January 2016 GPinfo Update

The January 2016 data update is now available …

A new layer called Australia 3D has been added to the SEISMIC > OVERLAYS group. The layer combines 3D survey polygons from the following state departments – New South Wales, Queensland, South Australia, Victoria and Western Australia …

In addition, Estimages, PGS and Searcher Seismic have supplied us with updates to their proprietary data and so the relevant layers in the OVERLAYS group have been freshened this month …

A new field has been added to Permits layer to indicate the most recent renewal date of a permit …

Industry Summary

Permit Updates and Changes

In the Clarence/Moreton Basin, PEL 13 was cancelled on 17/12/2015, PEL 16 was cancelled on 18/12/2015 and PEL 426 was cancelled on 17/12/2015. In addition, application PPLA 9 was …

In the Surat Basin, the blocks previously covered by ATP 336 W were relinquished on 19/11/2015. ATP 336 now covers 187 sq km …

Data Update

New Seismic Data

Please note:

1. In the interests of conveniently combining disparate data sets, some attributes that existed in the original, individual files may be missing from the combined version.

2. Layer South Australia 3D has been removed from GPinfo as this data is now incorporated into the new Australia 3D layer.

3. The layer contains all available 3D survey polygons as published on the mines departments’ websites. Comparison with 3D surveys in the GAMS data set shows that a number of surveys are missing. (Query syntax - Find GAMS 2014 where Survey_Type contains 3D). However, some of the missing surveys are included in the survey companies’ proprietary data sets.

4. A small number of Queensland surveys are duplicated in the South Australian data.

5. The data contained in the Australia 3D layer is the property of the suppliers. Right-click on the layer name in the Map Manager and select View data provenance to see full attribution.

6. We will update the 3D Australia layer biannually from state department sources.

In addition, Estimages, PGS and Searcher Seismic have supplied us with updates to their proprietary data and so the relevant layers in the OVERLAYS group have been freshened this month.

New field in Permits record

A new field has been added to Permits data layer to indicate the most recent renewal date of a permit.

The three dates relating to permits are now –

Granted	the date on which the permit was initially granted
Renewed	the most recent renewal date
Expiring	the date on which the current term will expire

The Renewed field will be blank in a variety of circumstances – when the permit has not yet been granted, when the permit is in its initial term, when the permit has been granted “for the life of the field” or when the renewal date is unknown.

This applies to the Permits data layer which contains all permits regardless of resource type, and also to query layers Petroleum, Geothermal and Sequestration which are resource sub-sets of the Permits layer.

To view the full structure of the Permits data layer, right-click on the layer name in the Map Manager and select View data provenance.

Industry Summary

Company News

Galilee Energy Ltd has undertaken a strategic review of its operations and focus following the disappointing outcome from the Hoffer A1 well. The key focus for the company going forward will be the outcome of the current cost effective program to demonstrate the gas flow from the R1 seam at the Glenaras Gas Project. The Company anticipates this will facilitate the conversion of a portion of the reported contingent resource (currently in excess of 5,300 PJ 3C) to reserves. Based on current progress of the pilot, the Company still expects to see initial results towards the end of the first quarter 2016, with testing operations to continue until the end of June 2016. The Company has suspended all further capital expenditure in the US. The Company will continue its negotiations on the exploration permit application for the significant potential of the CSG project in the southern Magallanes Basin, Chile. (Source: Galilee Energy announcement, 21/12/2015).

Metgasco Ltd advises that it has received $25,000,000 and the refund of $430,000 in bonds from the NSW Government following Metgasco shareholder approval on 16/12/2015 to accept the NSW Government’s settlement/buy-back offer for its three NSW exploration licences. As part of the settlement, exploration licences PEL 13 and PEL 16 have been cancelled, Metgasco has withdrawn its renewal application for PEL 426 and for production licence PPLA 9 and has formally withdrawn from court action. (Source: Metgasco Ltd announcement, 22/12/2015).

