GPinfo Update

 

June 2015

 

Monthly Update

 

The June 2015 data update is now available …

 

2015 Petroleum Permits of Australasia Map & Book

 

The 2015 editions of the Petroleum Permits of Australasia Map and Book were released at the APPEA Conference in Melbourne last month and are now available …

 

Industry Summary

 

The proposed PNG constitutional amendment to ownership of carbons and minerals has passed its first reading and vote in Parliament yesterday by 80 votes to five …

 

Permit Updates and Changes

 

Offshore in the Sydney Basin, a suspension, extension and variation on PEP 11 was lodged with NOPTA on 25/05/2015 …

 


 

Monthly Update

 

The June 2015 GPinfo data update is now available.
 


 

2015 Petroleum Permits of Australasia Map & Book

 

The 2015 editions of the Petroleum Permits of Australasia Map and Book were released at the APPEA Conference in Melbourne last month and are now available by mail order from our Sydney office. 

 

 

 Click here to download a copy of the order form.

 


 

Industry Summary

 

Company News

 

The proposed PNG constitutional amendment to ownership of carbons and minerals has passed its first reading and vote in Parliament yesterday by 80 votes to five. The proposed law also covered the consolidation and commercialisation of State-owned business.  As a result, the following State-owned entities already in existence will become the Kumul Companies.  NCPC Holdings Limited will by name change become Kumul Petroleum Holdings Limited.  NCPC Holdings is currently a subsidiary of IPBC and the holding company for much of the State’s oil and gas assets, including shares of the National Petroleum Company of PNG (Kroton) which holds the State 16.57% participating interest in the PNG LNG Project.  Petromin PNG Holdings Limited will become Kumul Mineral Holding Limited.  At the right time, it will transfer its oil and gas interests to Kumul Petroleum Holdings and will also receive the State’s mineral assets and interests including shares in Ok Tedi Mining Limited.  IPBC will be named Kumul Consolidated Holdings.  Shares it holds in NCPC will be transferred to the Kumul Petroleum Trustee to create the Kumul Petroleum Holdings Group.  (Source:  Prime Minister’s Office PNG, 05/06/2015).

 

Empire Oil & Gas is pleased to advise that it has sold its remaining tenements in Western Australia’s Carnarvon Basin. Under the deal, Empire has sold its subsidiary Rough Range Oil P/L, which holds the Carnarvon Basin tenements, to private company Kestrel Petroleum P/L for a small cash payment and a royalty on future production. (Source: Empire Oil & Gas announcement, 11/05/2015).

 

Repsol has completed the acquisition of Talisman Energy Inc, effective as of 08/05/2015. Under the terms of the previously announced plan of arrangement, Repsol has acquired, through its indirect wholly-owned Canadian subsidiary Repsol Energy Resources Canada Inc, the ownership of all of the outstanding common shares of Talisman at a price of US$ 8.00 per share and all of the outstanding preferred shares of Talisman at a price of CDN$ 25.1093 per share. (Source: Talisman Energy announcement, 08/05/2015).

 

Oil Basins, as operator of retention lease R1, commissioned an independent study by 3D-GEO which has led to a significant reserve upgrade of the offshore Cyrano field in the Carnarvon Basin. The upgraded reserves profile includes 2.18 mmbbls of oil in 1P recoverable reserves, 3.01 mmbbls in 2P and 3.89 mmbbls in 3P. Oil Basins said new mapping indicated the Barrow reservoir oil resources over Greater Cyrano are split into three discrete oil pools comprising: Cyrano Central, Cyrano East and Cyrano West. (Source: Oil Basins announcement, 18/05/2015).

 

Real Energy has signed a non-binding Letter of Intent (LOI) with explosives and fertiliser producer Incitec Pivot for long term gas supply. The LOI sets out timelines and some key terms for the supply of gas from Real Energy’s ATP 927P project in the Cooper Basin, Queensland. Incitec Pivot and Real Energy have agreed to work together with the aim of establishing a binding and unconditional Gas Sale Agreement and these negotiations are continuing to advance. (Source: Real Energy announcement, 18/05/2015).

