Great Artesian has several gasfields awaiting production in the Cooper Basin, South Australia. Below are details of these resources.
Net Oil Reserves are represented by the Kiana field and net gas/condensate reserves by the Udacha and Middleton wells. Recent gas/condensate discoveries, such as Cadenza and Paprika wells, subject to cased hole production testing, are contained within the Net Contingent Resource classification. Reserve and resource estimates of raw gas have been separated into Sales Gas and LPG components, in line with existing and likely future gas sales agreements - LPG being the more valuable component.
Great Artesian Oil and Gas Limited completed an in-house review of its net reserves and net resources of South Australian permits in which it has interests and announced these on 26 February 2007. The estimates of the Un-risked Net Prospective Resources highlight the very significant upside that Great Artesian has, particularly for its oil potential.