Oil Search has refinanced its two existing US$125 million bilateral revolving credit facilities provided by Australia and New Zealand Banking Group Limited (ANZ) and Commonwealth Bank of Australia (CBA). Following a competitive bid process, which was very well supported, both US$125 million bilateral revolving credit facilities have been extended with ANZ and CBA. The renewed facilities have a three year term and expire in December 2018. (Source: Oil Search announcement, 18/12/2015).

Origin Energy Limited today advised it has taken steps to reduce the Company’s exposure to low oil prices by purchasing put options on oil for the 2017 financial year and forward swelling LNG cargoes at a fixed price. Both transactions are designed to mitigate a substantial proportion of Origin’s share of exposure to oil prices on volumes Australia Pacific LNG sells under existing contracts and to spot LNG prices on volumes above contracted commitments. (Source: Origin Energy announcement, 22/12/2015).

Santos today announced that the GLNG project participants have executed an agreement with AGL Energy Limited for the purchase of 254 PJ of gas for supply to the GLNG project. The gas will be delivered at Wallumbilla over a period of 11 years commencing in January 2017, with pricing based on an oil-linked formula. The gas will be sourced from coal seam gas fields in Queensland. (Source: Santos announcement, 24/12/2015).

Shell’s $70 billion takeover offer for BG Group has received unconditional merger clearance from the Chinese Ministry of Commerce. This is the final regulatory clearance that is a pre-condition to the merger. Other pre-conditional clearances have already been received from the authorities in Australia, Brazil and the European Union. Shell and BG shareholder meetings to vote for, or against, the proposed combination are expected to be convened on 27/01/2016 and 28/01/2016, respectively. (Source: Onshore Energy Today, 14/12/2015, 22/12/2015).

The Federal Court of Australia has ordered a scheme meeting of Drillsearch Energy to consider and vote on the proposed merger with Beach Energy. The meeting has been scheduled for 27/01/2016.

If the scheme is approved and all other conditions precedent are satisfied or waived Drillsearch shareholders will receive 1.25 new Beach shares for each Drillsearch share. (Source: Drillsearch Energy announcement, 15/12/2015).

Empire Energy Group is pleased to announce that definitive agreements have been signed between Imperial Oil & Gas Ltd, a 100% subsidiary of the Company and AEGP Australia P/L, an affiliate of American Energy Partners for the farm-out and development of Empire’s Northern Territory oil and gas tenements. The agreements provide for $US60 million in phase one funding and further provides access of up to $US100 million of funding in phase two. Two additional payments of US$7.5 million each are payable to Imperial, with the first payment payable on closing, which is within 120 days of the definitive documents. (Source: Empire Energy Group announcement, 24/12/2015).

Leigh Creek Energy has signed a non-binding heads of agreement with APT Pipelines, a subsidiary of APA Group, which will allow the development of conceptual plans for the interconnection for the Leigh Creek Energy Project with the east coast gas markets. Under the agreement APA will start work on identifying the most likely route for the interconnection pipeline, the costs of any such pipeline, the gas storage potential at Leigh Creek and other infrastructure opportunities including power generation. The agreement will be effective for a least six months and up to two years. (Source: Leigh Creek Energy announcement, 15/12/2015).

Senex Energy Ltd and GLNG have completed the transaction for the development of the Western Surat Gas Project in Queensland, announced on 24/09/2015. Senex has received $42 million in cash and a comprehensive suite of subsurface, production and other technical data, in exchange for the sale of the Maisey Block to GLNG. Senex is to supply up to 50 TJ/day of sales from its Western Surat Gas Project to GLNG under a binding 20-year gas sales agreement. (Source: Senex Energy announcement, 16/12/2015).

Armour Energy directors have recommended that shareholders accept American Energy Partners offer to acquire 13.62% of Armour shareholders shares at $0.25 per share, in the absence of a superior proposal. A number of conditions remain outstanding. If one or more of the outstanding conditions is not satisfied or waived by the cut-off date, either party may either seel to terminate the farm-out agreement (in which case the American Energy transaction would not proceed), or to re-negotiate it. (Source: Armour Energy announcement, 24/12/2015, 07/01/2016).

