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June 2014

Monthly Update


The June 2014 GPinfo update is now available ...

Industry Summary

Landbridge Group
has informed the market that it has fulfilled all conditions regarding Chinese regulatory approvals in its bid to acquire 100% of WestSide Corporation. Landbridge is offering $0.40 per WestSide ...

Permit Updates and Changes

Offshore in the Sydney Basin, a suspension and extension application has been lodged with NOPTA on 12/05/2014 for PEP 11 ...
 


Monthly Update

The June 2014 GPinfo update is now available.

GPinfo 5.8.5

Following recent changes to the GPinfo Report sub-system, several users experienced an error with the Report menu not being correctly populated. GPinfo 5.8.5, which will be automatically installed with the June monthly data update, provides a fix.

If you experienced this error last month, please take another look at the Report menu.  Changes are summarised below.




1. The Company Permits report generates a list, sorted by company, of all permits in which the company
has an interest, for all selected companies.

2.  The Wells in Permits report generates a list, sorted by permit, of all wells within the permit, for all selected permits.

3.  Permit Details and Permits Ownership reports operate on selections and queries based on the Permits data layer, while Petroleum Details and Petroleum Ownership operate on sections and queries based on the Petroleum data layer.

4.  Reports are configured for display on a standard page as defined in File > Print Setup. Permit Details, Petroleum Details, Wells and Wells in Permits reports are all best suited to a landscape page orientation, while the remainder best suit portrait.

5.  To view and print the report, select the Preview option.  To export the report for display in third party software, select the Export option (creates a CSV file).

Industry Summary

Company News
 

Landbridge Group has informed the market that it has fulfilled all conditions regarding Chinese regulatory approvals in its bid to acquire 100% of WestSide Corporation. Landbridge is offering $0.40 per WestSide share, the offer has been extended to 08/07/2014. WestSide continues to recommend that shareholders take no action. (Source: Landbridge announcement, 20/05/2014 & 12/06/2014).

 

Peak Oil & Gas and Octanex have executed an implementation agreement of their proposed merger, officially announced in November last year. The two companies simultaneously entered into a loan agreement whereby Octanex would fund Peak’s budgeted outgoings until the end of 2014. Upon securing Supreme Court and shareholder approval, the proposed scheme consideration would be one Octanex share for every 24 Peak shares, with an additional Octanex share if Peak could satisfactorily sort out its dispute with Cadco over the Cadlao project in the Philippines. (Source: Peak Oil & Gas announcement, 20/05/2014).

 

Geodynamics has signed an exclusivity agreement with Beach Energy, allowing Beach 18 months to negotiate a farm-in agreement in the geothermal exploration tenements at Innamincka, South Australia (GEL 268, GEL 211, GRL 3 to GRL 12, GRL 20 to GRL 24). Over 18 months, Geodynamics will undertake a research program to investigate the use of geothermal resources to supply heat and/or power to potential gas developments in the region. Included in this research will be whether the site can contribute to management of carbon dioxide in the natural gas production process. The initial research program is scheduled to take 12 months, with Beach contributing $200,000 in research funding, to be refunded if a suitable farm-in agreement is not found in the 18 months. (Source: Geodynamics announcement, 26/05/2014).

 

Rawson Resources has formally completed the purchase of the remaining interest in Otway Energy P/L after an extraordinary general meeting led to shareholders voting in favour of the acquisition. As a result of the acquisition, Rawson is now the operator of PEL 154 and PEL 155, with 100% interest in both leases. (Source: Rawson Resources announcement, 27/05/2014).

 

Drillsearch Energy, has made an off-market takeover offer to acquire 100% of Ambassador Oil & Gas through a bid implementation agreement. Ambassador shareholders will be offered one Drillsearch share for every 5.4 Ambassador shares, implying a value of 29.3c per Ambassador share. On 10/06/2014, Magnum Hunter Resources Corporation announced its intention to make a conditional off-market takeover for Ambassador Oil & Gas. Magnum Hunter has offered one common stock for every 27.8 Ambassador shares, implying a value of 34c per Ambassador share. On 16/06/2014 Drillsearch increased the offer price to one Drillsearch share for every 5.4 Ambassador shares plus 5 cents in cash per Ambassador share. The Ambassador board has determined that Drillsearch’s revised offer is superior than the Mangum Hunter proposed offer and recommends Ambassador shareholders accept the revised offer in the absence of a superior offer. (Source: Drillsearch Energy announcement, 28/05/2014 & 16/06/2014 Magnum Hunter Resources announcement, 10/06/2014, Ambassador Oil & Gas announcement, 10/06/2014 & 16/06/2014).

