December 2012



Monthly Update
The December 2012 data update is now available ...

GPinfo 5.6.19
The December update includes a new version of the GPinfo program.  GPinfo 5.6.19 will be installed automatically along with the monthly data update and it provides a range of new data features ...

Industry Summary
WestSide has received another indicative, conditional, non-binding and confidential proposal from a party which has conducted extensive due diligence on the Company. This proposal involves the acquisition of 100% ...

Permit Updates and Changes
In the Gloucester Basin, PEL 4 has undergone a partial relinquishment and now covers a reduced area ...

 


Monthly Update

The December 2012 GPinfo update is now available.

Christmas Office Closure

Please note that our offices will be closed for the Christmas holiday for 2 weeks from Monday 24 December to Friday 4 January inclusive, opening again on Monday 7 January.  There will be no GPinfo support available during this period.

Best wishes for a happy and safe Christmas to you and yours from the GPinfo team.
 


GPinfo 5.6.19

The December update includes a new version of the GPinfo program. 

This is an essential software update.

GPinfo 5.6.19 will be installed automatically along with the monthly data update and it provides a range of new data features.

New Features

  1. The Permits layer now includes permits of all resource types - Petroleum, Geothermal and Sequestration, and not just Petroleum as was previously the case. Please see Important note on saved Queries below.

  2. A new layer called Petroleum has been added to the PERMITS group which includes Petroleum permits only. This is the replacement for the old Permits layer.

  3. Work Program information is now available for Geothermal and Sequestration permits (75 new records).  Until now, Work Program information has only been available for Petroleum permits.

  4. Geothermal and Sequestration permits are now also available in the History Module, both as Key Events and History Summary Reports (1,500 new records). This will be fully implemented with the release of the December History Module update in the coming days. (The History Module is an optional GPinfo extra).

  5. Company Permits have been extended to include Geothermal and Sequestration permits.  When you display a Geothermal or Sequestration company, you will see a list of all permits in which the company has an interest.  Previously this was only the case for Petroleum companies and permits.

  6. The well symbol library has been extended to include new symbols for Geothermal wells (70 new records).  We have adopted Geothermal symbols designed by South Australia's DMITRE and we thank them for their assistance.  (PlotSymbol code shown in brackets).

  7. The Wells-in-Permit list has been amended to display a list of all wells within all permits, regardless of well or permit resource.  Previously a partial list was returned where permits overlapped, and also geothermal wells and geothermal/sequestration permits were not included.  For example, the list below shows all wells that lie within the boundary of conventional exploration permit PEL 218 in South Australia. It includes conventional and geothermal wells.

  8. A Well-Permits list has been added which shows all permits within which a well location currently falls. This is to allow for overlapping permits, where a well might exist within multiple permit boundaries.  Previously a well could only be associated with a single permit. For example, the list below shows the permits which overlap the location for 2009 geothermal well Savina 1 in South Australia.

  9. The Theme Layers have been revised. Theme layers are colour-coded representations of existing data layers, and are named after the data layer on which they are based. Revised layers are as follows -
     
    Base Layer Theme Layer
    Permits Permits by Operator Group
    Permits Permits by Resource
    Petroleum Petroleum by Expiry Date
    Petroleum Petroleum by Status
    Petroleum Petroleum by Type
    Wells Wells by Resource

Important note on saved Queries

Permit queries which you have saved in previous sessions might now return additional results. They are not incorrect in terms of the logic of the query, but as they are now based on an extended dataset they might find additional records that satisfy the query definition.

Previous queries based on the Permits layer were restricted to Petroleum permits only.  Now the Permits layer has been extended to include Geothermal and Sequestration permits as well as Petroleum, to return the same results as before, you will need to edit your query to limit the selection to Resource = Petroleum. 

On the other hand, the new results might suit very well.  For example, if you want to see all the energy resources that a company participates in, you might want to know that they are involved in Geothermal and Sequestration permits as well as Petroleum.

Underlying Tables

Underlying Permits tables or queries in the GPinfo database are as follows -
 
GDPermits All permits - Petroleum, Geothermal and Sequestration
GDPermitsPetroleum Petroleum permits only - subset of GDPermits
GDPermitsGeothermal Geothermal permits only - subset of GDPermits
GDPermitsSequestration Sequestration permits only - subset of GDPermits

Can't see the new data?