Oil Basins has advised that new independent static reservoir engineering studies on the Cyrano oil pool discovery in Western Australia’s Carnarvon Basin confirmed the previous 1P and 2P assessment, with significant upside potential possible with a future discretionary dynamic study. Cyrano holds recoverable reserves of 2.18 mmbbl 1P, 3.01 mmbbl 2P and 3.89 mmbbl 3P. Oil Basins has completed an up to date assessment of the environmental factors that may influence a future development, which indicates that the environment impact of a conventional development is manageable in the mature offshore hydrocarbon province. (Source: Oil Basins announcement, 07/01/2016).

Oil Basins is pleased to announce an increase in prospective potential recoverable resources at its Derby Block EP 487. 3D-GEO’s preliminary assessment indicates a new gross prospective potential recoverable P90 resources assessment of 8.5 tcf, which is a 77.1% increase from the corresponding earlier 4.8 tcf figure pre-grant in February 2013. There was also a 73.5% lift in corresponding gross associated condensate volumes to 203.5 mmbbls. Thus the new gross prospective potential recoverable P50 resources were assessed at 24.6 tcf, a 31.6% boost from the corresponding earlier 18.7 tcf assessment pre-grant. There was then a corresponding 32.9% lift in gross associated condensate volumes to 614 mmbbls. In other related news, Oil Basins announced it had not resigned its operatorship of EP487 claiming Rey Resources did not meet the agreed preconditions and minimum legal requirements to perform as operator according to the permit grant. Thus, OBL said RLS was in default under the joint operating agreement in regards to a number of matters. Rey has refuted Oil Basins’ claims. (Source: Oil Basins announcement, 14/01/2016 and 15/01/2016, Rey Resources announcement 15/01/2016).

Developments

The first LNG carrier is set to arrive at the $US54 billion Gorgon LNG Project on Barrow Island. The carrier will arrive with a full cargo of LNG that will be injected into the LNG plant on the island to cool the storage tanks and processing lines as well as purge any air that remains in the system. The arrival of the carrier is a precursor to Chevron starting up the first of the three trains nearing completion in preparation for bringing the plant on stream. The maiden Gorgon LNG cargo is expected before the end of the first quarter of 2016. (Source: Oil & Gas Journal, 16/12/2015).

Chevron Corp has signed a non-binding heads of agreement with China Huadian Green Energy Co. Ltd for the supply of LNG from the Gorgon and Wheatstone projects off Western Australia. When the deal is finalised, China Huadian will receive as much as 1 million tonnes/year of LNG for 10 years beginning in 2020. China Huadian is a subsidiary of China Huadian Group, one of the largest state-owned electric power generation companies in China. (Source: Oil & Gas Journal, 22/12/2015).

AWE Ltd and Origin Energy Ltd have achieved Final Investment Decision for the Stage 1A of the 484 bcf Waitsia gas field development onshore Perth basin in Western Australia. This initial phase involves connecting the Waitsia 1 and Senecio 3 wells to the nearby refurbished Xyris production facility. Treated gas from the Xyris plant will be sent to the existing Parmelia pipeline to Perth for domestic consumption. Engineering, execution, and management costs for Stage 1 will amount to $17.5 million, with initial capacity of 10 TJ/day of produced gas. First gas is expected on stream in August 2016. A take-or-pay sales agreement has been negotiated with Alinta Energy for 10 TJ/day over 2.5 years. The anticipated flow when fully developed is expected to be more than 100 TJ/day, representing 10% of Western Australia’s daily domestic consumption. (Source: AWE announcement, 05/01/2016).

Origin Energy today confirmed the first shipment of LNG has departed from the Australia Pacific LNG (APLNG) Facility on Curtis Island in Queensland. The cargo was shipped on the Methane Spirit carrier, which left Gladstone harbor last week. APLNG has one train in production and is scheduled to begin production from second trains this year. Once both of its production trains are fully operational, APLNG will have a nameplate capacity of 9 mtpa of LNG, with about 8.6 mtpa committed under long term take-or-pay contracts with Sinopec in China and Kansai in Japan. (Source: Origin Energy announcement, 11/01/2016, Energy News 11/01/2016).