 

Metgasco has received advice from the NSW Office of Coal Seam Gas that it must suspend all work on the Rosella E01 exploration well. The Government’s reason for the suspension was determined on the grounds that it did not fulfil a condition of its exploration licence, namely to undertake genuine and effective consultation with the community as required. Metgasco has filed for a judicial review of the suspension. The grounds for Metgasco’s claim are that the decision was unlawful because it was not authorised by legislation and was made without affording Metgasco procedural fairness. (Source: Metgasco announcement, 15/05/2014, 22/05/2014 & 04/06/2014).

 

Nexus Energy has failed to execute its scheme of arrangement under which Seven Group Holdings offered to take over the company, after the deal got voted down at a scheme meeting on 12/06/2014. The meeting turned up 391.9 million votes in favour of the deal and 527 million against. As a result, Nexus has called in administrators Matthew Caddy, Tony McGrath and Jason Preston of McGrathNicol to work with Nexus administrators to exert their executive authority over the company. Nexus’ nine subsidiaries will avoid administration, with the board of directors of those companies instead working with administrators and Seven Group Holdings to put in place funding arrangements to enable the Longtom, Crux and Echuca Shoals projects to continue in the Browse Basin. (Source: Energy News Premium 13/06/2014).

Developments

The Santos operated Gladstone LNG project has passed another milestone with the final section of the gas transmission pipeline laid through a tunnel underneath the Gladstone Harbour to the plant site on Curtis Island. 120 pipeline segments, each measuring 36 metres, were welded and pushed gradually through the 4.3 km tunnel using a large hydraulic jack. The tunnel was filled with seawater to give buoyance to the 42 inch line as it was pushed through. In the coming weeks the marine crossing pipe will be connected to the rest of Santos GLNG’s 420km pipeline already buried on the mainland and Curtis Island. (Source: Energy News Premium, 12/05/2014).

 

Central Petroleum has started development of its Dingo gas field in Amadeus basin in Northern Territory. The development consists of a field gathering system that will connect two production wells to a central processing plant while a 45 km pipeline will deliver the product gas to the Northern Territory government-owned Owens Spring power station. First gas sales from the field are expected to be in the first quarter of 2014. The company has also been offered a conversion of the field retention licence into a 25 year production licence. (Source: Energy News Premium, 13/05/2014).

 

The first shipment of LNG from the PNG LNG project has left Papua New Guinea bound for Japan. The cargo has been sold to Tokyo Electric Power Company Inc (TEPCO). This follows the commencement of LNG production from the first train in April 2014, and production from the second train has also started as additional wells came online. The project, operated by ExxonMobil PNG Ltd, is expected to produce more than 9 trillion cubic feet of gas over the estimated 30 years of operations. Peter Botten, Oil Search’s Managing Director said: “The start of LNG shipments from the PNG LNG project is a momentous occasion for Oil Search, our co-venture partners and Papua New Guinea. It marks the delivery of the country’s largest resource project, a project that is expected to more than double Papua New Guinea’s gross domestic product and will transform the country into a significant supplier of LNG to key neighbouring Asian markets”. (Source: Oil Search announcement, 26/05/2014).

 

Two feasible LNG concepts for the Pandora gas field in Papua New Guinea have been identified by a concept study for the project prepared by Wison Offshore and Marine. The first is a 1 mtpa floating LNG vessel incorporating gas clean-up, liquefaction and storage for 170,000 cubic meters. The other is a near-shore LNG vessel with 170,000 cubic meters storage and with sufficient topside space to accommodate up to 2.5 mmtpa of liquefaction capacity. The Pandora field contains a gross 2C resource of 792 bcf of gas. Cott has been in discussions with several parties regarding the building, ownership and operation of the LNG vessel and other key infrastructure elements. The company expects to make an announcement in the near term regarding potential non-binding agreements. (Source: Cott Oil & Gas announcement, 02/06/2014).