Correct display of the new data structure requires a modification to your GPinfo configuration file.  This should happen automatically the first time you start a GPinfo session after the December update has been installed.

If the December update has been installed but the new structure has not been applied, you can force GPinfo to make the required structural changes by selecting View > Options > Updates and clicking on the Update GPinfo system layers now button.

For assistance, please contact GPinfo support.

 


Industry Summary

Company News

WestSide
has received another indicative, conditional, non-binding and confidential proposal from a party which has conducted extensive due diligence on the Company. This proposal involves the acquisition of 100% of the shares in WestSide for cash consideration of 52 cents per share. In February 2012, WestSide received an offer from LNG Ltd to acquire all the shares in WestSide. However, LNG has confirmed this latest bid was not made by them. (Source: WestSide announcement, 20/11/2012, LNG announcement, 21/11/2012).

The Board of Moby Oil & Gas Ltd has proposed that the Company be divided into two companies, these are Moby Oil & Gas Ltd and Enegex NL. Enegex is a new subsidiary of Moby, proposed to be owned primarily by non-Albers associated shareholders approx 88.56%, while Albers would hold 11.46%. Moby would become wholly owned by Mr Albers and associates and delisted from the ASX with Enegex being listed instead. As part of the proposals, the assets of Moby will be divided on an equitable basis between the two companies. Enegex is to acquire 67% of Moby’s interest in WA-342-P and 55% of Moby’s interest in WA-409-P, VIC/P 41 and VIC/P 47 after the schemes of arrangement come into effect. (Source: Moby Oil & Gas announcement, 28/11/2012).


Buru Energy Ltd and Alcoa of Australia have agreed to a further two year extension of their Gas Supply Agreement. Buru now has until 01/01/2015 to establish sufficient reserves to supply gas to Alcoa under the agreement. The extension provides Buru with additional time to appraise and prove up gas reserves in the Canning Basin, including the Yulleroo Field, the Valhalla Accumulation and the wide Laurel Formation Basin Centred Gas Accumulation. In the event Buru does not prove up sufficient reserves to supply gas under the agreement, Buru will have to pay back the $40 million in three tranches. (Source: Buru Energy announcement, 29/11/2012).

Geoscience Australia has released new pre-competitive data that will contribute to Australia's efforts to accelerate the development of Carbon Capture and Storage (CCS) technology, which will help reduce Australia's greenhouse gas emissions. Geoscience Australia will use the new data, collected in the Petrel Sub-basin offshore from the Northern Territory, to assess the CO2 storage potential of the basin. The results of this assessment, including the associated geological reports, will be available mid-2013. (Source: Minister for Resources and Energy announcement, 07/12/2012).

CWH Resources has signed a non-binding Heads of Agreement with Tangiers Petroleum Ltd to farm-in to Petrel Sub-basin permits NT/P 81 and WA-442-P. Under the proposal CWH will fund $35 million in exploration activities to earn 70% and become operator in each permit, leaving Tangiers with 27% and Ansbachall P/L with 3%. The proposal is subject to a definitive agreement being reached. (Source: Tangiers Petroleum Ltd announcement, 03/12/2012).

Developments

The Western Australian government has granted environmental approval to Woodside’s Browse LNG precinct at James Price Point in the Kimberley. The final approval includes strengthened protection for marine animals, monsoon vine thickets and dinosaur tracks, along with the requirement for comprehensive air pollution and oil spill plans. The Browse LNG project is yet to receive state heritage and planning approval and federal environmental approval. (Source: Energy News Premium, 20/11/2012).

Liquefied Natural Gas Limited has advised that Gladstone Ports Corporation has granted a 12 month extension in the term of the Agreement for Lease of the Fisherman’s Landing LNG project site to 31 December 2013, The full 12 month extension is subject to the Company’s written confirmation, by 30 June 2013, of access to gas supply and execution of a commercial tolling agreement with PetroChina International Investments (Australia) Pty Ltd. (Source: LNG Ltd announcement, 03/12/2012).

Liquefied Natural Gas Limited has advised that Gladstone Ports Corporation has granted a 12 month extension in the term of the Agreement for Lease of the Fisherman’s Landing LNG project site to 31 December 2013, The full 12 month extension is subject to the Company’s written confirmation, by 30 June 2013, of access to gas supply and execution of a commercial tolling agreement with PetroChina International Investments (Australia) Pty Ltd. (Source: LNG Ltd announcement, 03/12/2012)
.

