Block. The company announced that #1-x ALL hit 652 meters of Vaca Muerta along with other secondary targets. Americas Petrogas hydraulically stimulated the well four stages. Initial production, after the clean-up flow back, increased from 1.3 million cu. ft. per day to 3.2 million cu. ft. per day. The productive zone is between 2,570 and 2,929 meters In addition, the company reported 9 to 18 bbl. per day of 54-58 degree-gravity condensate. Additional coring and other tests are planned and currently the well is shut-in for a pressure build-up test. Calgary-based Americas Petrogas is the operator of the Los Toldos Blocks with 45% interest in partnership with ExxonMobil, 45%, and Gas y Petroleo del Neuquen with the remaining 10%.

3 Brazil

According to Oil and Gas International, BP has completed a flowtest of #1A-Itaipu discovery well in the Campos Basin's deepwater sector pre-salt area, Block BM-C-32. Tested on a 40/64-in. choke, the well flowed up to 5,600 bbl. of oil per day from a limited perforated interval. A second appraisal well, #3-Itaipu, is planned in Itaipu Field in 2013. London-based BP is the operator of BM-C-32 and the Itaipu wells with 40% interest in partnership with Anadarko Petroleum, holding 33.3%, and Maersk Energia, with the remaining 26.7%.

4 Norway

Lundin Petroleum AB has reported an oil discovery at #16/4-6S exploration well in Block 16/4 on the Luno II Prospect. The well is in the Norwegian sector of the North Sea in PL359 where the water depth is 101 meters.The #16/4S penetrated a section of almost 200 meters of sand with a high net-to-gross content. A gross light oil column of good quality in excess of 40 meters has been proven. The oil-water contact was encountered at approximately 1,950 meters and a production test is planned. The discovery is on the southwestern flank of the Utsira High and south of Lundin's operated Edvard Grieg Field. Lundin is the operator of PL359, Block 16/4, and the Luno II discovery with 40% interest in partnership with Statoil, holding 30%, and Premier Oil with 30%. Lundin's headquarters are Stockholm.

5 Poland

Salt Lake City-based FX Energy announced test results from drilling activity in Poland. The 3,980-meter #3K-Tuchola is on the Edge concession and had light hydrocarbon shows in a 36-meter section of Main Dolomite. In a 100-meter section of Upper Devonian, the interpreted log porosity was 20% and additional testing is planned. The company is drilling ahead to a Middle Devonian sand oil target. The #3KTuchola was designed to test the Zechstein Main Dolomite, the Upper Devonian and middle Devonian. FX Energy is the operator and owns 100% of the working interest. At #1K Mieczewo, FX is testing a Rotliegend structural target in the western part of the Fences concession. A drillstem test of the upper 9.6 meters flowed gas and no reported water. Logging and core data suggests that the gas column is 10 meters, which the company considers non-commercial and the well will be plugged and abandoned. The Polish Oil and Gas Co. is the operator and owns 51% of the working interest; FX Energy owns the remaining 49% working interest.

6 Algeria

Madrid-based Repsol has made a second large gas field discovery in its Sud-Est Illizi permit area in Algeria. The #1-TGE discovery well encountered a 50 meter gas column and during preliminary production tests flowed 8.29 million cu. ft. per day. Additional completion information is not available but the company reported that the discovery of additional gas reserves at Sud-Est Illizi will make the block commercially viable. Repsol operates the Sud-Est Illizi permit, which includes Blocks 232 and 241, with a 25.7% interest in partnership with Enel holding 13.5%, and GDF Suez with 9.8%. Sonatrach owns the remaining 51%.

7 Cameroon

Preliminary results from an offshore Cameroon appraisal/development well #5-IM in Block MLHP-7 (Etinde permit) were announced by Edinburgh-based Bowleven Plc. A drillstem test confirmed condensate-rich gas from Middle Isongo interval: Additional testing is planned for the Intra Isongo interval. The #5-IM had a maximum flowrate of 23 million cu. ft., of gas and 3,155 bbl. of 43-degree-gravity API condensates. The venture was drilled to 3,430 meters in 56 meters of water and hit approximately 25 meters of log-evaluated, net hydrocarbon-bearing pay in Middle Isongo over a gross interval of approximately 33 meters. A second drillstem test is planned for Intra Isongo sands and the #5-IM will be suspended as a future producer after testing.

8 South Africa

At its Amersfoort project in South Africa, Kinetiko Energy Ltd. reported initial test results of pilot well #03PT-KA. The venture flowed at a stabilized rate of 332,000 cu. ft. per day with a flowing wellhead pressure of 25 psi from Mpumalanga. According to the company, the well produced dry methane rich gas (less than 95%, trace CO), from an unstimulated, vertical, barefoot completion that targeted coalbed methane from sandstones, carbonaceous mudstones, and coals. A fifth test well, #07PT-KA, is under way to test sandstone gas and coalbed methane. Five exploration pilot test wells will be completed on the northern Amersfoort Project license (56ER) by mid-2013 and five more are planned on the southern license (38ER). Subiaco, Western Australia-based Kinetiko is the operator of the two gas licenses in the Amersfoort Project with 49% interest under an agreement with its South African partner Badimo Gas.

9 Australia

A three-well exploration program by Drillsearch Energy Ltd. is under way at its 100% owned and operated part of the Western Cooper Wet Gas Project in Queensland, Australia's PEL06A permits area. The exploration program is targeting conventional wet gas accumulations in high quality sands in Patchawarra with three prospects—#1-Wamberal, #1-Moruya and #1-Narrabeen. Conventional gas accumulations in the Western Cooper Wet Gas Project Area typically contain gas with condensate and liquefied petroleum gas ranging between 30-180 bbl. of oil equivalent per million cu. ft. of recoverable raw gas. The program's secondary target is to identify oil and gas resources in tight sands of Patchawarra, Tirrawarra, Epsilon, and Toolachee as well as the shale gas potential within Rose-neath and Murteree. Sydney-based Drillsearch plans to cut two 30-meter cores at #1-Moruya, targeting conventional and unconventional reservoir sequences in Patchawarra.

10 Australia

A six-well drilling program is under way by Beach Energy Ltd. in the PEL92 permit in the western flank of the Cooper/Eromanga Basin in South Australia. According to Beach partner, Cooper Energy, the program consists of four exploration/appraisal wells and two development wells. The first well is #1-Rincon North, an appraisal of discovery #1-Rincon. Two exploration wells, #1-Sharples and #1-Wyomi are planned to test the north-south trend of producing fields, and a fourth exploration well will be drilled after assessing results from the previous wells. The two development wells, #7-Callawonga and #8-Callawonga, are intended to accelerate Namur sandstone production. Adelaide-based Beach is the operator of PEL92 with 75% interest in partnership with Cooper, holding the remaining 25%.

11 Australia

In South Australia's Cooper Basin, Senex Energy Ltd. announced that #1-Hornet in Cooper Basin Permit PEL 115 produced more than 2 million cu. ft. per day after multizone fracture stimulation. The well was stimulated over the interval 2,484 to 2,678 meters, targeting the tight gas sands of Patchawarra. Two drillstem tests were conducted on the well with gas flowing to surface. Initial production testing and pressure monitoring at #1-Hornet are planned. Brisbane-based Senex is the operator of PEL115 and #1-Hornet with 80% interest with Orca Energy, holding the remaining 20%.