December 2014



Monthly Update

The December 2014 data update is now available ...

Areas Proposed for 2015 Offshore Acreage Gazettal

On 18th May 2015, the Hon Ian Macfarlane MP, the Minister for Industry, is scheduled to announce the 2015 Offshore Petroleum Exploration Acreage Release at the APPEA Conference in Melbourne.  Twenty-eight proposed areas have been shortlisted for inclusion in the acreage release ...

Industry Summary

Armour Energy has entered into a memorandum of understanding with Aeon Metals for the potential future supply of gas from Armour’s exploration tenements in North West Queensland to Aeon Metals’ Walford Creek Project ...

Permit Updates and Changes

The Petroleum (Onshore) Amendment (NSW Gas Plan) Bill 2014 has been passed.  As a result, 16 PELAs have been extinguished. In future, the Government will release title areas for expressions of interest under a new Strategic Release Framework ...

 


Monthly Update

The December 2014 GPinfo update is now available.

Important note for users of Windows XP

In Q1 2015 we will be releasing a new version of the GPinfo program that incorporates an upgrade to the licensing software.

The new version will not run under Windows XP

If you are still using Windows XP, please let us know immediately.
Click here to send an email.

 


Areas Proposed for 2015 Offshore Acreage Gazettal

On 18th May 2015, the Hon Ian Macfarlane MP, the Minister for Industry, is scheduled to announce the 2015 Offshore Petroleum Exploration Acreage Release at the APPEA Conference in Melbourne.  Twenty-eight proposed areas have been shortlisted for inclusion in the acreage release.  The proposed areas and associated boundaries are yet to be finalised and remain subject to change until the 2015 Acreage Release is officially launched by the Minister.

Any work or forward planning undertaken by companies in relation to the proposed areas prior to the official launch is done at the commercial risk and cost of individual operators.  (Source:  Australian Petroleum News, 09/12/2014).


Industry Summary

Company News

Armour Energy has entered into a memorandum of understanding with Aeon Metals for the potential future supply of gas from Armour’s exploration tenements in North West Queensland to Aeon Metals’ Walford Creek Project. The memorandum of understanding relates to gas supply volumes of 1-2 PJ per annum. Armour’s ATP 1087 permit lies 10 km from Aeon’s Walford Creek base metals project and presents a feasible option for supplying energy to the mine as it is developed. In the first instance Armour is planning to primarily commercialise its gas resources through supply to existing and proposed mining operations in North West Queensland via a new pipeline connection from its tenements to the Doomadgee/Burketown area and/or through a micro LNG or compressed natural gas scheme. (Source: Aeon Metals announcement, 26/11/2014, Armour Energy announcement, 26/11/2014).

The Australian Securities and Investments Commission has approved Seven Group Holdings’ $180 million takeover offer for Nexus Energy. The approval comes as Nexus administrators McGrathNicol submitted documents to the court, including significant changes to an initial report that found in favour of the deal. However, the legal team for a group of Nexus shareholders which are resisting the deal has been granted a Supreme Court of New South Wales hearing over the matter which was also adjourned to 16/12/2014. (Source: Energy News Premium, 26/11/2014).

Evoworld will make another attempt at control of Neon Energy after it suffered a resounding defeat at an extraordinary general meeting held in November. Evoworld will hold a further general meeting on 14/01/2015, which will again seek the same outcome, as well as raising unspecified resolutions in relation to the recently announced merger of equals between Neon and MEO Australia. (Source: Neon Energy announcement, 26/11/2014).

Mosman Oil and Gas Ltd is pleased to announce that it proposes to make a takeover bid to acquire 100% of the fully paid ordinary shares in the issued capital of MEO Australia Ltd. Mosman intends to offer MEO shareholders 1 share in Mosman for every 20 shares in MEO. It is anticipated the proposal will be despatched in February 2015. (Source: Mosman Oil & Gas announcement, 11/12/2014).