 

INPEX has signed a deal to sell its portion of LNG production from the Shell-operated Prelude field floating LNG project. The company has signed a heads of agreement with Tokyo Electric Power Co. and Shizuoka Gas Co. for the purchase of its 630,000 tonnes/year equity portion from Prelude for a period of 8 years starting in 2017. Tepco will take 560,000 tonnes per annum with Shizuoka taking the remaining 70,000 tpa. (Source: Energy News, 30/05/2014).

Discoveries

Beach Energy and its joint venture partner Drillsearch Energy have added to its successful drilling with discoveries in the western flank of the Cooper basin. Stunsail 1 encountered a 6 meter oil column in the Namur sandstone target plus an additional 4 meter column in the mid-Namur section and shows within the Birkhead formation. A drill stem test across a 15 meter Namur interval recovered 46 bbl of oil in a 4 hour operation equating to a rate in excess of 250 b/d. Stunsail 1 has been cased and suspended as a future oil producer. Beach estimates a gross reserve value of 1.6 mmbbls at Stunsail.
Pennington 2 was cased and suspended as a future oil producer after drilling operations intersected 10 meters of net oil pay within the McKinlay and Namur reservoirs. The next well to be drilled, Pennington North 1, found the McKinlay and Namur structures to be water-bearing but recovered 22 bbls of oil and approximately 10 bbl of water from the Birkhead formation.  The results have boosted 2P estimated gross reserves for the Pennington field to 2.7 million bbl from 1.7 million bbl. (Source: Beach Energy announcement, 02/06/2014). 

Senex Energy’s Mustang 2 appraisal well has been cased and suspended as a future Birkhead oil producer after intersecting 6.4 meters of net oil pay. The well intersected 12 meters of gross sand, which is almost twice the thickness of the reservoir section intersected at Mustang 1. (Source: Senex Energy announcement, 04/06/2014).


Permit Updates and Changes

New South Wales

Offshore in the Sydney Basin, a suspension and extension application was lodged with NOPTA on 12/05/2014 for PEP 11.

Onshore, in the Gunnedah Basin, the PEL 238 joint venture has applied for a number of new production licences:

PPLA 13 over the same area covered by PAL 2
PPLA 14
covering 158 sq km over the Dewhurst field
PPLA 15 covering 265 sq km over the Tintsfield discovery
PPLA 16 covering 241 sq km over the Dewhurst field

In the Gunnedah Basin, Ceemac P/L has applied for PELA 159 over 877 sq km and PELA 160 over 9,236 sq km.

Geothermal

In the Gunnedah Basin, EL 7507 is in the process of being renewed over a reduced area.


Northern Territory

On the Ashmore Platform, AC/P 22 is being relinquished.

In the Vulcan Basin, the AC/P 34 year 4 and year 5 work programs are now -

Year 4: geotechnical studies $0.2m
Year 5: 1 exploration well $20m

In the Bonaparte and Petrel Sub Basins, NT 13-1, NT 13-2 and NT 13-3 closed 22/05/2014 and are under consideration.

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

In the Pedirka Basin, EP 107 has been renewed to 27/09/2018.

In the Beetaloo Basin, EP 76, EP 98 and EP 117 have been renewed to 31/12/2018.

In the Pedirka Basin, Santos is in the process of withdrawing from EP 93.

In the Amadeus Basin, Central Petroleum has accepted all regulatory conditions clearing the way for the grant of L 7.


Queensland

In the Galilee Basin, ATP 529 was renewed to 30/11/2016.  Work program is as follows -

Years 1-4: 5 core holes, 250 km seismic, drill and production test 5 wells
(01/12/2012 to 30/11/2016)

In the Eromanga Basin, ATP 539 was renewed to 31/01/2017.  Work program is as follows -

Years 1-2: G&G studies comprising post drill & regional evaluations
Year 3: 1 well (to 1500m)
Year 4: G&G studies to evaluate drilling results and geophysical mapping
(01/02/2013 to 31/01/2017)

In the Bowen Basin, ATP 564 was renewed to 30/04/2018 over a reduced area of 507 sq km.

In the Surat Basin, ATP 626 has undergone a partial relinquishment and now covers a reduced area of 758 sq km.

In the Eromanga Basin, the correct expiry date for ATP 765 is 30/11/2017.