The Maari joint venture advises that a full upgrade will be made to the mooring lines on the Maari Field Floating Production Station, the Raroa. Preparation for the upgrade is underway and it is expected the works will be carried out between February and April 2016. The upgrade will future-proof the mooring system for the next decade. Total investment in the system upgrade, including engineering, equipment and construction is estimated to be approximately NZ$60 million. (Source: OMV New Zealand announcement, 18/12/2015).

Discoveries

The Mahalo 7 horizontal well is being produced in combination with the Mahalo 6 vertical intercept well, via the pump in Mahalo 6. A series of small pump speed increases have been applied to the Mahalo 6 well since October, resulting in immediate and significant increases in the gas rate. The gas rate has now passed 299,000 cfd and continues to increase. (Source: Comet Ridge Announcement, 18/12/2015).

Quadrant Energy has recovered condensate rich gas from its Roc 1 well, offshore Australia, using wireline logging tools. According to Carnarvon Petroleum, a partner in the project, the condensate to gas ratio is estimated at 20 to 40 barrels per million cubic feet of gas. Wireline logging over the interval from 4,380 metres to 4,420 metres has confirmed reservoir quality sands with net hydrocarbon interval of 10 metres from the gross 40 metre sand column. Pressure testing has confirmed at least three discrete hydrocarbon columns in the section from 4,380 metres to 4,420 metres. The partners have decided not to return to the well this year for a flow test, but instead a well will be considered in an up-dip location on the potential crest of the structure, where better results might be expected. (Source: Carnarvon Petroleum announcement, 04/01/2016, Energy News Premium, 04/01/2016).

Buru Energy has found oil in a new play in its Ungani Far West 1 wildcat in the onshore Canning basin of north Western Australia. The company has identified a sandstone reservoir at the top of the Anderson formation at a depth of 1,560 metres. The reservoir has a good permeability of 450 md. Oil was subsequently recovered to the surface. Buru reported that interpretation of pressure data indicates an oil column at least 14 metres thick with about 5 metres of net pay. The company is currently logging and taking samples to confirm and evaluate the find. Once this operation has been completed, drilling will continue to the top of the main target Ungani Dolomite reservoir where 5 inch casing will be run. (Source: Buru Energy announcement, 07/01/2016).

Empire Oil & Gas is pleased to advise that it has struck 53 metres of gas pay at its Red Gully North 1 exploration well in the onshore Perth Basin. The 53 metres of net gas pay is interpreted from logs in the C and D sands of the Jurassic age Cattamarra Coal Measures below 3725m during drilling. The sands were the primary sandstone objectives during drilling and generated elevated gas readings, but there has been some concern they may be tighter than expected. A production completion has been pre-ordered and is designed to allow zone isolation for the enhanced testing program, expected in March or April 2016. (Source: Empire Oil & Gas announcement, 29/12/2015).

Permit Changes

New South Wales

In the Clarence/Moreton Basin, PEL 13 was cancelled on 17/12/2015, PEL 16 was cancelled on 18/12/2015 and PEL 426 was cancelled on 17/12/2015. In addition, application PPLA 9 was withdrawn on 17/12/2015.

Northern Territory

In the Vulcan Sub Basin, AC/P 33 was relinquished on 11/01/2016.

In the Browse Basin, a suspension and extension for AC/P 36 was lodged with NOPTA on 24/12/2015.

In the Browse Basin, a change to the work program for AC/P 41 has been approved –

Years 1-3: 579 sq km in block full-fold 3D seismic reprocessing, seismic interpretation & technical studies $2.1m
Year 4: G&G, 250 sq km 3D seismic inversion $0.3m
Year 5: G&G $0.3m

In the Bonaparte Basin, Oz-Exoil and TSP have withdrawn from NT/P 68. Eni has been assigned their interest and now holds 100%.

In the Georgina Basin, the application to renew EP 128 has been withdrawn. The area has reverted to vacant acreage.

In the Amadeus Basin, the work program for EP 145 has been extended by 12 months. The licence will expire on 21/08/2020.