Woodside has entered into a binding transaction with Apache Corporation to acquire Apache’s Wheatstone LNG and Balnaves oil interests. Under the terms of the agreement, Apache will sell its equity ownership in subsidiary, Apache Julimar Pty Ltd, which owns a 13% interest in the Wheatstone LNG project and a 65%interest in the WA-49-L block which includes the Julimar/Brunello offshore gas fields and the Balnaves oil development. The acquisition is subject to regulatory approvals, pre-emption and joint venture participant consent. The transaction is expected to close in the first quarter of 2015. (Source: Woodside announcement, 16/12/2014).

The proposed merger of Octanex NL and Peak Oil & Gas Ltd has been terminated after Octanex advised it is not prepared to advance further loan funds to Peak and will not extend the end date of the implementation agreement beyond 31/12/2014. (Source: Octanex announcement, 16/12/2014).


Developments

THE INPEX-operated Ichthys LNG Project’s first Christmas tree systems have arrived in Australia accompanied by a pair of tubing head spools and associated parts, plus the project’s first completion riser system. The tree systems left the subsea manufacturing facility at Bridge of Don in Aberdeen on 03/08/2014 before arriving at GE’s Jandakot facility in Western Australia on 21/11/2014. Ichthys project managing director Louis Bon said that, following inspection and pre-deployment testing at GE’s Jandakot facility, the Christmas tree system wind be handed over to the drilling team and installed as part of the project’s upcoming production drilling campaign. (Source: Energy News Bulletin, 24/11/2014).

Woodside Petroleum has released its draft environmental impact statement for the proposed Browse LNG Project offshore Western Australia, reaffirming that a floating LNG development is the most likely and commercially viable option. Woodside also advised that a revised schedule into front-end engineering and design (FEED) entry has been agreed by the Browse joint venture. Basis of design as well as pre-FEED work has now been completed. Woodside anticipates that the development will be in a position to enter the FEED phase in mid-2015 and is targeting a final investment decision in mid-2016. (Source: Energy News Premium, 19/11/2014, Woodside announcement, 16/12/2014).

Woodside has announced joint venture approval of the next $1.2 billion step in the North West Shelf Project, offshore Western Australia. The work involves development of the Persephone field and will be the third major gas development for the North West Shelf project in the last six years. The project will involve a two well, 7km subsea tieback from the Persephone field to the North Rankin complex. Start-up of the development is expected in early 2018. (Source: Woodside announcement, 27/11/2014).

Woodside Energy and Transfield Services have signed a new master services agreement. Under the agreement, Transfield will continue to provide multidiscipline implantation services to Woodside’s North West Shelf Project offshore facilities for the next two years, with options for two one-year extensions. The scope of the contract includes all offshore brownfield projects’ execution works including electrical and instrumentation, mechanical, inspection, cladding and insulation, blasting and painting, scaffolding rope access and web decking, as well as other Perth-based support services. (Source: Transfield Services announcement, 04/12/2014).

Discoveries

Beach Energy’s Bauer 19 development well in PPL 253 has potentially increased reserves for the Bauer field after intersecting 8.7 metres of net oil pay within the Namur Sandstone, as well as a 4 metre gross interval of oil bearing McKinlay Member. Bauer 19 has been cased and suspended as a future McKinlay and Namur oil producer. (Source: Beach Energy announcement, 25/11/2014).

Santos and Drillsearch are pleased to announce a new wet gas discovery at Varanus South 1 on the Western Cooper Wet Gas Fairway of the Cooper Basin. Preliminary interpretation of wireline logs has confirmed an aggregate best estimate of 18 metres of net gas pay over a gross interval of 365 metres in the Patchawarra Formation and an additional 9 metres of net hydrocarbon pay over a gross interval of 37 metres in the Tirrawarra Formation. The well has been cased and suspended as a future wet gas producer. (Source: Drillsearch announcement, 05/12/2014).