In the Georgina Basin, ATP 910 was granted to Hedges Gas P/L 100% on 30/05/2014.  The licence will expire on 31/05/2018.  Work program is as follows -

Year 1: G&G studies
Year 2: 100 km 2D seismic
Year 3: G&G studies
Year 4: 1 well to test deep gas in the Tokyo Syncline (minimum 6000m-8000m)
(01/06/2014 to 31/05/2018)

In the Eromanga Basin, ATP 913 was granted to Hedges Gas P/L 100% on 30/05/2014.  The licence will expire on 31/05/2018.  Work program is as follows -

Year 1: G&G studies
Year 2: G&G studies
Year 3: G&G studies, 100 km of 2D seismic (field survey)
Year 4: 1 well (to 2000m)
(01/06/2014 to 31/05/2018)

Also in the Eromanga Basin, ATP 915 was granted to Hedges Gas P/L 100% on 30/05/2014.  The licence will expire on 31/05/2018.  Work program is as follows -

Year 1: G&G studies
Year 2: G&G studies
Year 3: G&G studies, 100 km 2D seismic (field survey)
Year 4: 1 well (to 2000m)
(01/06/2014 to 31/05/2018)

In the Cooper Basin, ATP 948 was granted to Bow Energy P/L 100% on 20/05/2014.  The licence will expire on 31/05/2018.  Competing application ATP 947 by Cooper Energy Ltd was refused.   Work program is as follows -

Year 1: 1780 km 2D seismic reprocessing
Year 2: 100 km 2D seismic, 1 well (to 1800m)
Year 3: 1 well (to 1800m)
Year 4: 1 well (to 1800m)
(20/5/2014 to 31/05/2018)

In the Galilee Basin, ATP 991 has undergone a partial relinquishment and now covers a reduced area of 3,506 sq km.  Work program is as follows -

Year 1: G&G review, review log results & regional wells
Year 2: 1 exploration well to base of Aramac (approx. 1220m)
Year 3: review log/DST results, G&G & engineering studies
(01/09/2013 to 31/08/2016)

Also in the Galilee Basin, ATP 996 has undergone a partial relinquishment and now covers a reduced area of 2,865 sq km.  Work program is as follows -

Year 1: G&G review, remap existing seismic
Year 2: 1 exploration well to base of Aramac coal measures (approx. 1350m)
Year 3: review log/DST results, G&G & engineering studies
(01/09/2013 to 31/08/2016)

In the Eromanga Basin, ATP 999 has undergone a partial relinquishment and now covers a reduced area of 3,474 sq km.  Work program is as follows -

Year 1: G&G review, geochemical analyses & Toolebuc formation properties, prospect locations
Year 2: 1 exploration well to Toolebuc (approx. 970m), geochemical analysis
Year 3: geochemistry review, G&G & engineering studies
(01/09/2013 to 31/08/2016)

Also in the Eromanga Basin, ATP 1005 has undergone a partial relinquishment and now covers a reduced area of 2,339 sq km.  Work program is as follows -

Year 1: G&G review, geochemical analyses & distribution of Toolebuc formation properties
Year 2: 1 exploration well to Toolebuc (approx. 650m), geochemical analysis
Year 3: review geochemistry and log results, G&G & engineering studies
(01/09/2013 to 31/08/2016)

In the Galilee Basin, ATP 1008 has been relinquished and now reverts to vacant acreage.

In the Carpentaria Basin, mandatory relinquishment requirements for ATP 1087 have been deferred for 2 years under amendments to the P&G 2004 Act.  Work program is as follows:

Year 1: 4 wells (2 with 1000m laterals), 40 km seismic
Year 2: 12 wells (4 with 2000m laterals), 130 km seismic
Year 3: 12 wells (4 with 2000m laterals), 110 km seismic
Year 4: 10 wells (4 with 2000m laterals), 30 km seismic
(19/12/2012 to 31/12/2016)

Also in the Carpentaria Basin, mandatory relinquishment requirements for ATP 1107 have been deferred for 2 years under amendments to the P&G 2004 Act.

In the Galilee Basin, Queensland Energy Resources has applied to divide ATP 1015 into three new licences -

ATP 1179
over 875 sq km held by Comet Ridge Galilee 20% and Queensland Energy Resources P/L 80%
ATP 1180 over 717 sq km held by Queensland Energy Resources P/L 100%
ATP 1181 over 2,521 sq km held by Queensland Energy Resources P/L 100%

In the Cooper Basin, PL 97 is being renewed as PL 508.

In the Eromanga Basin, production licence PL 484 over the Byrock field was granted on 17/04/2014.  The licence will expire on 16/04/2019.  As a result, exploration permit ATP 269 now covers a reduced area of 620 sq km.

