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August 2014


Monthly Update


The August 2014 GPinfo update is now available ...

Industry Summary

Armour Energy Ltd has received a 3C contingent resource estimate of 364 bcf of gas over a 64 sq km area around its Egilabria 2/DW1. The lateral well lies in the ATP 1087 permit in Queensland’s north ...

Permit Updates and Changes

In the New England Fold Belt and Lachlan Fold Belt, special prospecting applications PSPAPP 55 and PSPAPP 60 were withdrawn by the applicant ...
 


Monthly Update

The August 2014 GPinfo update is now available.

For assistance, please contact GPinfo Support on 02 9475 3500.

Company Groups

This month we have undertaken a review of company groups. Redundant groups have been removed and 17 new groups have been added.  The new definitions will be installed
automatically with the August monthly update.

Where a company has a number of subsidiaries, we define a company group so that the company and its subsidiaries can be referred to collectively, simply by referring to the group. We include in the group only subsidiaries where the shareholding is a minimum of 90%.

Groups provide a useful shortcut allowing you to identify all 9 Eni companies in a single click, for example.  However, as these company names all start with "Eni", identifying them individually wouldn't be too difficult.  The real benefit of groups is apparent when you need to identify subsidiaries which don't share a common name with the parent, such as in the case of Central Petroleum.

      
Eni group members           Central Petroleum group members

Use company groups in the following ways -

1.   Identify which companies are the members of a group via the Finder using the Category field -

    

2.   Query Permits where a company or one of its subsidiaries is operator by using Permits:OperatorGroup.

     

3.   Query Petroleum where a company or one of its subsidiaries is a participant by using Participants:Group.

      Specify more than one group if you wish.

     

If you have any questions,
please contact GPinfo support on +61 2 9475 3500 or e-mail to info@gpinfo.com.au.
 

Industry Summary

Company News
 

Armour Energy Ltd has received a 3C contingent resource estimate of 364 bcf of gas over a 64 sq km area around its Egilabria 2/DW1. The lateral well lies in the ATP 1087 permit in Queensland’s north, and was drilled in August 2013. The forward plan is to focus on sweet-spot definition and further evaluation of the Lawn Hill formation fairway, before continuing testing of an initial pilot well.  Furthermore, Armour Energy has entered a non-binding Memorandum of Understanding with MMG Century P/L to work together towards gas supply arrangements from Armour’s ATP 1107 and ATP 1087 licences to MMG’s Century Lawn Hill mine site. The mine site is located in Armour’s 100% owned ATP 1107 permit, lying adjacent to ATP 1087. (Source: Armour Energy announcement, 16/07/2014).

 

Chinese conglomerate Fosun International is competing in the bidding for Roc Oil, confirming speculation that Horizon Oil was not the only interested party. Fosun is offering 69c per Roc Oil share, this bid has been unanimously recommended by Roc’s board and values the off-market takeover offer above that of the proposed $800 million merger with Horizon. The offer price represents an implied market capitalisation of $474 million and comes with conditions, including the termination of the Horizon merger; more than a 50% acceptance of the new offer; no material change in the company and approval from the Foreign Investment Review Board. Horizon Oil has given notice to Roc to terminate the merger implementation agreement between Horizon and Roc. (Source: Roc Oil announcement, 04/08/2014, Horizon Oil announcement, 04/08/2014).

 

Lakes Oil has signed a letter of intent to supply Victorian gas to Dow Chemical (Australia) Limited for 10 years, despite the Victorian government’s moratorium on all onshore drilling in the state. The supply is subject to the execution of a formal supply agreement, final commercialisation of the Wombat field and the lifting of the State’s drilling ban. Lakes is of the opinion that when community consultation has been carried out across the State, it will be realised that its developments are in no way linked to coal seam gas. (Source: Lakes Oil announcement, 24/07/2014).

 

Magnum Hunter Resources Corporation has extended its takeover offer period for all the ordinary shares in Ambassador Oil & Gas to 22/08/2014. Drillsearch Energy has also extended its offer for all the ordinary shares in Ambassador that it does not already own to 27/08/2017. (Source: Ambassador Oil & Gas announcement, 18/07/2014, Drillsearch Energy announcement, 25/07/2014).

