April 2016 GPinfo Update


Data Update

 

The April 2016 data update is now available. It includes a new version of the GPinfo application

 

A new streamlined import option has been added to make it easier to import user data files. It assumes a coordinate system and datum of Lat/Lon and GDA94, which are the industry standard

 

Industry Summary

 

AWE Limited has lodged the final documents for environmental approval for the upgrade of its Xyris Production Facility in the Perth Basin to facilitate the first phase of the Waitsia gas field under its 30-month take-or-pay contract with Alinta Energy

 

Berylium 1 is the second of four near-field exploration wells to be drilled in the ex PEL 513 permit area in FY16. The drilling campaign is targeting the liquids-rich gas play area of the southern Patchawarra Trough, with prospects identified on the Jacenza 3D seismic survey …

 

Permit Updates and Changes

 

EnergyAustralia has withdrawn from PEL 434 and its interests have been distributed pro-rata to the remaining JV partners.  New interests are as follows - Santos NSW P/L 56.25% and Santos QNT P/L 43.75% …


 

 

The April 2016 GPinfo update is now available. 

 

The April 2016 update for GPinfo includes a new version of the GPinfo application.

 

GPinfo 5.10 - New Features

 

Streamlined Import

 

A new streamlined import option has been added to make it easier to import user data files. It assumes a coordinate system and datum of Lat/Lon and GDA94, which are the industry standard, and so can be used for any files that have this format. 

 

1.     On the File menu, select New Quick Lat/Lon Layer.

2.     Browse to the file you wish to import and double-click.  A layer is created at the top of the Map Manager tree with default layer name of path/filename.

3.     Click-and-drag to move the layer to a different group in the Map Manager.

4.     Right-click on the layer and select Rename to give the file a more suitable name.

5.     Right-click on the layer and select Properties to change the display characteristics of the layer.

 

KML Import

 

Google Earth KML has been added to the list of available import formats for user data layers in GPinfo.

 

1.     Create a new layer.

2.     Browse to the file you wish to import. GPinfo will automatically show files with .kml extension in the list of files available for import. Double-click on the required file. 

3.     Move and/or modify the new layer as described above.

 

KML export has been available in GPinfo for some time.

 

Industry Summary

 

Company News

 

Tap Oil plans to axe jobs and operations so it can meet its restructured debt repayment commitments. The cost-cutting initiatives include a divestment of all Tap Oil’s Australian exploration portfolio that has material outstanding commitments and to farm-out, defer, or materially reduce the company’s expenditure in Myanmar. As part of the significant reorganisation, Tap has announced a three-for-five rights issue to raise $7.75 million. The company’s two major shareholders, Risco Energy and Northern Gulf Petroleum (NGP), will each subscribe for $1.5 million and have agreed to underwrite subscriptions up to $1.6 million each. Paterson Securities has underwritten the balance. Risco and NGP each will be entitled to a seat on the board if their respective shareholdings in Tap Oil reach 25% and outstanding commercial and corporate disputes are resolved. (Source: Tap Oil announcement, 14/03/2016).

 

BP is again trying to win approval for its plans to drill the Stromlo 1 well in the Great Australian Bight, submitting a revised environmental plan to the National Offshore Petroleum Safety and Environmental Management Authority. BP previously submitted its first plan in October 2015, but after an extended 60-day review NOPSEMA knocked it back, and offered BP an opportunity to modify and resubmit the plan. The review is supposed to take 30 days, NOPSEMA has the option of delaying a decision by 30 days at a time. (Source: Energy News Premium, 17/03/2016).

 

Carnarvon Petroleum has revealed that the Roc 1 well defined gross 3C resources of 372 bcf and 18 million barrels of condensate and there is almost as much again updip with additional prospective resources of 328 bcf and 16 mmbbl. Current 1C resources are a sub-commercial 42 bcf and 2 mmbbl with further prospective resources of 87 bcf and 4 mmbbl, while the best case scenario is for 270 bcf and 13 mmbbl and a further 193 mmbbl and 16 mmbbl, RISC calculated. Carnarvon managing director Adrian Cook says that, as it stands, the field at the 2C level falls just short of the estimated minimum economic field size of around 325 bcf and 17 mmbbl, but the drilling of Roc 2, targeting hydrocarbon zones higher in the structure could change all that. Roc 2 is planned for the second half of the year. (Source: Carnarvon Petroleum announcement, 17/03/2016, Energy News Premium, 17/03/2016).