In the Surat/Bowen Basin, production licences PL 505 (213 sq km), PL 506 (232 sq km) and PL 507 (216 sq km) will replace PL 400, PL 402, PL 463 and most of PL 397 when granted.


South Australia

In the Cooper Basin, CO2013-A, CO2013-B, CO2013-C and CO2013-D closed 29/05/2014 and are under consideration.

In the Gawler Block, PEL 126 has been granted to Energy Exploration Ltd on 28/04/2014. The licence will expire on 27/04/2019. 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: 1 well

Also in the Gawler Block, PEL 153 has been granted to Energy Exploration Ltd on 28/04/2014. The licence will expire on 27/04/2019. 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: 1 well

In the Otway Basin, Rawson Resources has formally completed the purchase of the remaining interest in Otway Energy P/L after an extraordinary general meeting led to shareholders voting in favour of the acquisition. As a result of the acquisition, Rawson is now the operator of PEL 154 and PEL 155 with 100% interest in both leases.

In the Eromanga Basin, a 6 month suspension has been granted to PEL 512 from 09/05/2014 to 08/11/2014. The licence has had its expiry date extended to 27/04/2018.

In the Murray Basin, PEL 558 is being relinquished.

In the Eromanga Basin, PEL 88 has undergone a partial relinquishment due to the grant of PRL 50 to PRL 66. The permit now covers 1,642 sq km.

In the Adelaide Fold Belt, the PELA 582 application area has been extended and now covers 8,697 sq km.

In the Cooper Basin, the expiry date for PPL 233 has been extended to 26/11/2014.

In the Cooper Basin, Santos Ltd has applied for PPLA 252 over the Cartman field.

In the Cooper Basin, Beach Energy Ltd 40% and Great Artesian Oil & Gas P/L 60% have applied for -

PPLA 253 over the Greater Bauer field
PPLA 254 over the Congony and Kalladeina fields
PPLA 255 over the Hanson and Snellings fields
PPLA 256 over the Sceale field

In the Cooper Basin, PRL 105 to PRL 107, PRL 116 and PRL 117 have been granted to Victoria Oil Exploration (1977) P/L 55% and Stuart Petroleum P/L 45% on 12/05/2014. The licenses will expire on 11/05/2019.

In the Cooper Basin, PRL 108 to PRL 110 have been granted to Stuart Petroleum Cooper Basin Oil P/L 50% (operator) and PNC Aust P/L 50% on 12/05/2014. The licenses will expire on 11/05/2019.

In the Cooper Basin, PRL 33 to PRL 49 have been granted to Beach Energy Ltd 70% and Chevron Australia Exploration 1 P/L 30% on 29/04/2014. The licenses will expire on 28/04/2019.

In the Cooper Basin, PRL 50 to PRL 66 have been granted to Victoria Oil Exploration (1977) P/L 12/05/2014. The licenses will expire on 11/05/2019.

In the Cooper Basin, PRL 67 to PRL 84 have been granted to Stuart Petroleum P/L on 12/05/2014. The licenses will expire on 11/05/2019.

Geothermal

In the Cooper Basin, Geodynamics has signed an exclusivity agreement with Beach Energy, allowing Beach 18 months to negotiate a farm-in agreement in the geothermal exploration tenements at Innamincka - GEL 211, GEL 268, GRL 3 to GRL 12 and GRL 20 to GRL 24.

In the Cooper Basin, 12 month suspensions have been granted to GEL 267, GEL 269 and GEL 273 from 03/06/2014 to 02/06/2015. The licenses have had their expiry dates extended to 22/05/2017.

In the Cooper Basin, 12 month suspensions have been granted to GEL 316, GEL 317 and GEL 320 from 01/06/2014 to 31/05/2015. The licenses have had their expiry dates extended to 01/06/2017.

In the Adelaide Fold Belt, GEL 486 to GEL 490 and GEL 497 have been consolidated as GEL 486. GEL 486 now covers 2,938 sq km.

In the Arrowie Basin, the interests in GEL 559 are held by held by subsidiary Torrens Energy (SA) P/L.

In the Gawler Block, 12 month suspensions have been granted to GEL 563 to GEL 565 from 18/05/2014 to 17/05/2015. The licenses have had their expiry dates extended to 17/05/2017.