Santos has made a second wet gas discovery at the PEL 513 block in the South Australian Cooper Basin with the Yarowinnie South 1 exploration well. Initial wireline logging data found the almost 15 metres of pay across a gross Patchawarra Formation interval of 410 metres. The well has been cased and suspended as a future gas producer. (Source: Energy News Premium, 12/12/2014).

OMV New Zealand is pleased to announce that oil production from the first of the Maari Growth Project wells to be brought on stream, the MR8A well, has started at a rate of approximately 2000 bbls/day. Production at MR8A started on 28/11/2014 producing from a previously undrained compartment in the Maari field. The production capacity for this well has been estimated at 4500 bbls of oil per day (gross). (Source: Cue Energy announcement, 02/12/2014).

Origin Energy has confirmed its Speculant 1 exploration well discovered potentially commercial quantities of gas offshore in Victoria’s Otway Basin. Wireline formation pressure data has confirmed the presence of a gas column of approximately 145 metres within the Waare C formation. Further evaluation of the secondary targets is underway with the Waare sands formation considered about 100 metres thick. (Source: Origin Energy announcement, 09/12/2014).

Bengal Energy has reported a new natural gas discovery in its Cooper Basin ATP 752 permit. The Nubba 1 well, located in the Wompi sub-block, encountered light oil shows in five different Jurassic reservoir bearing formations as well as 6.2 metres of gas pay in the Permian Toolachee formation.
Reservoir pressure data further indicated a potential gas column of up to 70 metres, with the well now cased as a potential Toolachee gas well. (Source: Bengal Energy announcement, 08/12/2014)
.
 


Permit Updates and Changes

New South Wales

The Petroleum (Onshore) Amendment (NSW Gas Plan) Bill 2014 has been passed.  As a result, 16 PELAs have been extinguished. In future, the Government will release title areas for expressions of interest under a new Strategic Release Framework.  The freeze on new applications will remain until the new system is in place.  Current applicants who have had their applications expunged will have first right to apply should the area they had under application be released. PELAs that have been extinguished include: PELA 130, 135, 137, 144, 146, 147, 148, 150, 151, 152 and PSPAPP 48, 54, 56, 57, 62, 63.


Northern Territory

The following areas are shortlisted for inclusion in the 2015 Offshore Acreage Release -

AC 15-1

Vulcan Basin

Proposed work program area

AC 15-2

Vulcan Basin

Proposed work program area

AC 15-3

Browse Basin

Proposed work program area

NT 15-1

Petrel Sub-Basin

Proposed work program area

NT 15-2

Petrel Sub-Basin

Proposed cash bid area

In the Vulcan Basin, the AC/P 33 year 4 and 5 work programs are now –

Year 4: G&G studies $0.25m
Year 5: 1 well $20m

In the Browse Basin, the year 6 work program for AC/P 52 has been extended by 24 months from 26/05/15 to 25/05/2017. The licence has had its expiry date extended to 25/05/2017.

In the Petrel Sub-Basin, NTC/P 10 has been relinquished.

In the Ord Basin, EP 304 and EP 307 was granted to Oates, T. on 26/11/2014. The licenses will expire on 25/11/2019.

In the Beetaloo Basin, EPNT 14-1 closed 12/12/2014 and is under consideration.

In the Amadeus Basin, EPNT 14-2 closed 12/12/2014 and is under consideration.

In the McArthur Basin, EPNT 14-3 closed 12/12/2014 and is under consideration
.


Queensland

Offshore in the Carpentaria Basin, Gulf Energy lodged a suspension and extension application for Q/23 with NOPTA on 25/11/2014.

Onshore, in the Bowen Basin, ATP 655 has had its expiry date extended to 31/10/2017.

In the Cooper Basin, Chevron has until 31/03/2015 to decide on whether to proceed to Stage 2 of its earning program in ATP 855.