 

The Australian Takeovers Panel has upheld an application made to it by Magnum Hunter Resources in June, making a declaration of unacceptable circumstances in relation to a rival bid by Drillsearch for the acquisition of Ambassador Oil and Gas. Magnum Hunter made the claims based on the haste with which key shareholders, holding approximately 26.43% of Ambassador, accepted the Drillsearch offer. The panel found that shareholders Fotoula Hatziladas, Eye Investment, David Shaw and Giustino Guglielmo were associated with Drillsearch prior to their early acceptance of its bid and that they had acted contrary to their intention statements. The intention statements set out that the group must wait 14 days after the opening of Drillsearch’s offer before they accepted it. However, acceptances were made four days after opening. The panel ordered Drillsearch to dispatch a supplementary bidder’s statement in a form approved by the panel to Ambassador shareholders. Drillsearch must also ensure that its offer remains open for 21 days after the date on which its bidder’s statement is sent to shareholders. The shareholder group’s acceptances of the Drillsearch offer will be reversed and they will have to wait 14 days from the release of the supplementary bidder’s statement before deciding to accept again. Finally, former Ambassador shareholders who sold their shares as part of the pre-bid stake and all other shareholders who have accepted the Drillsearch offer have been given a withdrawal right, operative up to 14 days after the bidder’s statement. (Source: Australian Government Takeovers Panel announcement, 28/07/2014).

 

Woodside’s plan to buy back Shell’s shareholding in Woodside has failed to get investor approval. Woodside wanted to buy back 78.3 million shares currently held by Shell for US$2.68 billion. It needed 75% approval to proceed, 72% of the shareholders who voted were in favour of the buyback and 28% were against. A large portion of that 28% against was held by just four shareholders. The end result is Shell still has a 13.6% stake in Woodside. (Source: Woodside announcement, 01/08/2014, Energy News Premium, 01/08/2014).

 

The administrators placed in charge of Nexus Energy have been presented with few options in their bid to extract funds from the company to pay creditors. McGrathNicol called a second meeting of creditors on 11/08/2014, where the affected parties decided whether the company should be wound up, administration should end, or the company should accept a deed of company arrangement from former takeover suitor Seven Group Holdings. The meeting resolved that Nexus execute a deed of company arrangement offered by former takeover suitor Seven Group Holdings. Nexus must execute the deed within 15 business days. (Source: McGrathNicol announcement, 06/08/2014 & 12/08/2014).

 

The New South Wales Government has advised the Supreme Court of Western Australia that it has decided not to present evidence in its case against Metgasco and the suspension on drilling the Rosella exploration well. The government missed its 08/08/2014 deadline to produce evidence, claiming that key personnel were unavailable. Metgasco lodged its evidence in support of its claim on 28/07/2014. Metgasco will explore a range of other options to have the documents produced. The company has been advised that the hearing of the court case is now more likely to be in December rather than October due to the availability of judges. An expedited hearing is still being pursued. (Source: Metgasco announcement, 14/08/2014).


Apache Energy reported during its quarterly earnings statement that it would exit completely its holdings in the Wheatstone LNG project in Western Australia. In addition, Apache said it is now evaluating its holdings in other international assets and exploring multiple opportunities, including the potential separation of some or all of these assets through the capital markets.
In regards to Apache’s evaluation of its international assets, CEO Steven Farris admitted considering selling its entire WA gas business to appease dissident shareholders as part of his comments in the US. Apache is yet to provide a timetable on its Wheatstone and broader WA exit. (Source: Energy News Premium, 01/08/2014).

 

Developments

 

ExxonMobil’s PNG LNG Project is now producing at full capacity after the project was delivered ahead of schedule. The project has been ramping up since the first LNG shipment left for Tokyo Electric Power Co on board the Spirit of Hela tanker in May. The two-train facility has a production capacity of 6.9 million tonnes per year of LNG and is expected to produce more than 9 tcf of gas over its estimated 30 years of operations. It will provide a long-term supply of LNG to four major customers in the Asia region including China Petroleum and Chemical Corp (Sinopec), TEPCO, Osaka Gas and CPC Corp Taiwan. (Source: Energy News Bulletin, 29/07/2014).