 

Cooper Energy has just passed another critical milestone with AGL Energy signing a binding heads of agreement for up to 6.6 PJ of gas per annum from the Sole and Manta gas developments. The agreement, which is subject to an affirmative Final Investment Decision (FID), provides for the supply of up to 53 PJ from Sole over eight years, together with options for a two year extension and for supply of up to 4 PJ per annum from Manta. Sole is currently undergoing a front-end engineering and design process with a view to reaching a final investment decision in this year’s third quarter. Cooper is currently assessing ways of appraisal and development of Manta with a view to an on-stream date of 2021. (Source: Cooper Energy announcement, 23/03/2016, Energy News Premium, 23/03/2016, Oil & Gas Journal, 24/03/2016).

 

MEC Resources and BPH Energy have announced that they have secured a seismic vessel for PEP 11, the only offshore permit in the Sydney Basin. The contracted vessel will perform a high resolution 2D seismic survey covering approximately 200 km to assist in the further delineation of the Baleen prospect, some 30 km south east of Newcastle, New South Wales. The Baleen HR survey will be tied-in to the New Seaclem 1 well location to facilitate lithological calibration. Baleen is a 24.3 sq km seismic amplitude anomaly area which the partners hope has trapped gas at the same level as the Permian-aged section of the Bowen Basin conventional gas fields. (Source: MEC Resources announcement, 14/04/2016).

 

MEO Australia is achieving positive results from the seismic reprocessing study over the 100% owned Beehive prospect in WA-488-P, which it says is one of the largest undrilled structures left in Australia. Beehive is a potentially giant, dual objective, oil prone prospect in the Bonaparte Basin located in 40m water depth next to the producing Blacktip field. The Carboniferous-age objective is a 180 sq km isolated carbonate build-up with 400m of mapped vertical relief, analogous to the giant Tengiz field in the Caspian Basin, sitting over a deeper Ordovician objective. The results of the preliminary reprocessing show a significant improvement in seismic data quality, including a clearer definition of the edge of the Carboniferous carbonate and a likely sealing shale unit. The work is expected to be completed mid-year. (Source: MEO Australia announcement, 14/04/2016).

 

Woodside and Korea Gas Corporation are pleased to advise that they have signed a Memorandum of Understanding for cooperation, extending the strong partnership between the companies. The agreement, which renews a partnership in place since 2011, furthers cooperation between Woodside and KOGAS in a number of areas. These include developing future business arrangements, knowledge sharing, staff secondments, joint technology studies and workshops. Woodside currently supplies LNG to KOGAS, primarily sourced from Pluto LNG. (Source: Woodside Energy announcement, 11/04/2016).

 

 

Developments

 

AWE Limited has lodged the final documents for environmental approval for the upgrade of its Xyris Production Facility in the Perth Basin to facilitate the first phase of the Waitsia gas field under its 30-month take-or-pay contract with Alinta Energy. AWE is seeking to develop a 484 bcf resource it owns with Origin Energy, and the first step in the development is to take the Senecio 3 and Waitsia 1 wells and link them back to the Xyris facility with the four-inch flowlines. The two wells will be connected to the existing Northern Hub manifold, where the gas will be put into a six-inch pipeline to transport the gas to plant. Gas produced through the facility can then be piped to Perth via the Parmelia pipeline. It should take 2-3 months to refurbish the plant. (Source: Energy News Premium, 15/03/2016).

 

Chevron Corporation has announced that its first shipment of liquefied natural gas from the Gorgon Project has departed Barrow Island off the northwest coast of Western Australia. The shipment is bound for Chubu Electric Power in Japan. The Gorgon Project is supplied from the Gorgon and Jansz-Io gas fields, located within the Greater Gorgon area, between 130 km and 220 km off the northwest coast of Western Australia. It includes a 15.6 mtpa LNG plant on Barrow Island, a carbon dioxide injection project and a domestic gas plant with the capacity to supply 300 TJ of gas per day to Western Australia. (Source: Chevron Corporation announcement, 21/03/2016).