In the Georgina Basin, ATP 914 has undergone a partial relinquishment and now covers a reduced area of 2,478 sq km.

In the Cooper Basin, ATP 940 has had its expiry date extended to 06/11/2017.

In the Eromanga Basin, preferred tenderer Australian Shale Oil Resources Company Ltd withdrew its applications for ATP 1141 and ATP 1148 on 19/11/2014.  There were multiple competing applications for these areas and a decision has yet to be made on whether a new preferred tenderer will be announced.

In the Surat Basin, ATP 1188P has had its expiry date extended to 05/03/2020.

In the Bowen Basin, PCA 144 has been varied and now covers a reduced area of 182 sq km.

In the Eromanga Basin, PL 50 was renewed to 27/06/2021.

In the Surat Basin, PL 71 is in the process of being renewed.

Also in the Surat Basin, PL 93 is being renewed as PL 323.

In the Surat Basin, PL 174 is being renewed as PL 511.

In the Surat Basin, production licence applications PL 1009 and PL 1010 will replace PL 261 and PL 262 when granted.

Geothermal

On the New England Fold Belt, application EPG 98 has been withdrawn.


South Australia

The following area is shortlisted for inclusion in the 2015 Offshore Acreage Release -

S 15-1

Ceduna Basin

Proposed work program area

In the Cooper Basin, the suspension of licence for PEL 101 dated 09/07/2014 has temporarily ceased.  The licence is now due to expire on 18/03/2016.

In the Cooper Basin, PEL 514 has now lapsed as part of PEL 514 was granted as PEL 638 and the residual area converted to PRLs.

In the Murray Basin, PEL 610 has been relinquished.

In the Otway Basin, PEL 629 has been suspended from 02/12/2014 to 01/06/2015. The licence has had its expiry date extended to 01/09/2019.

In the Pirie-Torrens Basin, PEL 650 was granted to ARP TriEnergy P/L 100% on 18/11/2014. The licence will expire on 17/11/2019. Work program is as follows -

Year 1: G&G, appraisal drilling
Year 2: G&G
Year 3: G&G
Year 4: seismic, design of exploration program
Year 5: 5 wells

Also in the Pirie-Torrens Basin, Marathon Resources has signed a non-binding term sheet to undertake due diligence investigations to farm into the Leigh Creek Energy Project. Marathon will receive an exclusive right to do due diligence on ARP TriEnergy’s tenements until 31/12/2014 in return for spending $400,000 on exploration. Marathon will also earn a 10% undivided interest in ARP TriEnergy’s tenements PEL 650, PELA 582, PELA 643, PELA 644, PELA 647 and PELA 649 for spending $600,000 on exploration as part of the joint venture.

In the Cooper Basin, PEL 96 is being renewed.

In the Pirie-Torrens Basin, application PELA 647 has been varied and now covers a reduced area of 3,750 sq km.

In the Cooper Basin, PRL 118 to PRL 128 were granted to Stuart Petroleum Cooper Basin Oil P/L 80% (operator) and Planet Cooper Basin P/L 20% on 26/11/2014. The licences will expire on 25/11/2019.


In the Cooper Basin, Beach Energy Ltd 40% (operator), Great Artesian Oil & Gas P/L 40% and Drillsearch Gas P/L 20% have applied for PRLA 175 to PRLA 179.

Geothermal

In the Eromanga Basin, GEL 191, GEL 192 and GEL 193 have been suspended from 30/08/2014 to 26/02/2015. The licenses have had their expiry dates extended to 28/02/2015.

Sequestration

In the Cooper Basin, GSEL 648 was granted to Beach Energy Ltd 40% (operator) and Great Artesian Oil & Gas P/L 60 % on 14/11/2014. The licence will expire on 13/11/2019. Work program is as follows -

Year 1: G&G studies
Year 2: G&G studies
Year 3: G&G studies
Year 4: G&G studies
Year 5: G&G studies

In the Cooper Basin, Acer Energy Ltd 80% (operator) and Mid-Continent Equipment (Australia) 20% have applied for GSELA 652 over 77 sq km and GSELA 654 over 77 sq km.