 

AGL Energy has been granted approval from the New South Wales Office of Coal Seam Gas for its Waukivory pilot project to flow test gas at Gloucester. The company has also been granted an environment protection licence from the Environment Protection Authority. The approvals allow AGL to begin to fracture stimulate and flow-test four gas wells located within the Stage 1 area of the Gloucester Gas Project. Stage 1 has already been through a full environmental assessment and received approval from the independent NSW Planning Assessment Commission. That approval was upheld by the Land and Environment Court. Stage 1 is also the subject of Commonwealth approval. (Source: AGL announcement, 06/08/2014).

 

MEO Australia is offering a sale of equity in its Tassie Shoal Project offshore the Northern Territory and reports interest from various parties. UBS has been appointed as advisor to MEO to assist with conducting a formal process on the proposed methanol and LNG projects. The methanol project offers the opportunity to develop two 1.75 mtpa methanol plants with the potential to accept gas from nearby undeveloped resources with a carbon dioxide content of up to 30%. Linked to this is a 3 mtpa LNG facility which the company says may provide material cost savings relative to other LNG regional development options such as LNG processing at Darwin or floating LNG. (Source: MEO Australia announcement, 07/08/2014).

 

The BAM Clough joint venture has completed construction of the module offloading facility for the Inpex-led Ichthys LNG Project near Darwin. The module offloading facility, which was initially scheduled for completion in early 2014, is a key facility that will be used to offload modules being supplied under other subcontracts to assemble the Ichthys LNG plant. Inpex has also announced the Ichthys LNG Project’s dredging program in Darwin Harbour is officially complete. Harbour dredging, which began in August 2012, has ended, with more than 16 million cubic metres of rock and sand moved over the two years. The result is deep shipping channel and berthing area for large LNG, LPG and condensate carriers servicing processing facilities at Bladin Point. (Source: Energy News Premium, 30/07/2014 and 05/08/2014).

 

Origin Energy has reported that the Australia Pacific LNG Project is 75% complete. Origin CEO LNG David Baldwin advised, strong progress has been made on Australia Pacific LNG with the upstream component of the project approximately 76% complete and the downstream component approximately 75% complete at 30/06/2014. Australia Pacific LNG remains on track to deliver first LNG in mid-2015. (Source: Origin announcement, 31/07/2014).

Discoveries


Karoon Gas Australia Ltd reported that logging at its Pharos 1 exploration well indicated a gas charged Montara Formation sandstone reservoir. Karoon’s assessment shows a 53 metre gross interval with 34 meters net pay interpreted. The presence of movable hydrocarbons is supported by petrophysical log interpretation, formation pressure gradients and downhole gas sampling. Preparations for a production test will commence on the completion of the wireline logging program. (Source: Karoon Gas Australia announcement, 17/07/2014).

Beach Energy and Drillsearch have made another discovery in the Cooper Basin. The Balgowan 1 exploration well successfully intersected an oil bearing reservoir, with 3.5 metres of oil in the Namur Sandstone and five metres in the McKinlay Member. This confirms the extension of the oil fairway to the north east of recent discoveries in PEL 91. The well has been cased and suspended as a future oil producer. (Source: Beach Energy announcement, 13/08/2014).

 


Permit Updates and Changes

New South Wales

In the New England Fold Belt and Lachlan Fold Belt, special prospecting applications PSPAPP 55 and PSPAPP 60 were withdrawn by the applicant.
 


Northern Territory

In the Vulcan Sub Basin, AC 13-1 and AC 13-3 have reverted to vacant acreage.


On the Ashmore Platform, AC/P 22 was relinquished on 09/07/2014.

In the Bonaparte Basin, MEO has extended the notice dates under the NT/P 68 farm-in agreement for Eni to drill the second Heron well and the option for Eni to acquire 25% in the Blackwood area within the licence from 29/08/2014 to 28/10/2014.