Discoveries

Senex Energy is pleased to advise that successful exploration on the western flank of the Cooper Basin has confirmed the discovery of a new oil field at Spitfire 2. Wireline logs confirmed the presence of a gross oil column of nearly seven metres in the Birkhead Formation with interpreted net oil pay of 6.5 metres. The well has been cased and suspended as a future oil producer. (Source: Senex Energy announcement, 28/11/2012).

Comet Ridge is pleased to announce that Cernan 1 drilled in the ATP 1015P farm-in area in Central Queensland has been cased and suspended as a potential future production well. Comet Ridge has advised a net coal thickness of 20.6 metres has been intersected with results showing significant coal and easterly extension of the Gunn Project Area. Completion of Cernan 1, the third and final well in the 2012 Galilee Basin program, has given Comet Ridge a 20% equity stake in the project. (Source: Comet Ridge announcement, 26/11/2012).

Senex Energy’s Kingston Rule 1 well in PEL 115 of the Cooper Basin will be cased and suspended for fracture stimulation and production testing after intersecting 53 metres of net gas pay. Wireline logs indicate the well intersected nine metres of net gas pay in the Epsilon Formation and 44 metres of net gas pay in the Patchawarra Formation. It also intersected 84 metres of shale in the Roseneath, 66 metres of shale in the Murteree and nearly 20 metres of gas charged coal in the Patchawarra. (Source: Senex Energy announcement, 29/11/2012).

Beach Energy is pleased to announce a new oil discovery at Pennington 1 in the western flank of the Cooper Basin. The well encountered a 5 metre gross oil column in the McKinlay Sandstone, which Beach said was contiguous with a net oil column of 8 metres in the Namur Sandstone and a separate 6 metre oil column in the mid-Namur Sandstone. Wireline logs indicate that pre-drill estimates have been exceeded and appear to be in excess of two million barrels of recoverable oil.  The well will be cased and suspended as a future producer. (Source: Beach Energy announcement, 03/12/2012)
.
 


Permit Updates and Changes

New South Wales

In the Gloucester Basin, PEL 4 has undergone a partial relinquishment and now covers a reduced area of 3,844 sq km.

In the Gunnedah Basin, PEL 456 was renewed to 04/03/2017 over a reduced area of 5,018 sq km.  Work program (04/03/2012 to 04/03/2014) is as follows -

Year 1: walkaway VSP, 1 well, G&G, engineering & planning $1.95m
Year 2: 1 well, G&G, engineering & planning $1.7m

In the Clarence/Moreton Basin, PEL 478 and PEL 479 are in the process of being renewed.

In the Murray Basin, the NSW Aboriginal Land Council has applied for PELA 144 over 4,690 sq km
.


Northern Territory

In the Vulcan Sub-basin, Cosmo Oil Ashmore Ltd has transferred their interest in AC/P 17 to PTTEP Australia Timor Sea P/L. Additionally, the Year 4 work program has been varied to - 65 sq km 3D seismic - $5m.

On the Ashmore Platform, the Year 4 and Year 5 work programs for AC/P 22 have been swapped.

In the Browse Basin in September 2012, Murphy Australia Oil transferred 8.59% and Murphy Australia AC/P 36 transferred 41.41% in AC/P 36 to INPEX Browse, leaving INPEX Browse with 50% and Murphy Australia Oil with 50%.

On the Ashmore Platform, the Year 2 and Year 3 work programs for AC/P 47 have been suspended by 9 months. Licence will expire on 02/01/2016.

In the Beetaloo Basin, 12 month suspension periods have been granted on the Year 5 work programs for EP 117, EP 76, EP 98 and EP 99. Year 5 has been extended from 31/12/2012 to 31/12/2013 with the licences expiring on 31/12/2013.

In the Amadeus Basin, a 12 month suspension period has been granted on the Year 5 work program for EP 125. Year 5 has been extended from 06/12/2012 to 06/12/2013 with the licence expiring on 06/12/2013.

In the Bonaparte Basin, a 12 month suspension period has been granted on the Year 5 work program for NT/P 48. Year 5 has been extended from 25/12/2012 to 24/12/2013 with the licence expiring on 24/12/2013.

In the Petrel Sub Basin, interests in NT/P 80 are held by Murphy Oil Corp’s subsidiary Murphy Australia NT/P 80 Oil P/L 100%.