 

Chevron Australia reported on 06/04/2016 that LNG production at the Gorgon Project has been temporarily halted due to mechanical issues with the propane refrigerant circuit on Train 1 at the plant site. The propane refrigerant circuit is a closed system used to cool gas supplied to the plant. Work necessary to complete the repairs is ongoing while the site team continues equipment inspection and assessment. A restart of the plant could take as long as 2 months. (Source: Oil & Gas Journal, 07/04/2016).

 

Advent Energy has signed a non-binding letter of intent with Northern Minerals for the future supply of gas for the full development of a proposed mine at Browns Range. The letter provides an initial framework for discussion, information sharing and negotiation towards a possible gas supply agreement. “This is an excellent development for Advent and its key onshore Bonaparte Basin assets EP 386 and RL 1 in the drive for their commercialisation,” Advent director David Breeze said. He said Browns Range had the potential to become a globally significant project. Advent has 2C contingent resource of 11.5 bcf in the Weaber gas field within RL 1, while EP 386 has recoverable prospective resource estimates range from 53.3 bcf to 1.326.3 bcf, with a best estimate of 355.9 bcf of gas. If developed, Browns Range has a projected 11-year life. (Source: MEC Resources announcement, 21/03/2016, Energy News Premium, 22/03/2016).

 

Woodside advises that following completion of front-end engineering and design (FEED) work, the Browse joint venture participants have decided not to progress with the development of the Browse FLNG Project off Western Australia. The joint venture was unable to justify development costs that could exceed $40 billion at this time considering the current economic and market environment. Woodside and the Browse joint venture participants now have 120 days to offer the West Australian and federal governments a revised work program and budget to progress development activities under the terms of the Browse retention leases. (Source: Woodside Petroleum announcement, 23/03/2016 and Energy News Premium, 24/03/2016).

The Gladstone LNG partners, led by Santos, have been granted approval to drill up to 6100 new wells in southern central Queensland by Commonwealth environment minister Greg Hunt. The approval, which will last for 50 years, also allows Santos to install all the necessary production infrastructure. The conditional approval requires the oiler protect threatened and migratory species, conduct pre-disturbance surveys and prepare species management plans, and organise offsets for the work. The approvals are an extension of the existing approved project to support GLNG and are aimed at ensuring sufficient gas is available to support the plant for 30 years. The gas will primarily come from the Arcadia, Fairview, Roma and Scotia fields. (Source: Energy News Bulletin, 29/03/2016).

 

The second PNG LNG Project custom-built ship was officially named in a ceremony at Hudong-Zhonghua Shipyard in Shanghai, China on 08/04/2016. The LNG carrier, named Kumul, was built by Hudong-Zhonghua Shipbuilding (Group) Co Ltd and can carry approximately 172,000 cubic metres of LNG. The Kumul, and her sister ship the Papua are the largest LNG ships of their size built in China. Kumul will be operated by Mitsui OSK Lines and transport gas associated with the PNG LNG project, Kumul is expected to arrive in Papua New Guinea in late May 2016. The addition of the Kumul, brings to four the number of dedicated carriers that will ship LNG from the PNG LNG Project to customers in Asia. The four ships are Spirit of Hela, Gigira Laitebo, Papua and Kumul. (Source: Energy News Bulletin, 12/04/2016).

 

 

Discoveries

 

Berylium 1 is the second of four near-field exploration wells to be drilled in the ex PEL 513 permit area in FY16. The drilling campaign is targeting the liquids-rich gas play area of the southern Patchawarra Trough, with prospects identified on the Jacenza 3D seismic survey. Berylium 1 intersected gas pay within the target Patchawarra Formation sandstones and was cased and suspended as a future producer. (Source: Beach Energy announcement, 06/04/2016).

 

Hanson 3, located in the central area of the Hanson Field, was drilled by Beach Energy to develop oil bearing reservoirs within the McKinlay Member and Namur Sandstone. The well also tested potential for reservoir development within the Birkhead Formation as a secondary target. Hanson 3 intersected a 3.7 m net oil column in the Namur Sandstone and a 2.8 m gross oil bearing interval in the overlapping McKinlay Member. Results were consistent with current mapping and potential for further development drilling in the field exists. (Source: Beach Energy announcement, 06/04/2016).

