July 2015 GPinfo Update                                                                                                     



Data Update

 

The July 2015 data update is now available …

 

Fields & Pipelines

 

This month's update includes new versions of the Fields and Pipelines layers.  New or changed fields include Achilles, Argus, Arnhem, Blake, Brederode, Chandon, Charo, Clio, Cloverhill

 

New Data Layer

 

The July update includes a new data layer supplied to us by CGG

 

Industry Summary

 

AGL Energy Ltd has announced that, following a comprehensive review of its Upstream Gas business, it would focus on core gas projects and divest non-core and under-performing gas …

 

Permit Updates and Changes

 

In the Sydney and Gloucester Basins, AGL has taken advantage of the NSW Government’s buy-back scheme and has sold back PEL 2, PEL 4 and PEL 267
 

 

 Data Update                                                                                                                             

 

The July 2015 GPinfo data update is now available.
 


 

Thanks

 

Our thanks to Senex Energy and ConocoPhillips for providing us with data verification assistance this month.

 

Senex provided updated surface locations for over 400 of their wells which they have verified against well surveys and WCRs, while ConocoPhillips provided us with deviated well information for their Northern Territory, JPDA and Ashmore-Cartier wells (surface location, bottom-hole location, MDRT and TVDRT).

 


We aim to ensure the accuracy of the GPinfo data by gathering and cross-referencing information from multiple sources, and input from our users is a vital part of that process. If you would like to contribute data updates, corrections or additions, we would very much appreciate the assistance. 
 

 

 Fields & Pipelines                                                                                   

 

This month's update includes new versions of the Fields and Pipelines layers.

New or changed fields include Achilles, Argus, Arnhem, Blake, Brederode, Chandon, Charo, Clio, Cloverhill, Cuisinier/Cocinero/Barta North, Dino North, Eendracht, Elevala, Elfin, Eurytion, Frigate, Geryon, Goldie, Growler, Helene, Isosceles, Jansz-Io, Kaimiro, Kentish Knock, Kentish Knock South, Lasseter, Lympstone, Mangahewa, Martlet/Martlet North, McKee, Moturoa, Mustang, Ngatoro, NW Koko, Orthrus, Orthrus Deep, Pandora, Phoenix, Phoenix South, Pinhoe, Pohokura, Royal Oak, Sappho, Satyr, Snatcher, Spitfire, Tern, Tingu, Turangi, Vos, Whanto, Worrior and Yellowglen.

Pipelines have undergone a major update across the board, but particularly in the Surat-Bowen area of Queensland and in Western Australia.

Our thanks to those companies who supplied and assisted in the verification of updated data for display on the 2015 Petroleum Permits Map, and for giving their permission for its inclusion in GPinfo
.
 

 

 New Data Layer                                                                                       

 

The July update includes a new data layer supplied to us by CGG.

 

A new layer called CGG 3D is in Map Manager group OVERLAYS which is a sub-group of SEISMIC. The layer contains polygons outlining four 3D surveys off north western Australia.

 

 

 

The layer will be created automatically as part of the monthly update and will behave in the same way as other data layers in GPinfo. Polygons will display in purple with transparency set at 50%.
 

 

 Industry Summary                                      

 

Company News

 

AGL Energy Ltd has announced that, following a comprehensive review of its Upstream Gas business, it would focus on core gas projects and divest non-core and under-performing gas assets and activities.   Core projects to be retained include the Camden Gas Project, Gloucester Gas Project, Silver Springs underground storage facility, Wallumbilla Liquefied Petroleum Gas plant and the recently opened Newcastle Gas Storage Facility.  AGL also confirmed that it would not proceed with the proposed Camden Northern Expansion Project.  The Camden Gas Project will continue its current operations focused on reducing production costs.   Assets to be divested include the Hunter Gas Project assets (PEL 4 and PEL 267) and associated agriculture activities.  Other assets to be divested include PEL 2 (which includes the North Camden area), AGL’s interests in the Cooper Oil Project (ATP 1056), Spring Gully (ATP 592) and the Moranbah assets.  The Moranbah assets comprise AGL’s 50% interest in the Moranbah Gas Project, back-in rights in the wider Bowen Basin (ATP 1103P) and the North Queensland Energy business (including the Yabulu Power Station power purchase agreement, associated gas supply agreement and gas transportation agreement). (AGL announcement, 06/07/2015).