In the Petrel Sub Basin, NT 13-5 was granted as NT/P 84 to Origin Energy Resources Ltd 50% operating interest and Santos Offshore P/L 50% on 03/07/2014. The licence will expire 02/07/2020. Work program is as follows –

Year 1: geochemistry, charge modeling and biostratigraphy studies $0.4m
Year 2: G&G studies, 1052 km seismic, 1700 km seismic reprocessing $4.1m
Year 3: seismic interpretation, G&G $0.5m
Year 4: G&G $0.4m
Year 5: G&G, 1 well $40.4m
Year 6: well evaluation $0.5m

In the Vulcan Sub Basin, AC/RL 1 has been renewed to 07/07/2019. Work program is as follows -

Year 1: G&G studies, FPU/FPSO study $0.1m
Year 2: MOPU study, oil/market cost review $0.04m
Year 3: technology and economic studies $0.07m
Year 4: subsea tie-back to third party facilities study, oil/market cost review $0.045m
Year 5: technology and economic studies $0.07m

In the Amadeus Basin, Santos has elected to proceed to stage 2 of an amended joint venture with Central Petroleum. An additional 300 km of seismic has been added to the current 1000 km of 2D in stage 2, with the whole 1300 km seismic costing approximately $12 million and earning Santos a 40% interest in the six permits covered by the joint venture - EP 82, EP 105, EP 106, EP 107, EP 112 and EP(A) 147.

In the Beetaloo Basin, EP 117 and EP 98 have undergone partial relinquishments and now cover 6,409 sq km and 10,316 sq km respectively.

In the Victoria River Basin, EP 305 has been granted to Pangaea (NT) P/L on 08/08/2014. The licence will expire 07/08/2019.

In the Beetaloo Basin, EP 76 has undergone a partial relinquishment and now covers 1,891 sq km.

In the Pedirka Basin, Central and Santos elected not to proceed as a joint venture in EP 93 and EP 97. Central has regained 100% in the permits.

In the McArthur Basin, a third gazettal area EPNT 14-3 has been released. Bids close 12/12/2014.

In the Amadeus Basin, L 7 has been granted to Central Petroleum (NT) P/L on 07/07/2014. The licence will expire 06/07/2039.

In the Amadeus Basin, Central Petroleum has regained 100% ownership of the Ooraminna Gas Discovery in RL 3 and RL 4.

 


Joint Petroleum Development Area

In the Joint Petroleum Development Area, JPDA 06-103 has been suspended to 15/10/2014 in order for the ANP to complete assessment of the joint venture application to terminate the PSC without penalty.
 


Queensland

In the Galilee Basin, Lakes Oil is in the process of acquiring EOIL P/L and its 100% interests in ATP 642 and ATP 662.

In the Galilee Basin, the work program for ATP 744 is as follows -

Year 1: data review, G&G
Year 2: 2 well/core holes (800m)
Year 3: 1 well/core hole (800m), 30 km 2D seismic
Year 4: data review
(01/11/2013 to 31/10/2019)

In the Eromanga Basin, Beach will fund 150 sq km of recently acquired 3D seismic and drill an initial exploration well to earn a 45% option to farmin to ATP 924.  Under the second phase, should Beach exercise the option, it will drill an additional exploration well and reimburse Drillsearch for past costs to earn 45%. Beach will operate the wells and Drillsearch will retain operatorship of the permit.

Also in the Eromanga Basin, Drillsearch Energy Ltd, preferred tenderer for ATP 956 and ATP 959, has withdrawn its applications.   A new preferred tenderer is yet to be decided for competing applications ATP 949, 950, 951, 952, 953, 954, 955, 957 and ATP 958, 960, 961, 962, 963, 964.

In the Galilee Basin, ATP 989 and ATP 1041 have been relinquished and now revert to vacant acreage.

Also in the Galilee Basin, Comet Ridge has elected not to complete Phase 2 which required another 2 wells to earn an additional interest in the Lake Galilee block of ATP 1015.  Comet Ridge’s equity remains at 20%.