 

 Permit Changes

 

New South Wales

 

Gunnedah Basin

EnergyAustralia has withdrawn from PEL 434 and its interests have been distributed pro-rata to the remaining JV partners.  New interests are as follows - Santos NSW P/L 56.25% and Santos QNT P/L 43.75%.

 

Dart Energy (Apollo) P/L was acquired by a company associated by Mr Andrew Purcell and was renamed Hunter Gas P/L.  Hunter Gas P/L holds 20% of PEL 456.

Surat Basin

EnergyAustralia has withdrawn from PEL 428 (Coal Seam Gas interests) and its interests have been distributed pro-rata to the remaining JV partners.  New interests are as follows - Santos NSW (Betel) P/L 40.909%, Comet Ridge Gunnedah P/L 29.546% and Comet Ridge Ltd 29.545%.

Surat/Bowen Basin

EnergyAustralia has withdrawn from PEL 6 and its interests have been distributed pro-rata to the remaining JV partners.  New interests are as follows:

Conventional
Comet Ridge Ltd                       98.257%
Santos NSW (Betel) P/L               1.743%

Coal Seam Gas
Santos NSW (Betel) P/L             70.455%
Comet Ridge Ltd                       29.545%

Edendale Conventional
Comet Ridge Gunnedah P/L       96.486%
Santos NSW (Betel) P/L               3.514%

Edendale Coal Seam Gas
Santos NSW (Betel) P/L             73.469%
Comet Ridge Gunnedah P/L       26.531%

 

EnergyAustralia has withdrawn from PEL 427 (Coal Seam Gas interests) and its interests have been distributed pro-rata to the remaining JV partners.  New interests are as follows - Santos NSW (Betel) P/L 31.579%, Comet Ridge Gunnedah P/L 22.807%, Davidson Prospecting P/L (Comet Ridge) 22.807% and Comet Ridge Ltd 22.807%.

Sydney Basin

Dart Energy (Apollo) P/L was acquired by a company associated by Mr Andrew Purcell and was renamed Hunter Gas P/L.  Hunter Gas P/L holds 20% of PEL 458.

Northern Territory

 

Amadeus Basin

EP 156 expiry date has been extended to 06/11/2018.

Bonaparte Basin

The year 5 work program for NT/P 68 has been suspended by 3 months from 26/04/2016 to 26/07/2016. The licence has had its expiry date extended to 26/07/2016.

Georgina Basin

EP 127 has been renewed to 13/12/2020.

 

Applications EP(A) 213 and EP(A) 252 have been withdrawn.

Pedirka Basin

EP 97 expiry date has been extended to 22/06/2018.

Vulcan Sub Basin

The year 5 work program for AC/P 54 has been extended by 18 months from 07/07/2016 to 06/01/2018. The licence has had its expiry date extended to 06/01/2019 and a change to the work program has been approved -

Year 5 - 300 sq km 3D seismic reprocessing, QI & geotechnical studies, drilling planning $1.85m

Queensland

 

Bowen Basin

Total's 27.5% interest in PL 176 is held 20% by Total E&P Australia and 7.5% by Total E&P Australia II.

 

Triangle Energy (Global) Ltd holds 60% of PL 231 after acquiring Senex's interests, held by Senex Weribone P/L 25.6% and Victoria Oil P/L 14.4%.

Surat Basin

Total and Vamgas sold down their 50% interests in ATP 1187 to KGLNG E&P P/L 15% and PAPL (Upstream) P/L 27.5%.  Vamgas Ltd retains 30%, Total E&P Australia 20% and Total E&P Australia II 7.5%.

 

ATP 336 has been renewed as ATP 2017.  ATP 2017 was granted on 18/03/2016.  The licence will expire on 30/09/2019.

South Australia

 

Cooper Basin

PEL 93 has been suspended from 05/11/2016 to 04/11/2017.  The licence has had its expiry date extended to 04/11/2017.

Eromanga Basin

PEL 515 has been suspended from 26/03/2016 to 25/03/2017.  The licence has had its expiry date extended to 05/05/2020.

Otway Basin

PEL 494 has been suspended from 01/03/2016 to 28/02/2017.  The licence has had its expiry date extended to 23/03/2021.