 

Metgasco Ltd advises that the NSW Government will not appeal a Supreme Court decision to overturn the suspension of Metgasco’s Rosella E01 well drilling approval. The NSW Government had until 22/05/2015 to lodge an appeal. “The Supreme Court decision, handed down on April 24, was strongly in Metgasco’s favour, finding against the government on all three major points, any one of which was sufficient to overturn the suspension order,” Metgasco managing director Peter Henderson said. Henderson said he now wanted to meet with government to discuss the damage caused to Metgasco as a result of the suspension decision and the future of the gas industry in the Clarence area. (Source: Metgasco announcement, 25/05/2015).

 

AGL Energy has entered a gas transportation agreement (GTA) with Jemena to purchase pipeline capacity on the Eastern Gas Pipeline (EGP) for a period of 15 years. Starting in 2016, the GTA helps underpin the midline compression capacity expansion of the EGP and enables AGL to secure competitive foundation customer haulage tariffs to NSW and ACT. The GTA, together with existing contracted pipeline capacities, positions AGL with flexible haulage capability to move contracted Victorian gas to meet customers’ requirements in the NSW and ACT to at least 2020, AGL said. (Source: Energy News Bulletin, 19/05/2015).

 

Marathon Resources is pleased to announce that shareholders have voted in favour of the acquisition of ARP TriEnergy P/L at a General Meeting held on 27/05/2015. Former Marathon shareholders will retain 40% of company, while the ARP TriEnergy shareholders will own 60% of Marathon.  Marathon now owns 100% of the Leigh Creek project and will attempt to commercialise its in-situ coal gasification technology in those coal fields. (Source: Energy News Premium, 28/05/2015).

 

Apache Corporation today announced it has completed the previously disclosed sale of its Australian subsidiary Apache Energy Ltd to a consortium of private equity funds managed by Macquarie Capital Group and Brookfield Asset Management Inc. Total proceeds of $1.9 billion are net of $225 million in customary, post-closing adjustments for the period between the effective date, 1/10/2014, and closing. Apache Energy Ltd has been renamed Quadrant Energy Ltd. Quadrant Energy retains the same executives and employees as under Apache's ownership. (Source: Apache Corporation announcement, Energy News Premium, 05/06/2015).

 

MEO Australia Ltd notes that the offer by Mosman Oil and Gas to acquire all of the fully paid ordinary shares in MEO expired 12/06/2015. Mosman’s offer has been unsuccessful. As of 05/06/2015, Mosman had received acceptances for only 2.047% of MEO shares. If there is any material change in the final acceptances, MEO will advise the market. (Source: MEO announcement, 15/06/2015).

 

Developments

 

Mooring installation works have started at the Ichthys field in Western Australia’s Browse Basin as part of the ongoing offshore installation campaign. The first of 49 foundation piles were driven into the seabed late last week in 250 metres of water. Each pile is about 66 metres long and weighs more than 450 tonnes. The mooring work is being carried out in preparation for the arrival of the central processing facility and the floating production, storage and offloading vessel. As part of the offshore installation work, project operator Inpex is overseeing the installation of more than 30,000 tonnes of subsea infrastructure and equipment across Ichthys field. As of May 2015, 47 km of flowlines have been laid down along with more than 30 flowline sleeper structures and a 6,500-tonne riser support structure. (Source: Energy News Bulletin, 11/05/2015).

 

The Apache Energy-Inpex joint venture’s Coniston oil field, which straddles licences WA-35-L and WA-55-L offshore Western Australia, has been brought on stream 2 years later than scheduled. The project includes development of Coniston field and nearby Novara field via a subsea tieback to systems already in place for Van Gogh field. The development also makes use of Van Gogh’s Ningaloo Vision floating production, storage and offloading vessel, which was recently modified for the subsea hook-up in Singapore. The vessel can process 150,000 bopd of liquids, which includes 63,000 bopd of oil. It has storage capacity for 540,000 bbl of oil. The new development includes six Coniston production wells and one production well at Novara connected to a new subsea manifold at Coniston and a pipeline end manifold at Novara. Coniston is expected to flow at 18,000 bopd and has reserves estimated at 15.7 million barrels. (Source: Energy News Premium, 12/05/2015).