Sequestration

In the Eromanga Basin, GSEL 633 has been granted to Beach Energy Ltd 70% and Chevron Australia Exploration 1 P/L 30% on 29/04/2014. The licence will expire on 28/04/2019. 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, GSEL 634 has been granted to Beach Energy Ltd 75% and Cooper Energy 25% on 06/05/2014. The licence will expire on 05/05/2019. 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


Tasmania

Offshore in the Gippsland Basin, T12-2 closed on 22/05/2014 and is currently under consideration.


Victoria

Offshore in the Gippsland Basin, V 13-2 closed on 22/05/2014 and is currently under consideration.

Also in the Gippsland Basin, 3D Oil has executed a non-binding Heads of Agreement  with Carnarvon Hibiscus P/L, Althea Corp Ltd and HiRex Petroleum Sdn Bhd in relation to VIC/L 31.   HiRex is owned 41% by each of Hibiscus and Rex International Holding Ltd.  Within one day of executing the HOA, Carnarvon Hibiscus will transfer $US 600,000 to 3D Oil for working capital purposes with a further $US1.4 million to be transferred on signing of final agreements (within 40 days of the HOA).  The funds are repayable to the JV without interest within 8 months of signing final agreements.  3D Oil’s current obligations to the VIC/L 31 JV will be funded through the dilution of 3D Oil’s current 49.9% equity.  This payment in equity will be made pro rata with the Fair Market Value.  Under the HOA, Carnarvon Hibiscus will have a limited time option to purchase all of 3D Oil’s interest in VIC/L 31 at fair market value.  Final agreements are subject to shareholder approval and independent expert review.

3D Oil has also executed a non-binding Heads of Agreement  with Carnarvon Hibiscus P/L, Althea Corp Ltd and HiRex Petroleum Sdn Bhd with relation to VIC/P 57.  Carnarvon Hibiscus P/L will purchase the Britannia rig from the JV and the resulting funds will be committed to drilling an exploration well in VIC/P 57 to meet the Year 3 permit commitment.  The rig proceeds will cover $US7.5m of 3D Oil’s expenditure on the well.  Carnarvon Hibiscus will take up a further 5% interest in VIC/P 57.  In addition, HiRex Petroleum will apply its Virtual Drilling technology to 3D seismic in the licence will have the option to take up a 20%.  Final agreements are subject to shareholder approval and independent expert review.

Onshore, in the Otway Basin, PEP 168 has had its expiry date extended to 06/06/2015.

Also in the Otway Basin, PEP 174 has had its expiry date extended to 16/10/2018.


Western Australia

In the Carnarvon Basin, W 12-11, W 13-6 and W 13-7 closed 22/05/2014 and are under consideration.

In the Rowley Sub-basin, W 12-7 closed 22/05/2014 and is under consideration.

In the Perth Basin, W 13-19 and W 13-20 have been re-released and now close 02/10/2014.

In the Carnarvon Basin, W 13-8 has been re-released and now closes 02/10/2014.

In the Browse Basin, an offer has been made for W 13-3 and acceptance is pending.

In the Browse Basin, W 13-4 and W 13-5 closed 22/05/2014 and are under consideration.

In the Carnarvon Basin, WA-255-P is being renewed.

In the Bonaparte Basin, the year 5 work program for WA-313-P has been extended by 12 months from 16/06/2014 to 15/06/2015. The licence has had its expiry date extended to 15/06/2015. Furthermore, a location was declared over Penguin on 27/05/2014.

In the Browse Basin, Karoon has entered a binding sale and purchase agreement with Origin Energy Ltd to sell its 40% interest in WA-315-P and WA-398-P for up to $US800 million. ConocoPhillips and PetroChina retain pre-emption rights for a limited period. The agreement remains subject to normal regulatory approval and is expected to complete during Q3 2014. Furthermore, the year 6 work program for WA-315-P has been extended by 12 months from 12/08/2014 to 11/08/2015. The licence has had its expiry date extended to 11/08/2015.

In the Carnarvon Basin, location WA-346-P LT was declared over Thebe on 02/05/2014.

In the Carnarvon Basin, the year 4 work program for WA-351-P has been extended by 6 months from 28/06/2014 to 27/12/2014. The licence has had its expiry date extended to 27/12/2015.

In the Petrel Sub-basin, the year 5 work program for WA-407-P has been extended by 12 months from 19/01/2014 to 18/01/2015. The licence has had its expiry date extended to 18/01/2016.