In the Cooper Basin, Beach Energy Ltd 40% (operator), Great Artesian Oil & Gas P/L 40% and Drillsearch Gas P/L 20% have applied for GSELA 653 over 409 sq km.


Tasmania

The following areas are shortlisted for inclusion in the 2015 Offshore Acreage Release –

T 15-1

Otway Basin

Proposed work program area

T 15-2

Otway Basin

Proposed work program area

T 15-3

Otway Basin

Proposed work program area

In the Otway Basin, Beach will earn an additional 10% in T/49P by paying an increased share of the expanded Flanagan survey costs (now programmed to record 974 sq km of full fold data).


Victoria

The following areas are shortlisted for inclusion in the 2015 Offshore Acreage Release –

V 15-1

Otway Basin

Proposed work program area

V 15-2

Gippsland Basin

Proposed work program area

V 15-3

Gippsland Basin

Proposed work program area

Offshore, in the Gippsland Basin, Oil Basins Royalties P/L acquired a 2% ORR in VIC/P 47.   The year 5 work program for VIC/P 47 has been varied to - reprocess and interpret 187 sq km seismic, geotechnical studies $0.581m.

Also in the Gippsland Basin, Hirex (Australia) P/L has exercised its option to acquire 20% of VIC/P 57 from 3D Oil.

In the Gippsland Basin, VIC/RL 1(V) was renewed to18/10/2019.

Onshore, in the Otway Basin, PEP 174 has had its expiry date extended to 16/10/2019.


Western Australia

The following areas are shortlisted for inclusion in the 2015 Offshore Acreage Release –

W 15-1

Petrel Sub-Basin

Proposed cash bid area

W 15-10

Dampier Basin

Proposed cash bid area

W 15-11

Carnarvon Basin

Proposed cash bid area

W 15-12

Dampier Basin

Proposed cash bid area

W 15-13

Carnarvon Basin

Proposed work program area

W 15-14

Carnarvon Basin

Proposed work program area

W 15-16

Carnarvon Basin

Proposed work program area

W 15-17

Carnarvon Basin

Proposed work program area

W 15-2

Bonaparte Basin

Proposed work program area

W 15-4

Browse Basin

Proposed work program area

W 15-5

Rowley Sub-Basin

Proposed work program area

W 15-6

Carnarvon Basin

Proposed work program area

W 15-7

Carnarvon Basin

Proposed work program area

W 15-8

Carnarvon Basin

Proposed work program area

W 15-9

Dampier Basin

Proposed cash bid area

In the Carnarvon Basin, W 12-11 has reverted to vacant acreage.

In the Petrel Sub-Basin, WA-18-P is being relinquished.

In the Browse Basin, INPEX has transferred 1.2% to Kansai Electric Power Ichthys E&P P/L and 2.625% to OPIC Ichthys P/L in WA-285-P, WA-50-L and WA-51-L.

In the Carnarvon Basin, WA-347-P is being relinquished.

In the Carnarvon Basin, W 13-7 was granted as WA-507-P to Odyssey O&G P/L 80% (operator) and Black Swan Resources P/L 20% on 17/11/2014. The licence will expire on 16/11/2020. Work program is as follows –

Year 1: G&G studies, 1587 sq km 3D seismic $1.75
Year 2: G&G studies $0.25m
Year 3: G&G studies $0.25m
Year 4: G&G studies $0.25m
Year 5: G&G studies $0.25m
Year 6: 1 well, G&G studies $30.25m

In the Browse Basin, W 13-4 was granted as WA-508-P to Pathfinder Energy P/L 100% on 17/11/2014. The licence will expire on 16/11/2020. Work program is as follows –