In the McArthur Basin, EP 154 has undergone a partial relinquishment and now covers a reduced area of 6440 sq km.

In the McArthur Basin, gazettal area EPNT 14-3 has reverted to vacant acreage.

Queensland

In the Surat Basin, the blocks previously covered by ATP 336 W were relinquished on 19/11/2015. ATP 336 now covers 187 sq km.

In the Eromanga Basin, Strike Energy has withdrawn from ATP 549 Cypress Block. Strike’s 5% has been taken up by Australian Gasfields Ltd which now hold 60%.

In the Cooper Basin, PL 288 was granted on 23/12/2015. The licence replaced PL 106 and will expire on 22/12/2025.

In the Bowen Basin, PL 414 was granted on 03/12/2015. The licence will expire on 02/12/2045. As a result, ATP 592 has undergone a partial relinquishment and now covers a reduced area of 1383 sq km.

In the Surat Basin, PL 407 was granted on 03/12/2015. The licence will expire on 02/12/2045. As a result, ATP 606 has undergone a partial relinquishment and now covers a reduced area of 616 sq km.

South Australia

Geothermal

In the Arrowie Basin, GEL 156 has been renewed to 22/11/2020 over a reduced area of 499 sq km.

Sequestration

In the Pirie-Torrens Basin, ARP TriEnergy P/L has applied for GSELA 662 over 94 sq km.

In the Otway Basin, GSRL 27 has been renewed to 14/09/2020

Western Australia

In the Carnarvon Basin, a suspension and extension for WA-155-P was lodged with NOPTA on 24/12/2015.

In the Carnarvon Basin, WA-271-P is being renewed.

In the Carnarvon Basin, the year 4 work program for WA-335-P has been extended by 6 months from 27/03/2016 to 26/09/2016. The licence has had its expiry date extended to 26/09/2017.

In the Petrel Sub Basin, WA-34-R has been renewed to 22/12/2020. Work program is as follows –

Years 1-5: gas marketing, development concept $0.15m

In the Carnarvon Basin, WA-346-P expired on 14/01/2016.

In the Carnarvon Basin, Tap Oil and Quadrant Northwest have reached a settlement in a financial dispute regarding licence WA-351-P on the basis that Apache’s claim against Tap is dismissed with Apache paying Tap costs of $50,000. The claim was for the repayment of a portion of the moneys paid to Tap by BHP Billiton Petroleum (North West Shelf) Pty Ltd under a farm-in agreement entered into in June 2011, under which Tap sold to BHP Billiton a 25% interest in WA-351-P. BHP Billiton subsequently assigned to Apache a portion of its interest in WA-351-P.

In the Carnarvon Basin, a change to the WA-356-P work program has been approved –

Year 4: geotechnical studies $0.25m
Year 5: 230 sq km 3D seismic, geotechnical studies $2.7m

In the Carnarvon Basin, suspensions & extensions for WA-362-P and WA-363-P were lodged with NOPTA on 23/12/2015.

In the Carnarvon Basin, the year 2 and 3 work programs for WA-387-P have been extended by 12 months to 06/02/2017. The licence has had its expiry date extended to 06/02/2019.

In the Petrel Sub Basin, the year 5 work program for WA-407-P has been extended by 10 months from 19/01/2016 to 18/11/2016. The licence has had its expiry date extended to 18/11/2017.

In the Browse Basin, WA-425-P expired on 02/01/2016.

In the Carnarvon Basin, WA-428-P and WA-430-P are being renewed.

In the Carnarvon Basin, a location application for WA-444-P was lodged with NOPTA on 22/12/2015.

In the Dampier Basin, WA-457-P is being relinquished.

In the Carnarvon Basin, a suspension & extension for WA-483-P was lodged with NOPTA on 22/12/2015.