In the Browse Basin, the year 3 work program for WA-408-P has been extended by 12 months from 16/04/2014 to 17/04/2015. The licence has had its expiry date extended to 17/04/2016.

In the Browse Basin, the year 6 work program for WA-410-P has been extended by 6 months from 05/05/2014 to 04/02/2015. The licence has had its expiry date extended to 04/02/2015.

In the Carnarvon Basin, WA-421-P is being renewed.

In the Bonaparte Basin, the year 5 work program for WA-420-P has been extended by 12 months from 13/11/2013 to 12/11/2014. The licence has had its expiry date extended to 12/11/2015.

In the Bonaparte Basin, the year 6 work program for WA-421-P is now - seismic interpretation, geotechnical studies - $0.25m.

In the Bonaparte Basin, the year 5 work program for WA-422-P has been extended by 7 months from 13/11/2013 to 12/06/2014. The licence has had its expiry date extended to 12/06/2015. Furthermore, National Oil Corporation has acquired 5% interest from Nations Natural Gas P/L.

In the Carnarvon Basin, WA-445-P is being relinquished.

In the Browse Basin, the year 5 and 6 work programs for WA-447-P are now -

Year 5: 2000 sq km 3D pre-stack depth migration processing $0.5m
Year 6: 2000 sq km 3D pre-stack depth migration processing, geotechnical studies $0.8m

In the Browse Basin, the year 5 and 6 work programs for WA-449-P are now -

Year 5: 500 sq km 3D pre-stack depth migration processing $0.2m
Year 6: 500 sq km 3D pre-stack depth migration processing, geotechnical studies $0.5m

In the Carnarvon Basin, a location was declared over Olympus on 23/05/2014 and the year 5 and 6 work programs for WA-450-P are now -

Year 5: geotechnical studies $0.15m
Year 6: 1 exploration well $28.18m

In the Barrow Basin, WA-453-P is being relinquished.

In the Browse Basin, the year 2 work program for WA-471-P has been extended by 12 months from 04/05/2014 to 03/05/2015. The licence has had its expiry date extended to 03/05/2019.

In the Carnarvon Basin, BHP Billiton Petroleum (Australia) P/L has farmed into WA-480-P for 55% and operatorship.

In the Carnarvon Basin, Karoon Gas has entered into an agreement with Apache Northwest P/L to farm-out a 50% interest in WA-482-P. Apache will acquire a 50% interest in the permit on the following terms: pay Karoon US$9.04 million; fund 90% of the drilling costs for one exploration well; assume operatorship of the permit; and commit to drill an exploration well in the first half of 2015.

In the Barrow Basin, the year 1 work program for WA-486-P has been extended by 14 months from 15/05/2014 to 14/07/2015. The licence has had its expiry date extended to 14/11/2019.

In the Browse Basin, W 13-2 has been granted as WA-502-P to Santos Browse P/L 60% operator and INPEX Browse E&P P/L 40% on 16/05/2014. The licence will expire on 15/05/2020. Work program is as follows –

Year 1: 496.9 sq km Caswell MC3D seismic survey $5.6m
Year 2: G&G studies $0.5m
Year 3: G&G studies $1m
Year 4: 1 well $80m
Year 5: G&G studies $0.3m
Year 6: commercial studies $0.3m

In the Dampier Basin, W 13-11 has been granted as WA-503-P to Neon Energy Ltd on 13/05/2014. The licence will expire 12/05/2020. Work program is as follows –

Year 1: 80 sq km 3D seismic $1m
Year 2: G&G studies $0.25m
Year 3: G&G studies $0.3m
Year 4: 1 well $22.5m
Year 5: geological & petrophysical studies $0.3m
Year 6: geological & petrophysical studies $0.2m

In the Petrel Sub Basin, Tap (Shelfal) P/L has transferred its interest in WA-34-R to Tap (Bonaparte) P/L.

In the Carnarvon Basin, Chevron TAPL has transferred 1.25% to Osaka Gas Gorgon P/L, 1% to Tokyo Gas Gorgon P/L and 0.417% to Chubu Electric Power Gorgon P/L in WA-53-R.

In the Carnarvon Basin, WA-55-R has been granted to Apache Northwest P/L 80% and Harriet (Onyx) P/L 20% on 06/05/2014. The licence will expire on 05/05/2019.