Tasmania

 

Otway Basin

Toyota Tsusho Gas E&P Otway Ltd has withdrawn from T/30P and its interest has been acquired pro-rata by Origin Energy Resources Ltd and Benaris Exploration (Otway) P/L.  New interests are as follows - Origin Energy Resources Ltd 70.77% and Benaris Exploration (Otway) P/L 29.23%.

 

A suspension and extension application for T/49P was lodged with NOPTA on 15/03/2016.

Victoria

 

Gippsland Basin

Coal seam gas licences EL 5320 and EL 5321 expired on 06/04/2016.

 

Bridgeport’s interest in PEP 150 and PEP 151 is held by Bridgeport (Eromanga) P/L.

 

Armour and Lakes have an agreement whereby Lakes operates PEP 166 and PRL 2, even though Armour is operator on the title.

 

Mitsui E&P Australia P/L has acquired Santos' 50% interest in VIC/L 25 as part of its acquisition of the Kipper interests.  Santos reached agreement to sell its 35% non-operated interest in the Kipper gas field to Mitsui E&P Australia P/L for $520m.

 

Retention leases have been offered over VIC/L 26, VIC/L 27 and VIC/L 28 (Basker/Manta/Gummy).  Beach will withdraw at the end of the current permit year, with Cooper Energy Ltd retaining 100% of the licences.

Otway Basin

Bridgeport’s interest in PEP 150 and PEP 151 is held by Bridgeport (Eromanga) P/L.

 

Mosman’s subsidiary Trident Energy has withdrawn from VIC/P 62.  The withdrawal was finalised on 14/03/2016.  Loyz Oil Australia P/L now holds 100% of the licence.

Western Australia

 

Barrow Sub Basin

Tap Oil is divesting its interests in TL/2, TP/7, WA-22-L, WA-25-L, WA-290-P, WA-320-P, WA-33-R, WA-49-R and WA-516-P.

 

A suspension and extension was lodged for WA-290-P on 10/03/2016.

 

WA-43-R is being renewed.

 

Carnarvon Petroleum is no longer securing an interest in WA-486-P by mutual agreement with Quadrant Energy.

Browse Basin

The Year 4 work program for WA-285-P has been extended by 12 months from 08/04/2016 to 07/04/2017. The licence has had its expiry date extended to 07/04/2018. A change to work program has been approved –

Year 4 - G&G, seismic inversion & interpretation, 415 sq km 3D seismic & AVO analysis, 285 sq km ADF spectral attenuation & interpretation $1.83m

 

The Western Poseidon & North Poseidon location applications were lodged over WA-315-P on 11/04/2016.

 

WA-396-P and WA-397-P were relinquished on 11/04/2016.

 

The Southern Poseidon location application was lodged over WA-398-P on 11/04/2016.

Canning Basin

EP 129 has been renewed to 17/03/2021. Work program is as follows –

Year 1 - G&G studies $0.3m
Year 2 - 1 well $3m
Year 3 - G&G studies $0.3m
Year 4 - 150 km 2D seismic survey $1.5m
Year 5 - seismic interpretation, G&G studies $0.35m

 

EP 449 is being relinquished.

Carnarvon Basin

Fleet Resources has withdrawn application STP-EPA-124.

 

Carnarvon Petroleum is no longer securing an interest in TR/3 by mutual agreement with Quadrant Energy.

 

Carnarvon Petroleum will have 28.5% of WA-155-P (1) upon completion of the transaction with INPEX.

 

Tap Oil is divesting its interest in WA-155-P (2), WA-351-P and WA-515-P.

 

Santos and Quadrant Energy have been forced to accept $US25 million for the Stag oilfield WA-15-L, half the expected $50 million, due to the collapsing oil price.

 

Sappho and Olympus Extension location applications were lodged over WA-205-P on 18/03/2016.

 

The year 3 and 4 work program for WA-359-P has been suspended by 12 months to 25/04/2018. The licence has had its expiry date extended to 25/04/2018.

 

The Arnhem location application was lodged over WA-364-P on 07/04/2016.

 

The Kentish Knock South and Lympstone location applications were lodged over WA-365-P on 07/04/2016.

