Figure 1: EP371 in WA's Canning Basin
Project Valhalla (EP371) is in the Fitzroy Trough, west of Fitzroy River in WA’s north, about 2,500km from Perth. The permit area covers 3,662km2 in the Canning Basin – the eighth largest undeveloped gas reservoir in the world and the last non-developed basin in Australia.
We aim to develop Valhalla to provide energy security and employment to WA. Valhalla’s location means it is adjacent to three key natural gas markets – primarily WA domestic supply, but also to customers in eastern Australia and export to Asia.
Previously held by Buru Energy and Mitsubishi, EP371 has existing wells and an Independent Technical Expert has estimated it has 11.8 trillion cubic feet (TCF) of prospective gas resources and 1.5TCF of contingent gas resources. We aim to develop these resources to provide socio-economic uplift to the project area’s Traditional Owners and also provides WA with a supply of low-cost and reliable natural gas.