In the Browse Basin, WA-344-P L has been granted as WA-56-R to INPEX Browse E&P P/L 60% and Total E&P Australia 40% on 05/06/2014. The licence will expire on 04/06/2019.

In the Carnarvon Basin, EP 325 is being renewed.

In the Barrow Basin, EP 357 is being renewed.

In the Perth Basin, the Supreme Court of Western Australia has ruled in favour of Empire on the Wharf Resources dispute. Wharf’s 10% interest in EP 389 has been split between the joint venture on a pro-rata basis. Empire now holds 76.39% and ERM 23.61%.

In the Perth Basin, Key Petroleum and Caracal Exploration have executed a binding farm-out agreement with Rey Oil and Gas for EP 437. Rey will earn 43.47% in the permit by contributing 86.94% of the costs of drilling the Dunnart 2 exploration well, capped at $1.7 million.

In the Canning Basin, EP 438 has been renewed to 15/05/2019 over a reduced area of 1,502 sq km. Work program is as follows -

Year 1: seismic reprocessing $0.15m
Year 2: 50 km 2D seismic $0.3m
Year 3: seismic interpretation $0.25m
Year 4: 1 well $5m
Year 5: geotechnical studies $0.1m

In the Perth Basin, the year 6 work program for EP 455 has been extended by 12 months from 22/06/2014 to 21/06/2015. The licence has had its expiry date extended to 21/06/2015.

In the Carnarvon Basin, L 11-6 has been granted as EP 490 to Carnarvon Petroleum Ltd on 28/05/2014. The licence will expire on 27/05/2020. Work program is as follows -

Year 1: 500 sq km 3D seismic reprocessing, mapping & interpretation $0.7m
Year 2: G&G studies $0.1m
Year 3: environmental & engineering studies $0.4m
Year 4: 1 well $6m
Year 5: geoscientific studies $2m
Year 6: 1 well $6m

In the Carnarvon Basin, L 11-7 has been granted as EP 491 to Carnarvon Petroleum Ltd on 28/05/2014. The licence will expire on 27/05/2020. Work program is as follows –

Year 1: 400 km 3D seismic reprocessing, geotechnical studies $0.6m
Year 2: geotechnical studies $0.1m
Year 3: environmental & engineering studies $0.4m
Year 4: 1 well $6m
Year 5: geoscientific studies $2m
Year 6: 1 well $6m

In the Perth Basin, L 1 and L 2 are being renewed.

In the Carnarvon Basin, special prospecting authority SPA 9 AO is under application as STP-EPA-127.

In the Perth Basin, STP-EPA-62 has been withdrawn.

In the Officer Basin, STP-EPA-8 and STP-EPA-9 have been refused.

In the Carnarvon Basin, STP-SPA-22 has been withdrawn.

In the Carnarvon Basin, T 11-3 has been granted as TP/27 to Carnarvon Petroleum Ltd on 28/05/2014. The licence will expire on 27/05/2020. Work program is as follows –

Year 1: 500 sq km 3D seismic reprocessing, mapping & interpretation $0.7m
Year 2: G&G studies $0.1m
Year 3: environmental & engineering studies $0.4m
Year 4: 1 well $6m
Year 5: geoscientific studies $2m
Year 6: 1 well $6m

In the Barrow Basin, TR/6 is being renewed.

Geothermal

In the Perth and Carnarvon Basins, GEP 14 and GEP 30 to GEP 36 were cancelled by the DMP on 30/05/2014
.


New Zealand

In the Canterbury Basin, PEP 38264 is being renewed.

In the Taranaki Basin, PEP 38451 is being renewed.

In the Taranaki Basin, PEP 51313 has been renewed to 29/07/2021. Work program is as follows –

12 months: 1000 km 2D seismic reprocessing, 200 sq km 3D seismic
24 months: 600 km 2D seismic, 200 sq km 3D seismic reprocessing
36 months: 600 km 2D seismic reprocessing
40 months: 100 sq km 3D seismic
54 months: 250 sq km 3D seismic
60 months: 1 well
108 months: 1 well, 100 sq km 3D seismic
120 months: 1 well
144 months: 1 well


Papua New Guinea

PPL 233
expired on 10/06/2014.

Production licence PDL 10 was granted over the Stanley field on 30/05/2014.

Production licence application PDL 11 covering 428 sq km is pending over the Mananda field.

An application for a production licence has been submitted over retention lease PRL 11.


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