 

Royal Dutch Shell plc today announced its proposed $A90 billion takeover of BG Group has cleared its first antitrust hurdle by receiving early termination of the US antitrust waiting period from the US Federal Trade Commission. Shell CEO Ben van Beurden said yesterday that securing early termination was “a clear demonstration of the good progress we’re making on the deal”. Shell and BG announced in April it had reached agreement on the terms of a recommended cash and share offer to be made for the entire issued and to-be-issued share capital of BG. The proposed deal requires review and approval by relevant antitrust and regulatory authorities, and support from both sets of shareholders. (Source: Energy News Premium, 17/06/2015).

 

AWE is yielding production success at its New Zealand operations, with oil output from the Tui field increasing. AWE’s joint venture partner, New Zealand Oil & Gas, advised that 604,736 barrels of oil from the Tui field, offshore Taranaki, had been lifted and shipped last week. The volume reflects increased production from Tui resulting from the Pateke 4H field coming into production in April. (Source: New Zealand Oil & Gas announcement, 23/06/2015).

 

Wesfarmers Ltd has entered into an agreement to acquire a 13.7% interest in Quadrant Energy from Macquarie Group Ltd for $US100 million ($129.36m). The Wesfarmers deal will reduce Macquarie's interest in Quadrant Energy to 36.3% from 50%. Wesfarmers will also have the right to appoint a director to the board of quadrant. (Source: Wesfarmers announcement, 24/06/2015).

 

Beach Energy Ltd has initiated a long-term gas sales agreement with Origin Energy Retail Ltd for delivery of up to 139 PJ of sales gas over an initial eight-year term. Beach has advised that deliveries of sales gas under the long-term GSA commenced 01/07/2015. Beach is supplying the gas from its share of production from the South Australian Copper Basin Joint Venture and the South-West Queensland JV that it shares with Origin and Santos. Key benefits to Beach from the agreement include attractive oillinked pricing with other parameters, and expected delivery of significant sales gas volumes over an initial eight-year period (total volumes of up to 139 PJ), with a two year extension available to Origin (for total volumes of up to 173 PJ over full 10-year period). It is expected that sales gas delivery under the GSA will ramp up during fiscal year 2016, while legacy contracts continue to be serviced. (Source: Beach Energy announcement, 01/07/2015).

 

The New South Wales Government has again elected to extend the deadline for the buyback of CSG leases. The buyback scheme, which was expected to expire 30/06/2015, will be extended for a further three months. Energy Minister Anthony Roberts said there were a number of titleholders who are still interested in the $212,000 cash offer per licence. The Minister said the scheme extension represents a short window for licence holders to take part in the buy-back. The scheme has so far seen 12 Petroleum Exploration Licences bought back or cancelled by the government. The government claims its NSW Gas Plan has so far reduced the footprint of CSG across the state from more than 60% to 11%. (Source: Energy News Premium, 01/07/2015).

 

Icon Energy has renewed its agreement with Shantou Sino Energy for the delivery of 40 million tonnes of LNG to China over 20 years. The deal was signed in 2011 and requires Icon to prove up at least an independently certified 2 tcf of 2P gas, and obtain development approvals. Shantou needs to obtain any necessary import approvals on or before 30/06/2015 from Chinese authorities to allow the construction and operation of the receiving facilities and the purchase and import by it of LNG under the LNG sales agreement. Icon believes it will be able to deliver the gas from ATP 855 in the Nappameri Trough where there is P90 potential for 21.48 tcf and 2C resources of 1.5 tcf (gross). (Source: Energy News Premium, 26/06/2015).