 

The Royal Oak location application was lodged over WA-367-P on 07/04/2016.

 

Retention lease applications were lodged for WA-374-P Eurytion Ext Location and WA-374-P Clio North Location on 31/03/2016. The Clio South location WA-374-P LS was revoked on 29/03/2016.

 

Location revocation was lodged for WA-383-P L on 14/03/2016.

 

A change to the WA-392-P work program has been approved –

Year 4 - geotechnical studies, 1000 sq km 3D seismic acquisition $5m
Year 5 - 1000 sq km PSDM seismic processing, geotechnical studies $2m

 

A change to the WA-412-P work program has been approved –

Years 1-3 - G&G studies, 80 sq km 3D seismic, 240 sq km 3D seismic reprocessing $1.3m

 

A retention lease application was lodged over WA-420-P L on 23/03/2016.

 

WA-42-R is being renewed.

 

The Vos Location WA-439-P L has been extended and now covers….sq km.

 

A location was declared over Chrysaor Extension WA-444-P L on 21/03/2016.

 

The year 4 work program for WA-476-P has been suspended by 12 months from 03/05/2016 to 03/05/2017. The licence has had its expiry date extended to 03/05/2019 and a change to the work program has been approved -

Year 4 - evaluation of rock properties, 675 sq km 3D seismic inversion, offset well analysis, interpretation of results $0.3m

 

WA-70-R was granted to Hess Exploration Australia P/L 100% on 30/03/2016. The licence will expire on 29/03/2021. Work program is as follows –

Year 1 - technical & marketing studies $4m
Year 2 - technical & marketing studies $2m
Year 3 - Equus development concept, marketing studies $1.9m
Year 4 - Equus development concept, marketing studies $0.5m
Year 5 - Equus development concept, marketing studies $0.5m

 

WA-71-R was granted to BHP Billiton Petroleum (Northwest Shelf) P/L 52.5%, Quadrant Northwest P/L 28.6% and KUFPEC (Perth) P/L 18.9% on 11/04/2016. The licence will expire on 10/04/2021. Work program is as follows - 

Years 1-5 - development concept evaluation, future technology evaluation, marketing $1m

 

WA-72-R was granted to BHP Billiton Petroleum (Northwest Shelf) P/L
55%, Quadrant Northwest P/L 25% and Tap (SCB) P/L 20 % on 11/04/2016. The licence will expire on 10/04/2021. Work program is as follows –

Years 1-5 - development concept evaluation, future technology evaluation, marketing $1m

Dampier Basin

WA-1-P has been renewed to 07/04/2021 over a reduced area of …sq km. Work program is as follows –

Years 1-3 - 80 sq km 3D seismic, rock physics studies, 3D inversion, QI & geotechnical studies $2.92m
Year 4 - geotechnical studies & QI reprocessing $0.5m
Year 5 - 1 well, geotechnical studies $25.5m

 

The Year 1 work program for WA-499-P has been extended by 9 months from 18/04/2016 to 16/01/2017. The licence has had its expiry date extended to 16/01/2022.

 

Tap Oil is divesting its interest in WA-8-L.

Perth Basin

CalEnergy now holds 83.7% of EP 408 and Whicher Ranger holds 16.3%.

 

EP 416 is being renewed.

 

The year 4 work program for EP 469 has been suspended by 12 months from 15/04/2016 to 15/04/2017. The licence has had its expiry date extended to 15/04/2019 and a change to the work program has been approved –

Year 4 - 1 well $15m
Year 5 - well stimulation, engineering studies $6.6m
Year 6 - field development $1.9m

 

Elixir and AWE are continuing to work towards the execution of an agreement for Elixir to acquire a 57.5% interest in Cliff Head WA-31-L.

Petrel Sub Basin

WA-313-P expired on 15/03/2016. The area has reverted to vacant acreage.

 

Tap Oil is divesting its interest in WA-34-R.

 

A retention lease application was lodged for WA-407-P L on 23/03/2016.

 

WA-40-R is being renewed.