Year 1: 1000 km 2D seismic reprocessing, G&G studies $0.32
Year 2: 221 sq km 3D seismic $1.6m
Year 3: G&G studies $0.2m
Year 4: G&G studies $0.2m
Year 5: engineering studies $1m
Year 6: 1 well $60m

In the Browse Basin, W 13-5 was granted as WA-509-P to Pathfinder Energy P/L 100% on 17/11/2014. The licence will expire 16/11/2020. Work program is as follows –

Year 1: 1000 km 2D seismic reprocessing, G&G studies $0.32
Year 2: 1411 sq km 3D seismic $10m
Year 3: G&G studies $0.3m
Year 4: G&G studies $0.2m
Year 5: engineering studies $1m
Year 6: 1 well $60m

In the Carnarvon Basin, Bounty Oil & Gas and Empire Oil & Gas have entered an indicative agreement for Bounty to purchase all of Empire’s Carnarvon Basin interests held by an Empire subsidiary. Under the deal, Empire will sell its 100% owned subsidiary, Rough Range Oil P/L, which holds Carnarvon Basin permits EP 325, EP 359, EP 433, EP 434, EP 435 and L 16, to Bounty. The sale is subject to the execution of a Share Purchase Agreement.

In the Carnarvon Basin, EP 412 is being relinquished.

In the Perth Basin, EP 437 has been renewed to 27/11/2019 over reduced area of 721 sq km. Work program is as follows -

Year 1: production test $0.85m
Year 2: G&G studies $0.2m
Year 3: 1 well $1.5m
Year 4: G&G studies $0.1m
Year 5: 1 well $1.5m

In the Canning Basin, the year 6 work program for EP 448 has been suspended by 12 months from 15/12/2014 to 15/12/2015.  The licence has had its expiry date extended to 15/12/2015.

In the Canning Basin, the year 4 and 5 work programs for EP 464 have been suspended by 12 months from 14/01/2015 to 14/01/2016.  The licence has had its expiry date extended to 14/01/2017. A change to the years 3, 4 and 5 work program has also been applied –

Year 3: geotechnical studies $0.4m
Year 4: 482 km 2D seismic $4m
Year 5: geotechnical studies $1m

In the Canning Basin, Rey Resources, through its subsidiary company Rey Lennard Shelf P/L, has entered into an agreement with Backreef Oil P/L to acquire its 50% interest in EP 487 for either $2 million, to be paid on grant of a production licence in the block, or a 2% royalty on future production. The agreement is subject to the conclusion of hearings by the State Administrative Tribunal, termination or expiration of existing agreements to sell the Derby Block to Buru and Octanex and approval from the Foreign Investment Review Board. Furthermore, the Year 1 work program for EP 487 has been extended by 9 months from 14/03/2015 to 31/12/2015. The licence has had its expiry date extended to 31/12/2020.

In the Canning Basin, SPA 17 AO is under application as STP-EPA-131.

In the Perth Basin, Eneabba has advised Green Rock Energy that it has finalised its due diligence on an acquisition of the Ocean Hill tenement STP-EPA-90. Eneabba received shareholder approval for the acquisition at its AGM held on 27/11/2014.


New Zealand

The following areas have been proposed for the 2015 Block Offer to be released in March 2015. The areas are yet to be finalised.

15GSC-R1

Great South Basin

Offshore

15NRN-R1

Northland Basin

Offshore

15PEG-R1

Pegasus Basin

Offshore

15TAR-R1

Taranaki Basin

Offshore

15TAR-R2

Taranaki Basin

Onshore

15WEC-R1

West Coast Basin

Onshore

15WEC-R2

West Coast Basin

Onshore

In the Great South and New Caledonia Basins, 14GSC-R1 and 14NCD-R1 were not granted. The areas have reverted to vacant acreage.

In the East Coast Basin, Searcher Seismic P/L has applied for prospecting permit APP 56365 over 483,830 sq km.