In the Bowen Basin, the BG Group has withdrawn the following potential commercial area applications:   PCA 27 to PCA 33, PCA 90 to PCA 96 and PCA 102 to PCA 105.

The following potential commercial areas have been granted:

Licence            Basin              Grant Date       Expiry Date      Operator

PCA 77            
Surat Bowen     18/06/2014        17/06/2029        Bronco Energy P/L
PCA 78             Surat Bowen     18/06/2014        17/06/2029        Bronco Energy P/L
PCA 79             Surat Bowen     18/06/2014        17/06/2029        Bronco Energy P/L
PCA 85             Surat                26/06/2014        25/06/2029        Australia Pacific LNG P/L
PCA 108           Surat                26/6/2014          25/06/2029        Bronco Energy P/L
PCA 109           Surat                26/6/2014          25/06/2029        Bronco Energy P/L
PCA 110           Bowen              26/6/2014          25/06/2029        Santos TOGA P/L
PCA 111           Bowen              26/6/2014          25/06/2029        Santos TOGA P/L         
PCA 112           Bowen              26/6/2014          25/06/2029        Santos TOGA P/L
PCA 113           Bowen              26/6/2014          25/06/2029        Santos TOGA P/L

In the Bowen Basin, Chelsea Oil Australia has sought an extension until October 2014 to settle the acquisition of 50% of PL 280 from Brisbane Petroleum Ltd.

In the Surat Bowen Basin, PL 505 and PL 506 were granted to BG International (Aus) Ltd Partnership 73.75%, CNOOC Coal Seam Gas Co P/L 25% and Tokyo Gas QCLNG P/L 1.25% on 14/07/2014. The licences will expire on 13/07/2044.  ATP 852 has undergone a partial relinquishment as a result of the grant of the two production licences.
 


South Australia

In the Ceduna Basin, Chevron Australia New Ventures P/L has transferred its interest in EPP 44 and EPP 45 to Chevron Australia (EPP44) P/L and Chevron Australia (EPP45) P/L respectively.

In the Cooper Basin, the work program for PEL 101 has been extended by 6 months from 23/06/2014 to 22/12/2014. The licence has had its expiry date extended to 29/04/2016.

In the Arckaringa Basin, the work program for PEL 123 has been extended by 6 months from 02/10/2014 to 01/04/2015. The licence has had its expiry date extended to 01/04/2015.

In the Adelaide Fold Belt, PEL 145 is being relinquished.

In the Otway Basin, Rawson Resources is proceeding with a shortlist of companies wishing to farm into its Otway Basin acreage after it closed its data room for the PEL 154 and PEL 155 licences.

In the Cooper Basin, the work program for PEL 570 has been extended by 6 months from 30/06/2014 to 29/12/2014. The licence has had its expiry date extended to 07/03/2019.

In the Eromanga Basin, the work program for PEL 87 has been extended by 12 months from 09/07/2014 to 08/07/2015. The licence has had its expiry date extended to 08/07/2016.

In the Eromanga Basin, Greenpower Energy is withdrawing from application PELA 146.

In the Adelaide Fold Belt, application PELA 582 has been varied and now covers an increased area of 9,466 sq km.

In the Eromanga Basin, ARP TriEnergy P/L has applied for PELA 643 and PELA 644 over 5,828 sq km and 8,924 sq km respectively.

In the Cooper Basin, Victoria Oil Exploration (1977) P/L 40%, Impress (Cooper Basin) P/L 25%, Permian Oil P/L 20% and Springfield Oil & Gas P/L 15% have applied for PPLA 258 over 8 sq km.

In the Cooper Basin, the PRL 17 work program has been extended by 3 months from 28/01/2015 to 28/04/2015. The licence has had its expiry date extended to 28/04/2015.