 

Cooper Energy and Santos have moved the Sole gas field project in onshore Victoria into the front end engineering and design (FEED) phase ahead of a final investment decision (FID) next year. The decision to progress the project comes after Cooper Energy’s 50% acquisition in the gas field and Orbost gas plant from Santos was finalised. Completion of the acquisition has also resulted in Cooper Energy booking 2C contingent resources of 106 pj of sales gas. Cooper Energy said gas market offtake contracts and finance for project construction would be developed in parallel with the FEED. Cooper Energy has assessed the Sole gas field to contain a Contingent Resource (2C) of 211 pj of sales gas. Whilst project development and costing will be determined by the FEED process, the field is expected to provide gas supply of approximately 25 pj per annum over 8 years after commissioning in late 2018. The Santos-operated VIC/RL3 joint venture is targeting FID in the September quarter of 2016. (Source: Cooper Energy announcement, 25/05/2015).

 

BG Group subsidiary QGC has assumed operational control of the Queensland Curtis LNG Project from Bechtel Australia. The transfer of operational control of train 1 marks the start of commercial operations at QCLNG, located on Queensland’s Curtis Island. QCLNG’s Train 2 is currently under construction, and is expected to start operations in the third quarter of 2015. In addition, BG Group has completed the sale of its 543 km pipeline network linking its Bowen-Surat Basin CSG fields with the newly commissioned QCLNG export facility to APA Group. The final price for the BG line was $5.9 billion and APA has renamed it the Wallumbilla-Gladstone pipeline. (Source: Energy News Premium, 22/05/2015 and 04/06/2015).

 

The Bonaparte FLNG Project is reportedly back on the table, this time using a barge-based design to halve capital expenditure costs to around $US5 billion ($A6.3 billion). The near-shore design that is now being contemplated by Engie, the former GDF Suez, and Santos could make floating LNG competitive again for the Bonaparte venture, even after they abandoned their original floating LNG plans almost 12 months ago. The cheaper FLNG barge will still target 2 mtpa, not too far off the initial target of 2.4 mtpa, and will be reportedly installed at site on the Northern Territory shoreline where it will be safe from the wild seas. (Source: Energy News Premium, 20/05/2015).

 

Woodside Chief Executive Peter Coleman revealed at the APPEA Conference in Melbourne that the Browse Project was expected to enter into the front end engineering and design (FEED) stage in the middle of the year, potentially targeting Final Investment Decision by the end of 2016 while a potential start up would be after 2020 at the earliest. Furthermore, the Woodside-led Browse LNG joint venture has confirmed that James Price Point, which was already rejected as a plant location with the project becoming a proposed floating LNG development, will not be considered as potential supply base to the project either. The JV has no plans for using a new supply base in the Kimberley which was confirmed when Woodside released the supplement to the draft environmental impact statement for Browse this week.  The potential supply chain and logistic support locations that are being considered were listed as the ports of Fremantle, Dampier and Broome, the airports of Karratha, Derby and Broome plus the Broome International Airport managed Djarindjin/Lombadina Airbase. (Source: Energy News Premium, 21/05/2015 and 22/05/2015).

 

INPEX has awarded a multi-year, multi-million dollar contract to Atlas Knowledge to provide training for production workers involved in the Ichthys LNG Project. The agreement will see Atlas develop and deliver custom-made training modules and online 3D models of the Ichthys project’s onshore and offshore production facilities, as well as in-depth process training for the specific systems and equipment used at each asset. The e-learning provider will provide all personnel in the integrated operations team with an understanding of the plant, equipment, materials and their associated hazards associated with the Ichthys LNG Project. (Source: Energy News Bulletin, 02/06/2015).

 

Global Construction Services has scored an extension to its scaffolding contract over all of Woodside Petroleum’s North West Shelf Project operations. The three year contract, agreed to in June 2013, will be extended until 31/12/2017 with two further 12-month extension options. The scope of the contract variation is for the ongoing supply, maintenance, storage, transport and handling of all scaffolding equipment on the North West Shelf’s onshore and offshore locations. (Source: Woodside announcement, 05/06/2015, Energy News Bulletin, 08/06/2015).

 

Santos has started up all three of the natural gas compression hubs at its US$18.5 billion Gladstone LNG Project on Queensland’s Curtis Island, marking the end of the first phase of gas field construction. The milestone comes after testing of the third and final hub, near Roma, was completed and handed over to the long-term operations team. Santos Queensland vice president Trevor Brown said the construction and commissioning of the hubs was a significant milestone on its pathway to first LNG production. (Source: Energy News Bulletin, 05/06/2015).