In the Great South Basin, application APP 57031 has been varied and now covers a reduced area of 364,808 sq km.

In the Taranaki Basin, PEP 38459 is being renewed.

In the Reinga Basin, part of 14RNL-R1 was granted as PEP 57057 to Statoil New Zealand BV 100% on 09/12/2014. The licence will expire on 31/03/2030. Work program is as follows –

24 months: 200 km 2D seismic, technical studies
60 months: 250 sq km 3D seismic
84 months: 1 well
180 months: 1 well

In the East Coast Basin, part of 14ECT-R1 was granted as PEP 57058 to Mosman Oil & Gas (NZ) Ltd 100% on 09/12/2014. The licence will expire on 31/03/2025. Work program is as follows –

24 months: geochemical sampling
36 months: geochemical sampling, technical studies
48 months: 1 well, technical studies
54 months: ongoing work program

In the Taranaki Basin, part of 14TAR-R2 was granted as PEP 57063 to TAG Oil (NZ) Ltd 100% on 09/12/2014. The licence will expire on 31/03/2025. Work program is as follows –

12 months: 1 km 2D seismic reprocessing
24 months: 60 km 2D seismic
36 months: 1 well
48 months: technical studies
60 months: 1 well
96 months: 1 well, technical studies
108 months: technical studies
120 months: 1 well

In the Taranaki Basin, part of 14TAR-R2 was granted as PEP 57065 to TAG Oil (NZ) Ltd 100% on 09/12/2014. The licence will expire on 31/03/2025. Work program is as follows –

12 months: 65 km 2D seismic reprocessing, 20 sq km 3D seismic reprocessing
24 months: 1 well
36 months: 100 km 2D seismic
48 months: 1 well
60 months: technical studies
96 months: 1 well, studies
108 months: technical studies
120 months: 1 well

In the West Coast Basin, part of 14WEC-R1 was granted as PEP 57067 to Mosman Oil & Gas (NZ) Ltd 100% on 09/12/2014. The licence will expire on 31/03/2025. Work program is as follows –

12 months: technical studies, 30 km 2D seismic, geochemical sampling
24 months: 1 well
36 months: 1 well
48 months: 1 well, technical studies
54 months: ongoing work program

In the West Coast Basin, part of 14WEC-R1 was granted as PEP 57068 to Mosman Oil & Gas (NZ) Ltd 100% on 09/12/2014. The licence will expire on 31/03/2025. Work program is as follows –

24 months: remote sensing study, technical studies, 10 km 2D seismic, 1 well
36 months: 1 well
48 months: 1 well, technical studies
54 months: ongoing work program

In the Taranaki Basin, part of 14TAR-R1 was granted as PEP 57070 to New Endeavour Resources (NZ) Ltd 100% on 09/12/2014. The licence will expire on 31/03/2027. Work program is as follows –

18 months: technical & commercial studies
36 months: 1 well
60 months: 100 sq km 3D seismic, 1 well
120 months: ongoing work program

In the Pegasus Basin, part of 14PEG-R1 was granted as PEP 57073 to OMV New Zealand Ltd 100% on 09/12/2014. The licence will expire on 31/03/2030. Work program is as follows –

12 months: 1000 km 2D seismic reprocessing, geochemical sampling, remote sensing study
18 months: studies
24 months: 2000 km 2D seismic
36 months: studies
48 months: 1000 sq km 3D seismic
66 months: technical studies
84 months: 1 well
180 months: 1 well

In the Taranaki Basin, part of 14TAR-R1 was granted as PEP 57075 to OMV New Zealand Ltd 100% on 09/12/2014. The licence will expire on 31/03/2027. Work program is as follows –

12 months: 930 km 2D seismic reprocessing, 830 sq km 3D seismic reprocessing
18 months: studies
30 months: 700 sq km 3D seismic
48 months: studies
60 months: 1 well
84 months: 1 well
144 months: 1 well