In the Carnarvon Basin, WA-64-R was granted to Chevron Australia (WA-364-P) P/L 50% and Shell Australia P/L 50% on 16/12/2015. The licence will expire on 15/12/2020. Work program is as follows –

Year 1: build and run stimulation of reservoir model $0.05m
Year 2: technical studies $0.05m
Year 3: development studies $0.05m
Year 4: technical studies $0.1m
Year 5: development studies $0.1m

In the Carnarvon Basin, WA-65-R was granted to Chevron Australia (WA-364-P) P/L 50% and Shell Australia P/L 50% on 16/12/2015. The licence will expire on 15/12/2020. Work program is as follows –

In the Carnarvon Basin, WA-66-R has been granted to Chevron Australia (WA-365-P) P/L 50% and Shell Australia P/L 50% on 16/12/2015. The licence will expire on 15/12/2020. Work program is as follows –

Year 1: technical studies $0.1m
Year 2: technical studies $0.1m
Year 3: update and run stimulation of reservoir model $0.2m
Year 4: technical studies $0.2m
Year 5: development studies $0.2m

In the Carnarvon Basin, WA-67-R has been granted to Chevron Australia (WA-365-P) P/L 50% and Shell Australia P/L 50% on 16/12/2015. The licence will expire on 15/12/2020. Work program is as follows –

Year 1: seismic interpretation, technical studies $0.05m
Year 2: build and run stimulation of reservoir model, technical studies $0.05m
Year 3: development studies $0.05m
Year 4: development studies $0.05m
Year 5: development studies $0.05m

In the Carnarvon Basin, WA-68-R has been granted to Chevron Australia (WA-365-P) P/L 50% and Shell Australia P/L 50% on 16/12/2015. The licence will expire on 15/12/2020. Work program is as follows –

In the Barrow Sub Basin, EP 307 is being renewed.

In the Canning Basin, EP 390 is being relinquished.

In the Perth Basin, the year 2 work program for EP 413 has been extended by 6 months from 22/08/2015 to 22/02/2016. The licence has had its expiry date extended to 22/02/2019. A change to the work program has been approved –

Year 3: commercial studies $0.2m
Year 4: 1 well $15m

In the Canning Basin, EP 417 expired on 31/12/2015. The area has reverted to vacant acreage.

In the Canning Basin, EP 438 is being relinquished.

In the Carnarvon Basin, the suspension and extension application for EP 439 has been withdrawn. Subsequently, the permit has expired and the area has reverted to vacant acreage.

In the Barrow Sub Basin, EP 441 was relinquished on 04/12/2015.

In the Canning Basin, EP 443 and EP 450 expired on 31/12/2015. The areas have reverted to vacant acreage.

In the Canning Basin, EP 471, EP 472 and EP 473 are being relinquished.

In the Carnarvon Basin, the year 5 work program for EP 475 has been extended by 12 months from 03/01/2016 to 03/01/2017. The licence has had its expiry date extended to 3/01/2018. A change to the work program has been approved –

Year 5: geotechnical studies, 100 km seismic processing $0.2m
Year 6: 1 well $1.1m

In the Canning Basin, EP 476, EP 477 and EP 478 are being relinquished.

In the Canning Basin, the year 1 work program for EP 493 has been extended by 12 months from 28/02/2017 to 28/02/2018. The licence has had its expiry date extended to 28/02/2022. A change to the work program has been approved –

Year 1: G&G studies, 220 km 2D seismic, 179 sq km seismic interpretation, evaluation studies $2.91m

In the Canning Basin, an application to suspend the work program and extend the licence date for R 1 has been lodged with DMP.

In the Canning Basin, applications STP-EPA-109, STP-EPA-20, STP-EPA-21, STP-EPA-28, STP-EPA-30, STP-EPA-31 and STP-EPA-44 have been withdrawn. The areas revert to vacant acreage.

In the Barrow Sub Basin, TP/23 was relinquished on 04/12/2015.

In the Barrow Sub Basin, TR/1 expired on 22/12/2015.

New Zealand

In the Taranaki Basin, a change to the PEP 51152 work program has been approved –

72 months: geophysical mapping and geological interpretation
88 months: 50 km 2D seismic
104 months: 1 well
116 months: 1 well

In the Taranaki Basin, PEP 51154 has undergone a partial relinquishment and now covers 40 sq km. A change to the work program has been approved –

66 months: geophysical mapping and geological interpretation
84 months: 75 sq km 3D seismic
90 months: migrate 350 sq km 3D seismic
105 months: 1 well

Nine new oil and gas permits have been awarded for Block Offer 2015 including three onshore permits and six offshore permits, all in the Taranaki Basin, as below.