Geothermal

In the Adelaide Fold Belt, GEL 486 has been renewed to 28/05/2019 over a reduced area of 1,946 sq km. Work program is as follows –

Year 1: G&G studies
Year 2: drilling 5 sites
Year 3: G&G studies
Year 4: 2 thermal gradient holes
Year 5: deepen 1 thermal gradient hole, G&G studies
 


Tasmania

Offshore in the Bass Basin, Prize Petroleum’s acquisition of 9.75% of T/18P and 11.25% of T/L1 from AWE was due to be completed in the June quarter.  In addition, AWE Petroleum P/L has signed agreements to acquire 5% of T/18P from Acer Energy Ltd, increasing is equity to 40%.

Geothermal

Onshore Tasmania, SEL 26/2005 is in the process of being relinquished.
 


Victoria

Offshore in the Gippsland Basin, a suspension and extension application for VIC/P 41 was lodged with NOPTA on 24/07/2014.

Also in the Gippsland Basin, a 3D Oil Ltd shareholder meeting held on 11/08/2014 approved the sale and purchase agreement between 3D and Carnarvon Hibiscus P/L in relation to VIC/L 31 and VIC/P 57. Subsequently, Carnarvon Hibiscus P/L exercised its option to acquire the remaining 49.9% of VIC/L 31 from 3D Oil for US$14.05 million.  In addition, Carnarvon Hibiscus will acquire a further 5% of VIC/P 57 from 3D Oil whilst Hirex has an option to acquire 20% of VIC/P 57 from 3D Oil.  The deal remains subject to approval by NOPTA.

In the Otway Basin, AWE has until 24/10/2014 to review the recently acquired seismic data report and to elect to take up its option to become operator of VIC/P 67.

Onshore in the Otway Basin, Lake’s interest in PEP 167 and PEP 175 is held by Mirboo Ridge P/L
.
 


Western Australia

In the Browse Basin, W 13-1 has reverted to vacant acreage.

In the Barrow Basin, the year 3 & 4 work programs for WA-192-P have been extended by 12 months to 11/05/2015. The licence has had its expiry date extended to 11/05/2016.

In the Dampier Basin, the year 5 work program for WA-1-P has been extended by 6 months from 29/01/2015 to 28/07/2015. The licence has had its expiry date extended to 28/07/2015. The year 5 work program has been varied and is now - geotechnical studies, 70 sq km 3D seismic $2.26m.

In the Carnarvon Basin, the year 4 work program for WA-202-P has been extended by 6 months from 03/08/2014 to 02/02/2015. The licence has had its expiry date extended to 02/02/2016.

Also in the Carnarvon Basin, WA-208-P has been renewed to 28/07/2019 over a reduced area of 324 sq km. Work program is as follows –

Year 1: 80 sq km 3D seismic $2.1m
Year 2: seismic interpretation & seismic stratigraphy study $0.55m
Year 3: QI studies & prospectivity mapping $0.55m
Year 4: 1 well $20m
Year 5: G&G studies $0.4m

In the Carnarvon Basin, WA-255-P has been renewed to 03/08/2019 over a reduced area of 801 sq km. Work program is as follows –

Year 1: geotechnical studies $0.8m
Year 2: 800 sq km 3D PSDM reprocessing $2.8m
Year 3: geotechnical studies $1.8m
Year 4: geotechnical studies $1.8m
Year 5: 1 well $35m

In the Carnarvon Basin, WA-269-P was relinquished on 03/07/2014. The area reverts to vacant acreage.

In the Browse Basin, WA-275-P was relinquished on 11/08/2014. The area reverts to vacant acreage.

In the Browse Basin, the year 4 work program for WA-285-P has been extended by 9 months from 07/07/2014 to 07/04/2015. The licence has had its expiry date extended to 07/04/2016. The year 4 work program has been varied and is now - geotechnical studies, seismic inversion & interpretation $1m.

In the Browse Basin, WA-302-P was relinquished on 09/07/2014.

In the Browse Basin, ConocoPhillips has withdrawn from WA-314-P. Karoon acquired ConocoPhillips’ 10% interest.

In the Browse Basin, WA-342-P and WA-344-P are being relinquished.

In the Carnarvon Basin, the North Scarborough location WA-346-P LS has been extended and now covers 324 sq km.

In the Carnarvon Basin, the Scarborough Extension Location WA-383-P L has had its expiry date extended to 30/08/2016.