 


 

Developments

 

The Western Australian government announced yesterday that it has signed an agreement with Woodside’s Browse LNG Joint Venture for the supply of gas from three offshore fields into the domestic gas market. It is the first time that the state’s domestic gas reservation policy would be applied to an FLNG project. Under the agreement, the Browse Joint Venture partners, have committed to the supply 800 PJ of gas to the domestic market. The 800 PJ figure is in line with WA’s contentious domestic gas reservation policy, which mandates that 15% of a field be reserved for the supply to the local market. However, the gas does not have to come from Torosa, which is 65% in state waters, with the government allowing the joint venture to use other fields as offsets. The deal also includes a local supply chain commitment for the Browse project, which is to be developed as a floating LNG concept. Finalisation of a domgas agreement is one of the last remaining barriers that Woodside needed to overcome before it can rally all the Browse JV partners towards development. (Source: Energy News Premium, 24/06/2015).

 

The Woodside Petroleum led Browse FLNG Development has entered the front-end engineering and design (FEED) phase for the proposed development of the Torosa, Brecknock, and Calliance natural gas fields offshore Western Australia. The FEED phase will finalise the costs and provide technical definition for the proposed development to enable a final investment decision. It includes determining a range of details related to the commercialisation, timing and sequencing of FLNG deployment. As part of the entry into the FEED phase, the Browse Joint Venture participants entered into an Equity Alignment Deed (EAD), which comprises a series of exchanges of equity interests between the participants, establishing a single aligned interest for each of the participants across the combined Browse project. No monetary consideration was payable in respect of the EAD. Subject to approval and registration, Woodside's participating interest in the Browse resources will be 30.6% (net Woodside 2C share of 4.7 tcf of dry gas and 138.6 million barrels of condensate). In parallel, Woodside and the other Browse Joint Venture participants entered into a new Joint Operating Agreement (JOA) that sets out the governance and management arrangements for the assets of the Browse Joint Venture and supports the progression of the proposed development to FID. Woodside remains operator of the Browse FLNG Development. (Source: Woodside announcement, 01/07/2015).

 

The Technip Samsung Consortium has been awarded two contracts by Shell for the Browse FLNG Project. The first contract covers the FEED elements, taking into account the composition of the gas, local weather conditions and factors specific to the Brecknock, Calliance and Torosa fields. The second contract covers the engineering, procurement, construction and installation of the three FLNG units of the Browse project. This contract is subject to the final investment decision from the client at the end of the FEED. (Source: Energy News Bulletin, 06/07/2015).

 

Oil Search and its joint venture partners have voted in favour of operator Total SA’s recommended location of key infrastructure sites for the Papua LNG Project, encompassing the Elk-Antelope gas field. Oil Search said discussions with the PNG Government on proposed infrastructure sites and selection criteria were well advanced and an announcement from the Government expressing support for these decisions is expected shortly. In the interim the joint venture had agreed; the central processing facility for the Elk-Antelope gas field will be located west of the Herd base in PRL 15 near the Purari River; the LNG plant will be located at Caution Bay approximately 20km north-west of Port Moresby and adjacent to the PNG LNG Project site; and around 75 km onshore and 265 km offshore pipeline routes for the separate gas and condensate pipelines will be needed. Oil Search said that over the next few months, detailed geotechnical data acquisition will be undertaken, to further define the site locations. The selection of the final development concept, including the sizing and capacity of the facilities, is expected to take place early in 2016, once appraisal of the Elk-Antelope field has been completed and the resource size has been quantified. This development concept will then provide the basis for moving into Front End Engineering and Design (FEED) phase. (Source: Energy News Premium, 03/07/2015).

 

Origin Energy has awarded Wood Group Kenny a $US1 million contract to provide detailed design engineering for the onshore pipelines related to Halladale, Black Watch, and Speculant (HBWS) natural gas fields in the Otway basin just offshore western Victoria. The three fields are located just offshore in Victoria’s coastal waters and because of nearby sensitive marine environments the development wells are being planned with wellheads on land using extended-reach drilling techniques from onshore location and tied back to the existing Otway Gas Plant. The work involves detailed design of onshore raw gas and mono-ethylene glycol pipelines from the well site to the gas plant. Construction is scheduled to begin by yearend. (Source: Energy News Bulletin, 02/07/2015).