Queensland

In the Eromanga Basin, ATP 587P has been relinquished and now reverts to vacant acreage.

In the Surat Basin, ATP 689P has been renewed to 30/11/2017.

In the Clarence/Moreton Basin, ATP 746P was granted to Arrow Energy on 30/11/2012.  Licence will expire on 30/11/2016.

In the Surat/Bowen Basin, ATP 767P was renewed to 30/06/2012.

In the Bowen Basin, ATP 768P has undergone a partial relinquishment and now covers a reduced area of 1,086 sq km.

In the Bowen Basin, Bow Energy withdrew their application to renew ATP 807P. The licence has expired and reverts to vacant acreage.

In the Surat/Bowen Basin, ATP 840P was renewed to 28/02/2019.

Also in the Surat/Bowen Basin, ATP 901P has undergone a partial relinquishment and now covers a reduced area of 1,667 sq km.

In the Galilee Basin, Comet Ridge has earned 20% of the Lake Galilee area of ATP 1015P by completing Phase 1 of the farm-in through the drilling Schmitt 1 and Cernan 1.

In the Bowen Basin, ATP 1101P was granted to BG International (Aus) P/L on 28/11/2012. The licence will expire on 30/11/2016.  Overlapping applications ATP 1009P, ATP 1100P and ATP 1102P have been refused.

In the Surat Basin, PCA 12 has had its application area varied and now covers a reduced area of 76 sq km
.


South Australia

In the Ceduna Basin, BP Exploration (Alpha) Ltd has transferred its interests in EPP 37, EPP 38, EPP 39 and EPP 40 to BP Developments Australia P/L.

In the Duntroon Basin, a 12 month suspension period has been granted on the Year 1 work program for EPP 41. Year 1 has been extended from 07/07/2012 to 06/07/2013. Licence will expire on 06/07/2018.

In the Cooper Basin, Ambassador Oil & Gas has terminated its farm-in with Senex Energy for 50% interest in the Zulu block in PEL 113.

Geothermal

In the Otway Basin, a 12 month suspension period has been granted on the GEL 214 work program. The licence is in suspension from 02/11/2012 to 01/11/2013. Licence will expire on 31/10/2018.

In the Gawler Block and Pirie-Torrens Basin, GEL 244, GEL 245, GEL 246, GEL 247 and GEL 248 have expired without renewal.

In the Adelaide Fold Belt, GEL 337, GEL 523 and GEL 525 were surrendered.

In the Otway Basin, a 12 month suspension period has been granted on the GEL 498 work program. The licence is in suspension from 01/11/2012 to 31/10/2013. Licence will expire on 31/10/2016.


Victoria

Onshore, in the Gippsland Basin, applications for gazettal areas VIC/O 12-1 and VIC/O 12-2 closed on 08/11/2012.  The areas were not offered and now revert to vacant acreage.

Offshore, in the Gippsland Basin, Enegex will acquire 55% of Moby’s interest in VIC/P 41 and VIC/P 47 after the schemes of arrangement between the two companies comes into effect
.


Western Australia

In the Perth Basin, EP 321, EP 407 and EP 440 are in the process of being renewed.

Also in the Perth Basin, Origin Energy has terminated its EP 368 and EP 426 farm-in agreement with Empire Oil & Gas. Origin advised the Department of Mines and Petroleum did not approve a variation to the work program by June 9 for EP 368 and May 15 for EP 426 and made the decision to withdraw from the joint venture.

In the Perth Basin, Key Petroleum’s interest in EP 437 is held by subsidiary Key Petroleum (Australia) P/L.

In the Canning Basin, the EP 438 work program is pending suspension.

In the Carnarvon Basin, EP 444 is in the process of being renewed.

In the Perth Basin, the EP 454 work program is pending suspension.

In the Canning Basin, L 12-15 and L 12-16 closed 06/12/2012 and are under consideration.

In the Yilgarn Block, SPA 1 AO expired on 21/11/2012.

In the Perth Basin, STP-EPA-0065 and STP-EPA-0066 are applications by Southern Sky Energy P/L.

In the Carnarvon Basin, Green Rock Energy Ltd and Palatine Energy P/L have executed an agreement for Green Rock to farm-in for a 50% interest in SPA 33 for a nominal up-front payment to Palatine and to solely fund a $200,000 work program. The permit is currently under application as STP-SPA-0033.