In the Taranaki Basin, part of 14TAR-R2 was granted as PEP 57076 to Petrochem Ltd 100% on 09/12/2014. The licence will expire on 31/03/2025. Work program is as follows –

18 months: 100 sq km 3D seismic reprocessing
36 months: technical studies
48 months: 1 well
60 months: technical studies
84 months: 1 well

In the Taranaki Basin, part of 14TAR-R1 was granted as PEP 57080 to Todd Exploration Ltd 50% (operator) and Beach Petroleum (NZ) P/L 50% on 09/12/2014. The licence will expire on 31/03/2027. Work program is as follows –

24 months: 1 km 2D seismic reprocessing, technical studies
48 months: technical studies, 675 sq km 3D seismic
60 months: technical studies
72 months: 1 well
144 months: 1 well

In the Pegasus Basin, part of 14PEG-R1 was granted as PEP 57083 to Chevron New Zealand Exploration Ltd 50% (operator) and Statoil New Zealand BV 50% on 09/12/2014. The licence will expire on 31/03/2030. Work program is as follows –

12 months: 100 km 2D seismic, remote sensing study, geochemical sampling
24 months: technical studies
36 months: 4250 sq km 3D seismic, 690 km 2D seismic, geochemical sampling
60 months: 750 sq km 3D seismic, remote sensing study
84 months: 1 well
180 months: 1 well

In the Pegasus Basin, part of 14PEG-R1 was granted as PEP 57085 to Chevron New Zealand Exploration Ltd 50% (operator) and Statoil New Zealand BV 50% on 09/12/2014. The licence will expire on 31/03/2030. Work program is as follows –

12 months: 1 km 2D seismic, geochemical sampling, remote sensing study
24 months: studies
36 months: 787 km 2D seismic, 513 sq km 3D seismic, geochemical sampling
48 months: 922 sq km 3D seismic
54 months: remote sensing study
84 months: 1 well
180 months: 1 well

In the Pegasus Basin, part of 14PEG-R1 was granted as PEP 57087 to Chevron New Zealand Exploration Ltd 50% (operator) and Statoil New Zealand BV 50% on 09/12/2014. The licence will expire on 31/03/2030. Work program is as follows –

12 months: 1 km 2D seismic, geochemical sampling, remote sensing study
24 months: studies
36 months: 327 km 2D seismic, geochemical sampling
48 months: 636 sq km 3D seismic
54 months: remote sensing study
84 months: 1 well
180 months: 1 well

In the Taranaki Basin, part of 14TAR-R1 was granted as PEP 57090 to ONGC Videsh Ltd 100% on 09/12/2014. The licence will expire on 31/03/2027. Work program is as follows –

48 months: 1400 sq km 3D seismic
72 months: 1 well
78 months: ongoing work program


Papua New Guinea

In the Papuan Basin, production licence application PDL 11 now covers a reduced area of 257 sq km.

Also in the Papuan Basin, PPL 219 has expired.

PPL 320 and PPL 322 are in the process of being renewed.


PPL 486 which was granted on 17/06/2014 was a top-file application over PPL 319. The licence will expire on 16/06/2020. In May 2014, Telemu and Heritage Oil amended their farmin.  In exchange for the extension of the deadline for the spudding of the first exploration well from 01/10/2014 to 31/12/2015, Telemu received - 

1. A further cash payment of US$2.5 million.
2. Heritage will carry Telemu for 30% of Telemu's 20% share of a second exploration well.
3. Heritage will fund 100% of any joint operating costs incurred between the time Heritage fulfils its obligations with respect of the first exploration well until the earlier of the spud of the second well or the 180th day following the date of testing and suspension or abandonment of the first exploration well. 

As a result, Telemu is not responsible for any costs prior to the spudding of a second well, but is responsible for 14% of the costs of the exploration well and for 20% of the costs of the remainder of the work program.

PRL 11 has expired
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