 

Global testing, inspection and certification firm Applus has been awarded three contracts worth $22.5 million for work on the Ichthys Project by Laing O’Rourke Australia, Monadelphous Engineering Associates and UGLKentz JV. Applus RTD will provide inspection engineering, asset integrity management and advanced non-destructive testing (NDT) services on two LNG tanks, one LPG tank, one butane tank and two OBSL and ISBL (inside/outside battery limits) mechanicals.  Applus RTD’s Rayscan Tankscan will be used throughout the three-year contracts, which is the first time the technology will be deployed in Australia, and only the second time worldwide. The contract will also see Applus RTD provide maintenance for the anticipated 40-year life cycle of the plant, with an expected team of 60 working on the project at peak times, a combination of new and existing staff. (Source: Energy News Premium, 01/07/2015)

 

BHP Billiton and Woodside Petroleum have started preparations for decommissioning of the Stybarrow oil field in production licence WA-32-L offshore Western Australia. The field has been producing for 8 years. BHP lodged the first documents to the National Petroleum Safety and Environmental Management Authority to begin the abandonment process. Originally expected to produce 60-90 million barrels Stybarrow and Eskdale fields over a 10-year life, Stybarrow will have produced an expected 60 mmbbl by year’s end. (Source: Energy News Premium, 01/07/2015).

 

OneSubsea has been awarded a front-end engineering and design (FEED) contract for the proposed Woodside-operated Browse FLNG Development. OneSubsea’s will work collaboratively with Woodside to fully define and determine the optimal subsea production system design and equipment requirements for the Browse FLNG Development. The contract will involve up to 20 locally employed people working on the subsea scope over the next 12 to 18 months as Woodside prepares for a final investment decision. (Source: Energy News Premium, 07/07/2015).

 


 

Discoveries

 

Origin Energy, as Operator of the BassGas Joint Venture, today announced that the Yolla 5 production well has reached total depth of 3,384m. Yolla 5 successfully intersected the primary reservoir targets located in the Paleocene EVCM sands. Good continuity of reservoir quality and thickness is observed between Yolla 5 and Yolla 6. The well has been logged and cased, and evaluation of results is ongoing and preparations are in place to complete the well before being commissioned for production, along with Yolla 6, via the BassGas production facility at Lang Lang, Victoria. (Source: AWE announcement, 03/07/2015).

 

 

 Permit Changes                                                                

 

New South Wales

 

In the Sydney and Gloucester Basins, AGL has taken advantage of the NSW Government’s buy-back scheme and has sold back PEL 2, PEL 4 and PEL 267.  The licences were cancelled on 06/07/2015.

 


 

Northern Territory

 

In the Vulcan Sub Basin, a retention lease application over the Oliver Location AC/P 33 L was lodged with NOPTA on the 15/06/2015.

 

In the Bonaparte Basin, a change to the NT/P 82 work program has been approved -


Year 6
: 600 sq km 3D seismic $16m

 

In the Vulcan Sub Basin, AC/RL 4 and AC/RL 5 have been renewed to 15/06/2020.

 


 

Queensland

 

A number of work programs have been updated in GPinfo this month.  The following licences have had their work programs updated:  ATP 626, ATP 644, ATP 645, ATP 665, ATP 668, ATP 674, ATP 683, ATP 685, ATP 688, ATP 708, ATP 722, ATP 732, ATP 739, ATP 754, ATP 769, ATP 771, ATP 788, ATP 954, ATP 805, ATP 811, ATP 840, ATP 855, ATP 1025, ATP 1031, ATP 1032, ATP 1044 and ATP 1087.

 

AGL Energy is in the process of divesting its interests in ATP 1056 and ATP 592 (and associated PCAs and PLs).