In the Dampier Basin, a 12 month suspension period has been granted on the Year 3 work program for WA-1-P. Year 3 has been extended from 29/08/2012 to 28/08/2013. The licence will expire on 28/01/2015.

In the Browse and Carnarvon Basins, Enegex NL is to acquire 67% of Moby’s interest in WA-342-P and 55% of Moby’s interest in WA-409-P after the schemes of arrangement come into effect.

In the Carnarvon Basin, the WA-385-P work program is pending suspension.

In the Browse Basin, Toyota Tsusho Gas E&P Browse P/L has withdrawn from WA-396-P and WA-397-P. Its interests have been transferred to Woodside Energy Ltd.

In the Browse Basin, a 6 month suspension period has been granted on the Year 2 work program for WA-398-P. Year 2 has been extended from 31/10/2012 to 30/04/2013.
Licence will expire on 31/10/2016.

In the Petrel Sub Basin, WA-405-P was surrendered on 11/09/2012.

In the Browse Basin, Santos has executed an agreement to take 30% in WA-408-P. The permit is operated by Total 50%, Murphy Oil has 20% interest in the permit. The agreement is subject to customary conditions.

In the Carnarvon Basin, Finder No 9 P/L has farmed in for 35% in WA-412-P.

In the Barrow Basin, KUFPEC Australia P/L has transferred its interest in WA-41-R to KUFPEC (Perth) P/L.

In the Browse Basin, a 6 month suspension period has been granted on the Year 3 work program for WA-423-P. Year 2 has been extended from 13/11/2012 to 12/05/2013.
Licence will expire on 12/05/2016.

In the Carnarvon Basin, Apache Northwest P/L has withdrawn from WA-427-P. KUFPEC (Perth) P/L now holds 100% of the permit.

In the Barrow Basin, Apache Energy’s interest in WA-453-P is held by subsidiary Apache Northwest P/L.

In the Petrel Sub Basin, MEO Australia’s interest in WA-454-P is held by subsidiary Drysdale Offshore Exploration P/L.

In the Carnarvon Basin, PE Wheatstone P/L has acquired a 10% interest from Chevron in WA-46-L, WA-47-L and WA-48-L.

In the Browse Basin, Total’s interest in WA-50-L is held by subsidiary Total E&P Ichthys
.


New Zealand

In the Taranaki Basin, Petrochem Ltd has transferred its interest in PEP 38746 to Greymouth subsidiaries Greymouth Gas Kaimiro Limited 30.1%, Greymouth Gas Parahaki Limited 25%, Greymouth Gas Turangi Limited 25% and Greymouth Petroleum Turangi Limited 19.9%.

In the Taranaki Basin, Mosaic Oil NZ Ltd has withdrawn from PEP 51149. Interests are now Todd Exploration Ltd 80% and Cue Taranaki P/L 20%.

In the Taranaki Basin, OMV New Zealand Ltd has entered a farm-in agreement to earn a 30% interest in PEP 51313. OMV will earn the interest by funding an initial single exploration well in the licence targeting the Whio prospect. OMV will take operatorship by 31/03/2013, post completion of a seismic acquisition. In the event of a commercial discovery at Whio, OMV's interest will increase to 69%. The agreement is subject to regulatory approval.

In the Taranaki Basin, New Zealand Oil & Gas has signed agreements to acquire interests in three permits from Octanex NL. Under the agreements, NZOG will earn 12.5% in PEP 51906 for a payment of $US12.5 million, with the option for a further 5% in the event of a second exploration well in the permit. NZOG will become operator and earn 50% in PEP 53473 and PEP 52593 by funding 75% and 60% respectively of exploration costs in the permits. The agreements are subject to New Zealand Minister of Energy approval.

In the Raukumara Basin, PEP 52707 was surrendered on 04/12/2012
.


Papua New Guinea

In the Papuan Basin, PPL 277 was renewed to 29/11/2017 over a reduced area of 4,020 sq km.

Also in the Papuan Basin, PPL 436 was granted to Kina Petroleum Ltd 50% and Wondecla Ltd (a subsidiary of Cott Oil & Gas) 50% on 30/11/2012. Licence will expire on 30/11/2018.

In the Papuan Basin, PRL 8, PRL 9 and PRL 10 are in the process of being renewed
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