In the Carnarvon Basin, the year 6 work program for WA-390-P has been extended by 12 months from 06/08/2014 to 05/08/2015. The licence has had its expiry date extended to 05/08/2015. The year 6 work program has been varied and is now - 3142 sq km PSDM seismic reprocessing $3.7m.

In the Carnarvon Basin, WA-399-P was relinquished on 07/07/2014.

In the Browse Basin, location WA-410-P L has been granted over Argus on 10/07/2014.

In the Bonaparte Basin, WA-422-P was relinquished on 10/07/2014. The area reverts to vacant acreage.

In the Barrow Basin, WA-426-P was relinquished on 07/07/2014. The area reverts to vacant acreage.

In the Carnarvon Basin, the year 5 work program for WA-434-P has been extended by 12 months from 24/07/2014 to 23/07/2015. The licence has had its expiry date extended to 23/07/2016. The year 5 work program has been varied and is now - geotechnical studies & development feasibility studies $0.75m.

In the Canning Basin, the year 5 work program for WA-435-P has been extended by 3 months from 04/08/2014 to 03/11/2014. The licence has had its expiry date extended to 03/11/2015.

In the Canning Basin, the year 6 work program for WA-436-P has been varied and is now – 400 sq km 3D seismic, 3 well fluid inclusion stratigraphy analysis, G&G $0.5m.

In the Canning Basin, the year 5 work program for WA-437-P has been extended by 6 months from 04/08/2014 to 03/02/2015. The licence has had its expiry date extended to 03/02/2016.

In the Canning Basin, the year 6 work program for WA-438-P has been varied and is now - 1000 km 2D seismic reprocessing, 4 well fluid inclusion stratigraphy analysis, G&G, $0.51m.

In the Carnarvon Basin, WA-445-P was relinquished on 07/07/2014. The area reverts to vacant acreage.

In the Barrow Basin, WA-453-P was relinquished on 15/07/2014. The area reverts to vacant acreage.

In the Dampier Basin, the year 2 work program for WA-457-P and WA-458-P has been extended by 12 months from 07/07/2014 to 06/07/2015. The licenses have had their expiry date extended to 06/07/2018.

In the Carnarvon Basin, the year 1 work program for WA-496-P has been varied and is now - 840 sq km 3D seismic, G&G studies $4.3m.

In the Dampier Basin, Carnarvon Petroleum Ltd has transferred its100% interest in WA-501-P to Apache Northwest P/L.

In the Perth Basin, DR 11 expired 4/06/2014. The area reverts to vacant acreage.

In the Canning Basin, EP 371 has been renewed to 30/07/2019. Work program is as follows -

Year 1: well stimulation $8m
Year 2: 1 well $8m
Year 3: geological & geophysical studies $2m
Year 4: 100 km 2D seismic $1m
Year 5: 1 well $8m

In the Perth Basin, EP 407 expired on 13/12/2012. The area reverts to vacant acreage.

In the Canning Basin, EP 428 has been renewed to 30/07/2019. Work program is as follows -

Year 1: 200 km 2D seismic $2m
Year 2: 1 well $8m
Year 3: geological & geophysical studies $0.2m
Year 4: 100 km 2D seismic $1m
Year 5: 1 well $8m

In the Perth Basin, EP 430 has been renewed to 06/08/2019. Work program is as follows -

Year 1: seismic interpretation $0.1m
Year 2: geotechnical studies $0.1m
Year 3: 1 well $2.5m
Year 4: geotechnical studies $0.1m
Year 5: 50 km 2D seismic $1m

In the Canning Basin, EP 431 has been renewed to 30/07/2019. Work program is as follows –

Year 1: 150 km seismic $1.5m
Year 2: re-entry well $3m
Year 3: geological & geophysical studies $0.2m
Year 4: 100 km 2D seismic $1m
Year 5: 1 well $8m

In the Canning Basin, EP 436 has been renewed to 30/07/2019. Work program is as follows –

Year 1: well stimulation $8m
Year 2: 200 km 2D seismic $2m
Year 3: geological & geophysical studies $0.2m
Year 4: 100 km 2D seismic $1m
Year 5: 1 well $8m

In the Perth Basin, UIL Energy has elected not to continue with the purchase of Greenpower Energy’s remaining 50% interest in EP 447 and not exercise farm-in rights. UIL and Greenpower will continue as joint venture partners with 50% interest each, UIL will be appointed operator.