 

In the Surat Basin, ATP 1095 was granted to Surat Gas P/L 100% on 26/05/2015.  The licence will expire on 31/05/2019.  Competing applications ATP 1096 and ATP 1097 have been refused.  Work program is as follows -

 

Year 1: G&G studies, 3 wells (average 900m each)
Year 2: G&G studies, 100 km 2D seismic, 5 wells (average 900m each)
Year 3: 7 wells (average 900m each), G&G studies
Year 4: G&G studies, 9 wells (average 900m each)

 

In the Bowen Basin, ATP 1079 has had its expiry date extended to 31/01/2019.  Work program is as follows -
 

Year 1: 2 test wells to 2600m, 2 development wells to 2600m
Year 2: 12 development wells to 2600m
Year 3: 12 development wells to 2600m, 60 km 2D seismic
Year 4: 12 development wells to 2600m
(17/01/2013 to 31/01/2017 extended to 31/01/2019)

 

In the Surat Basin, ATP 1098 was granted to Surat Gas P/L 100% on 26/05/2015.  The licence will expire on 31/05/2019.  Work program is as follows -

 

Year 1: G&G studies, 4 wells (average 700m each)
Year 2: G&G studies, 100 km 2D seismic, 6 wells (average 700m each)
Year 3: 9 wells (average 700m each), G&G studies
Year 4: G&G studies, 7 wells (average 700m each)

 

In the Surat Basin, PL 21 was renewed to 18/04/2019, PL 48 was renewed to 31/01/2021, PL 49 was renewed to 31/01/2021, PL 70 was renewed to 06/07/2016, PL 71 was renewed to 15/12/2014 and PL 89 was renewed to 06/12/2019.

 

In the Surat Basin, PL 7 was renewed as PL 317PL 317 was granted on 12/05/2015.  The licence will expire on 11/05/2045.

 

In the Surat Basin, PL 10 renewed as PL 320.  PL 320 was granted on 12/05/2015.  The licence will expire on 11/05/2045.

 

In the Surat Basin, PL 168 was renewed as PL 502PL 502 was granted on 25/06/2015.   The licence will expire on 24/06/2025.

 

In the Cooper Basin, PL 509 was granted on 05/05/2015.  The licence will expire on 04/05/2030.  ATP 1189 Aquitaine B Block has been reduced as a result of the grant of PL 509.

 

In the Surat Basin, PL 174 was renewed as PL 511PL 511 was granted on 19/06/2015.  The licence will expire on 18/06/2020.

 

In the Surat Basin, PL 74 was renewed as PL 512.  PL 512 was granted on 19/06/2015.  The licence will expire on 18/06/2020.

 


 

South Australia

 

In the Cooper Basin, the work program for PEL 182 has been suspended by 12 months from 17/05/2016 to 16/05/2017. The licence has had its expiry date extended to 16/05/2017.

 

In the Simpson Basin, the work programs for PEL 288 – 290 and PEL 331 have been suspended by 12 months from 02/06/2015 to 01/06/2016. The licenses have had their expiry dates extended to 31/05/2021.

 

In the Eromanga Basin, the work program for PEL 424 has been suspended by 12 months from 09/07/2015 to 08/07/2016. The licence has had its expiry date extended to 09/07/2017.

 

In the Cooper Basin, the PEL 516 Mudlalee Block and PEL 516 Shocking Block have been consolidated back into PEL 516 as the farm-in agreement between Senex Energy and Ambassador Exploration P/L has been terminated. PEL 516 will remain as Stuart Petroleum P/L 100%.

 

In the Cooper Basin, New Standard Energy has reached agreement with Sundance Energy for the sale to Sundance of New Standard’s interest in PEL 570 through the purchase of New Standard’s subsidiary.  The agreement is subject to further due diligence to be completed by Sundance within 21 days of execution and New Standard shareholder approval to be obtained at a meeting to be held in late July 2015. In conjunction with this transaction, Sundance will also immediately purchase the Company’s shareholding in Elixir Petroleum for approximately $243,000.

 

In the Otway Basin, the work program for PEL 629 has been suspended by 12 months from 02/06/2015 to 01/06/2016. The licence has had its expiry date extended to 01/09/2020.