 

W 14-1 was granted as WA-522-P to Woodside Energy Ltd 100% on 04/04/2016. The licence will expire on 03/04/2022. Work program is as follows –

Years 1-3 - geotechnical studies, 1586 sq km 3D seismic, PreSTM processing & QI studies $13.4m
Year 4 - 1500 sq km 3D seismic full waveform inversion $0.42m
Year 5 - geotechnical studies $0.5m
Year 6 - 1 well $18m

Roebuck Basin

WA-495-P was relinquished on 07/04/2016.

Rowley Basin

W 15-5 was granted as WA-521-P to Carnarvon Petroleum Ltd 100% on 29/03/2016. The licence will expire on 28/03/2022. The work program is as follows –

Years 1-3 - 4000 km 2D seismic reprocessing, multi-screen satellite images, well analysis, 150 km 2D seismic acoustic impedance inversion, G&G $1.32m
Year 4 - 3D seismic planning $0.12m
Year 5 - 300 sq km 3D seismic $3.3m
Year 6 - G&G studies $0.15m

New Zealand

 

East Coast Basin

PEP 57058 was relinquished on 06/04/2016.

Great South Basin

Offshore gazettal area 16GSC-R1 opened on 21/03/2016. Invitation for bids close on 07/09/2016.

Northland Basin

Offshore gazettal area 16RNR-R1 opened on 21/03/2016. Invitation for bids close on 07/09/2016.

Pegasus Basin

Offshore gazettal area 16PEC-R1 opened on 21/03/2016. Invitation for bids close on 07/09/2016.

Taranaki Basin

Offshore gazettal area 16TAR-R1 and onshore area 16TAR-R2 opened on 21/03/2016. Invitation for bids close on 07/09/2016.

 

Octanex withdrew from the PEP 51906 joint venture with effect from 31/10/2015. Once all approvals are signed off by New Zealand Petroleum & Minerals, OMV will hold 83.87% in the permit and New Zealand Oil & Gas will hold 16.13%.

 

PEP 52181 was relinquished 06/04/2016.

West Coast Basin

Application APP 60143 has been declined.

 

Mosman is seeking approval from NZP&M to amalgamate the Petroleum Creek PEP 38526 and Taramakau PEP 57067 permits.

Papua New Guinea

 

North New Guinea Basin

PPL 549 was granted to Rawson Resources Ltd 100% in March 2016 for 6 years.  Grant and expiry dates are yet to be confirmed.

Papuan Basin

Transform Exploration's interests in PPL 259, PPL 430 and PRL 28 are held by wholly-owned subsidiary Eaglewood Energy (BVI) Ltd.

 

Operator of PPL 277 is Esso PNG Exploration Ltd.

 

Larus Energy (PNG) Ltd has reached an in-principle agreement for a 5 year renewal of PPL 326.

 

The area of PPL 339 that is being renewed is currently being revised.

 

Oil Search is conducting a seismic program to finalise the acquisition of 100% of PPL 395 from Taurus Oil Ltd.  ExxonMobil has an option to acquire 50% from Oil Search.

 

Santos has a binding agreement to acquire 30% of PPL 426 from Talisman. Santos’ interest will be held by Barracuda Ltd.

 

Revised interests in the Great Moran Unit are as follows - Oil Search (PNG) Ltd 49.509%, Esso PNG Moran Ltd 20.247%, Eda Oil Ltd 11.275%, Merlin Petroleum Company 8.307%, Ampolex PNG Petroleum) Inc 5.109%, Petroleum Resources Kutubu Ltd 2.97%, Merlin Pacific Oil Company Ltd 1.279%, Petroleum Resources Moran Ltd 1.1%, Ampolex (Highlands) Ltd 0.184% and Petroleum Resources North West Moran Ltd 0.02%.

 

Revised interests in the SE Gobe Unit are as follows - Merlin Petroleum Company 39.092%, Oil Search (PNG) Ltd 22.337%, Southern Highlands Petroleum Co Ltd 18.79%, Ampolex (Highlands) Ltd 7.724%, Barracuda Ltd 7.451%, NPCP Oil Co P/L 2.606% and Petroleum Resources Gobe Ltd 2%.

Sepik Basin

PPL 258 has been relinquished.

Timor-Leste

 

Timor Basin

TL-SO-15-01 was granted to Timor Gap Offshore Block Unipessoal Ltd on 23/12/2015.  The licence will expire on 22/12/2022.

 

                                                                                                                                   

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