In the Perth Basin, EP 454 expired 25/05/2014. The area reverts to vacant acreage.

In the Perth Basin, the year 3 work program for EP 469 has been extended by 12 months from 15/04/2014 to 15/04/2015. The licence has had its expiry date extended to 15/04/2018. Work program is now -

Year 1: geotechnical studies, 22 km 2D seismic reprocessing $0.2m
Year 2: engineering & geotechnical studies $1m
Year 3: engineering studies, 80 sq km 3D seismic $5.5m
Year 4: engineering studies, 1 well, 250 sq km 3D seismic $31.4m
Year 5: 1 well $20m
Year 6: field development $3.75m

In the Canning Basin, Oil Basins' application to the Western Australian State Administrative Tribunal to have Backreef Oil removed from the title of its EP 487 permit in the Derby Block has been expedited. The company is chasing Backreef Oil for costs relating to a recent flora and fauna survey in the block, as well as a farm-out agreement with Octanex, announced last year. A full hearing will occur on 18/09/2014.

In the Carnarvon Basin, L 13-2 has been proposed for re-release in September 2014. Bids close 23/04/2015.

In the Officer Basin, L 14-10, L 14-7, L 14-8 and L 14-9 have been proposed for release in September 2014. Bids close 23/04/2015.

In the Canning Basin, L 14-3, L 14-4, L 14-5 and L 14-6 have been proposed for release in September 2014. Bids close 23/04/2015.

In the Carnarvon Basin, application STP-EPA-127 has been varied and now covers a reduced area of 9,767 sq km.

In the Kimberley Basin, SPA 10 AO, SPA 11 AO and SPA 12 AO are now under application as STP-EPA-128, STP-EPA-129 and STP-EPA-130 respectively.

Geothermal

In the Perth Basin, GEP 5 and GEP 6 are being relinquished.
 


New Zealand

In the Canterbury Basin, PEP 38264 has been renewed to 07/11/2021. Work program is as follows -

12 months: 1387 km 2D seismic reprocessing, 1000 km 2D seismic
36 months: 1000 km 2D seismic
60 months: 2000 km 2D seismic
78 months: 2000 km 2D seismic reprocessing
91 months: 1 well
102 months: 4000 km 2D seismic, 3500 sq km 3D seismic
125 months: 1 well
132 months: 1 well
180 months: 1 well

In the Taranaki Basin, PEP 51150 has been reduced in area due to the grant of PMP 55491. PEP 51150 now covers 188 sq km.

In the Taranaki Basin, PMP 55491 has been granted to Taranaki Ventures Ltd 100% on 28/07/2014. The licence will expire 27/07/2022.
 


Papua New Guinea

In the Papuan Basin, New Guinea Energy and Santos reached agreement on 13/02/2014 for Barracuda Ltd to acquire 50% of PPL 269 from Kirkland.  Initial conditions have been satisfied and completion remains conditional on certain PNG approvals which are expected by 13/08/2015.  Payment of $32 million cash will be made on completion.

In the Papuan Basin, Oil Search (PNG) Ltd has reached conditional agreement to acquire 100% of PPL 402 from Strike Oil (PNG) Ltd.

Also in the Papuan Basin, PPL 464 was granted to Esso PNG Swift 50% (operator) and Oil Search (PNG) Ltd 50% on 16/06/2014. The licence will expire on 15/06/2020.

In the Papuan Basin, PDL 10 was granted on 30/5/2014 for 25 years.  The licence will expire 29/05/2039.  Talisman Energy Niugini Ltd has assumed operatorship.
 


For more information please contact GPinfo support on +61 2 9475 3500 or e-mail to info@gpinfo.com.au.

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