 

In the Eromanga Basin, the work program for PEL 87 has been suspended by 12 months from 09/07/2015 to 08/07/2016. The licence has had its expiry date extended to 09/07/2017.

 

In the Cooper Basin, Beach Energy Ltd 40% and Great Artesian Oil & Gas P/L 60% have applied for PPLA 260 over 0.7 sq  km.

 

In the Otway Basin, PRL 2 has been renewed to 27/04/2020.

 

In the Cooper Basin, Acer Energy P/L has applied for PRLA 180 and PRLA 181 over 99 sq km and 78 sq km respectively.

 

In the Cooper Basin, Acer Energy P/L 75% and Bengal Energy (Australia) P/L 25% have applied for PRLA 182 over 55 sq km.

 

Sequestration

 

In the Eromanga Basin, the work programs for GSEL 612 – GSEL 625 have been suspended by 12 months from 02/06/2015 to 01/06/2016. The licenses have had their expiry dates extended to 31/05/2021.

 

In the Cooper Basin, Acer Energy P/L has applied for GSELA 659 over 178 sq km.

 

In the Cooper Basin, Acer Energy P/L 75% and  Bengal Energy (Australia) P/L 25%  have applied for GSELA 660 over 55 sq km.

 


 

Victoria

 

Offshore in the Gippsland Basin, a suspension and extension for VIC/P 57 was lodged with NOPTA on 30/06/2015.

 

Onshore in the Otway Basin, PEP 168 has had its expiry date extended to 06/06/2016.

 

Geothermal

 

Geogen Victoria P/L has surrendered all its geothermal licences that were due to expire on 30/06/2015.   These include:  EPG 56-63, EPG 64-65, EPG 67-70, EPG 72-73, EPG 75 and EPG 77-89.

 


 

Western Australia

 

In the Carnarvon Basin, WA-191-P has been renewed to 21/06/2020 over a reduced area of 325 sq km. Work program is as follows -

 

Year 1: 325 sq km 3D seismic $2.763m
Year 2: geotechnical studies $0.35m
Year 3: geotechnical studies $0.35m
Year 4: geotechnical studies $0.35m
Year 5: 1 well $20m

 

In the Dampier Basin, the year 5 work program for WA-1-P has been extended by 6 months from 29/07/2015 to 28/01/2016. The licence has had its expiry date extended to 28/01/2016.

 

In the Carnarvon Basin, WA-268-P is being renewed.

 

In the Browse Basin, INPEX Browse Ltd has agreed to transfer its interest In WA-285-P to INPEX Browse E&P P/L.

 

In the Browse Basin, WA-28-R, WA-29-R, WA-30-R, WA-31-R and WA-32-R have been renewed to 30/06/2020. WA-30-R has been renewed over a reduced area of 478 sq km. Work program for all licenses is as follows –

 

Years 1-2: commence and complete FEED
Years 3-5: continue any work to commercialise the Browse field $57-71m

 

In the Browse Basin, the year 6 work program for WA-315-P has been extended from 12/08/2015 to 31/10/2016. The licence has had its expiry date extended to 31/10/2016. A change to the year 6 work program has been approved –


Year 6
: 1well, G&G studies $26m

 

In the Browse Basin, WA-341-P is being relinquished.

 

In the Carnarvon Basin, the year 5 work program for WA-346-P has been extended by 6 months from 15/07/2015 to 14/01/2016. The licence has had its expiry date extended to 14/01/2016.

 

In the Petrel Sub Basin, WA-34-R is being renewed.

 

In the Carnarvon Basin, the year 6 work program for WA-439-P has been extended by 12 months from 17/08/2015 to 16/08/2016. The licence has had its expiry date extended to 16/08/2016.

