This volume summarises our present understanding of the formation of passive continental margins and their ocean-continent transitions. It outlines the geological, geophysical and petrological observations that characterize extensional systems, and how such observations can guide and constrain dynamic and kinematic models of continental lithosphere extension, breakup and the inception of organized sea-floor spreading.

"Oil and gas discoveries in Australia's offshore basins are concentrated on the North West Shelf (Northern Carnarvon, Browse and Bonaparte basins) and Bass Strait (Gippsland, Otway and Bass basins). While discoveries have been made in a few regions outside these areas (e.g. Perth Basin), a large proportion of Australia's offshore basins remain exploration frontiers. However, the decline in oil production from the North West Shelf and Bass Strait basins since 2000 has led to an increasing exploration interest in the frontier basins. In order to improve our knowledge of the offshore frontiers and encourage exploration to these areas, from 2003-2011, Geoscience Australia was funded by the Australian Government to undertake a series of pre-competitive data acquisition and analyses programs in frontier basins around the Australian margin. This Record presents a comprehensive inventory of the geology, petroleum systems, exploration status and data coverage for 35 frontier basins, sub-basins and provinces, that draws on the results of those pre-competitive data programs, as well as exploration results and the geoscience literature. The Record also provides an assessment of the critical science and exploration questions and issues for each area. The results of each basin assessment are summarised in a prospectivity ranking. The availability of data and level of knowledge in each area is reflected in a confidence rating for that ranking. While the prospectivity of some areas is widely acknowledged to be high (e.g. Ceduna Sub-basin), the perception of prospectivity in many basins is negatively affected by the amount or quality of data available; in these basins, the acquisition of new data or targeted research could make a significant difference to the understanding of petroleum potential and likelihood of success. Therefore, recommendations for future work that could assist in addressing key knowledge or data gaps are included in each basin assessment." -- Online abstract.