In the Taranaki Basin, PEP 60089 was granted to OMV New Zealand Ltd 57.14% and Mitsui E&P Australia P/L 42.86% on 16/12/2015. Licence will expire on 31/03/2028. Work program is as follows –

12 months: satellite seep study
18 months: petroleum systems study
36 months: 1000 sq km 3D seismic
72 months: 1 well
144 months: 1 well

In the Taranaki Basin, PEP 60091 was granted to OMV New Zealand Ltd 57.14% and Mitsui E&P Australia P/L 42.86% on 16/12/2015. Licence will expire on 31/03/2028. Work program is as follows –

12 months: fluid inclusion stratigraphy study, mercury injection capillary pressure study, satellite seep study, structural restoration study, PSDM reprocessing
48 months: 1 well
72 months: 400 sq km 3D seismic
144 months: 1 well

In the Taranaki Basin, PEP 60092 was granted to OMV New Zealand Ltd 57.14% and Mitsui E&P Australia P/L 42.86% on 16/12/2015. Licence will expire on 31/03/2028. Work program is as follows –

6 months: 400 km 2D seismic reprocessing
12 months: studies
18 months: petroleum systems study
36 months: 620 sq km 3D seismic
72 months: 1 well
144 months: 1 well

In the Taranaki Basin, PEP 60093 was granted to OMV New Zealand Ltd 57.14% and Mitsui E&P Australia P/L 42.86% on 16/12/2015. Licence will expire on 31/03/2028. Work program is as follows –

12 months: studies
18 months: petroleum systems study, fluid extract geochemistry study
36 months: 250 sq km 3D seismic
72 months: 1 well
144 months: 1 well

In the Taranaki Basin, PEP 60094 was granted to Todd Exploration Ltd 100% on 16/12/2015. Licence will expire on 31/03/2028. Work program is as follows –

24 months: 550 km 2D seismic, studies
36 months: 770 km 2D seismic
48 months: 350 sq km 3D seismic
72 months: 1 well
108 months: studies
144 months: 1 well

In the Taranaki Basin, PEP 60095 was granted to Mont D'Or Resources Ltd 100% on 16/12/2015. Licence will expire on 31/03/2028. Work program is as follows –

12 months: studies
36 months: 200 km 2D seismic
54 months: AVO analysis of 2D seismic
72 months: 1 well
96 months: seismic inversion study
120 months: studies
144 months: 1 well

In the Taranaki Basin, PEP 60097 was granted to Petrochem Ltd 100% on 16/12/2015. Licence will expire on 31/03/2026. Work program is as follows –

18 months: 5.5 sq km 3D seismic reprocessing, 7.7 km 2D seismic
48 months: 1 well
84 months: 1 well

In the Taranaki Basin, PEP 60098 was granted to Petrochem Ltd 100% on 16/12/2015. Licence will expire on 31/03/2026. Work program is as follows –

18 months: 64 km 2D seismic
48 months: 1 well
84 months: 1 well

In the Taranaki Basin, PEP 60099 was granted to Petrochem Ltd 100% on 16/12/2015. Licence will expire on 31/03/2026. Work program is as follows –

18 months: biostratigraphic study of 8 wells
48 months: 1 well
84 months: 1 well

Papua New Guinea

In the Papuan Basin, PPL 287 was renewed to 07/07/2019 over a reduced area of 3760 sq km.

Also in the Papuan Basin, permit interests in PPL 426 are Talisman 60%, Barracuda 30% and Diamond Gas Foreland 268 BV.

In the Papuan Basin, Pacific Rubiales Energy PNG has withdrawn from PPL 475 and PRL 39. InterOil's gross interest in PPL 475 has increased to 100% (excluding minority interests) and its gross interest in the Triceratops discovery has increased to 78.111%.

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