 

In the Carnarvon Basin, the recent change of control of Apache Energy to a consortium of Macquarie Capital, Brookfield Asset Management and Wesfarmers triggered pre-emptive rights held by Karoon over Quadrant’s 50% interest in WA-482-P. Karoon has waived its rights. Also, a change to the work program has been approved -

 

Year 3: 1 well, 2375 sq km 3D PSDM seismic reproc, 5264 sq km 3D seismic $106.32m
Year 4: G&G, 5264 sq km 3D PSDM seismic processing $2.65m
Year 5: G&G $0.5m
Year 6: 1well $80m

 

In the Browse Basin, the year 2 work program for WA-485-P has been extended by 12 months from 14/05/2015 to 13/05/2016. The licence has had its expiry date extended to 13/05/2020. A change to the year 2 work program has been approved -


Year 2
: 900 sq km 3D seismic, G&G studies $7.75m

 

In the Petrel Sub Basin, Rex International Holding P/L 30% interest in WA-488-P is held by subsidiary Resonance Capital Ltd.

 

In the Carnarvon Basin, a change to the work program for WA-506-P has been approved –

 

Years 1-3: 1000 km multi-beam swath bathymetry data, 50 piston core samples, 2D & 3D seismic interpretation, 3700 sq km 3D seismic $50m
Year 4: 1 well $91m
Year 5: well analysis, 2500 sq km 3D seismic $32m
Year 6: 3D seismic interpretation, 1 well $93m

 

In the Browse Basin, WA-58-R was granted to Santos Browse P/L (operator) 30%, Chevron Australia (WA-274-P) 50% and INPEX Browse E&P P/L 20% on 28/05/2015. The licence will expire 27/05/2020.

 

In the Canning Basin, EP 453 is being relinquished.

 

In the Perth Basin, EP 455 is being renewed.

 

In the Perth Basin, the year 2 work program for EP 480 has been suspended by 22 months 05/06/2014 to 31/03/2016. The licence has had its expiry date extended to 31/03/2020. A change to the work program has been approved -


Year 2
: 1938 km geophysical survey, 50 km 2D seismic $1.773m
Year 3: 1 well $4.5m
Year 4: geotechnical studies $1.5m
Year 5: 1 well $4.5m
Year 6: geotechnical studies $1m

 

In the Canning Basin, L 20 and L 21 were granted to Buru Energy Ltd 50% (operator) and Diamond Resources (Fitzroy) P/L 50% on the 02/07/2015 for an indefinite term/life of field.

 

In the Kimberley Basin, application STP-EPA-129 has been varied and now covers a reduced area of 5,503 sq km.

 

In the Perth Basin, gazettal L 12-14 is under application as STP-EPA-132 by Unconventional Resources P/L.

 

In the Canning Basin, gazettals L 12-13 and L 12-12 are under application as STP-EPA-134 and STP-EPA-135 respectively by Goldfields Oil & Gas P/L.

 

In the Browse Basin, R2 and TR/5 have been renewed to 01/07/2020.

 


 

New Zealand

 

In the Waikato Basin, Kea has entered a conditional heads of terms, subject to contract, to sell PEP 381204 to New Endeavour Resources (NZ) Ltd for NZ$500,000. Kea will retain the right to receive a royalty of 2.5% on PEP 381204. The agreement is subject to final execution of a formal assignment agreement.

 

In the Great South Basin, PEP 50122, PEP 54873 and PEP 54876 were relinquished on the 24/06/2015.

 

In the Taranaki Basin, Kea Petroleum has conditionally agreed to sell its 70% interest in PEP 51153 to Caliera Fund Limited, a privately owned New Zealand company, for NZ$500,000. MEO has a pre-emptive right over PEP 51153. The agreement conditional upon shareholder approval and government approvals.

 

In the Taranaki Basin, PEP 52181 has undergone a partial relinquishment and now covers 219 sq km.

 

In the Taranaki Basin, PEP 54857 was relinquished on the 26/06/2015.

 

In the Reinga Basin, prospecting permit acreage PPP 56377 expired 20/06/2015.

 

 

                                                                                                                                   

For more information please contact GPinfo support on +61 2 9475 3500 or by e-mail.

To unsubscribe click here.

Pitney Bowes, Level 1, 68 Waterloo Road, Macquarie Park NSW 2113, Australia.

© 2015 Pitney Bowes Software Pty Ltd.