 

Discoveries

 

Beach Energy and Cooper have reported that the Callawonga 11 oil appraisal well in PPL 220 on the western flank of the Cooper Basin, South Australia, is to be cased and suspended after reaching a total depth of 1,733 metres in the Hutton Sandstone. After the completion of wireline logging operations a gross oil column of 4.3 metres is interpreted in the McKinlay Member and Namur Sandstone primary targets at Callawonga 11. (Source: Cooper Energy announcement, 13/05/2015).

 

The Wet Gas joint venture with Santos and Drillsearch successfully drilled the eighth and final well of the FY2015 campaign, with Moonanga South 1 becoming the joint venture's seventh discovery of the financial year. Excellent gas shows were observed across the Patchawarra Formation from 2,597 to 3,115 metres, with elevated gas readings observed across both sandstones and coals. Drillsearch's preliminary interpretation of wireline logs calculated approximately 4.3 metres of net pay across two zones in the Patchawarra Formation within a gross interval of 518 metres. Stacked reservoirs were identified and, in addition to the conventional pay, several zones with potential for unconventional pay were also observed. As a result, Moonanga South 1 was cased and suspended as a future producer. (Source: Drillsearch announcement, 11/06/2015).

 

AWE Ltd advises that wireline log and pressure data from the Waitsia 1 appraisal well confirm a 95 metre gross gas column across three conventional reservoir intervals in the newly discovered Waitsia field. Conventional net gas pay for the well is interpreted to be 18 metres with average porosity of 18%. The data acquired so far support the gross 2C contingent resource estimate of 290 bcf of gas for the Waitsia field, and the thickening of the net conventional gas pay in Waitsia 1 indicates considerable potential upside. Following further evaluation and testing, it is expected that Waitsia 1 will be completed and suspended as a future production well with potential plans for future flow testing. (Source: AWE announcement, 16/06/2015).

 

Origin Energy and its BassGas joint venture partners have completed drilling of the Yolla 6 development well as part of the Mid-Life Enhancement project. Yolla 6 successfully intersected the primary reservoir targets located in the Palaeocene EVCM sands. The well has been logged and preparations are in place to case and complete the well before being commissioned for production and tied-in to the Yolla facility. (Source: AWE announcement, 11/05/2015).

 


 

Permit Updates and Changes

 

New South Wales

 

Offshore in the Sydney Basin, a suspension, extension and variation on PEP 11 was lodged with NOPTA on 25/05/2015.

 

In the Sydney Basin, production licences PPL 2, PPL 4, PPL 5 and PPL 6 have had minor variations to their areas.

 


 

Northern Territory

 

In the Vulcan Sub Basin, AC/P 34 is being relinquished.

 

In the Vulcan Sub Basin, AC/P 50 has been renewed to 18/05/2020 over a reduced area of 672 sq km. Work program is as follows –

 

Year 1: G&G studies $0.25m
Year 2: 567 sq km 3D seismic reprocessing $0.25m
Year 3: G&G studies $0.25m
Year 4: 1 well $20m
Year 5: G&G studies $0.25m

 

In the Vulcan Sub Basin, AC/P 51 has been renewed to 18/05/2020 over a reduced area of 587 sq km. Work program is as follows –

 

Year 1: G&G studies $0.25m
Year 2: 619 sq km 3D seismic reprocessing $0.4m
Year 3: G&G studies $0.25m
Year 4: 1 well $20m
Year 5: G&G studies $0.25m

 

In the Bonaparte Basin, a location application has been lodged for NT/P 68. The year 5 work program has been extended by 6 months from 27/04/2015 to 26/10/2015.  The licence has had its expiry date extended to 26/10/2015. A change to the year 5 work program has been approved –


Year 5: engineering & geotechnical studies $0.55m

 

In the Amadeus Basin, Central Petroleum has agreed to acquire a 50% interest and assume Operatorship in the Mereenie Oil & Gas Field OL 4 and OL 5 from Santos. Under the agreement, Central will pay $45 million in cash to Santos, with $35 million on financial close and $10 million to be paid in June 2016. Santos also has the right to acquire a 50% interest in EP (A) 111 and EP (A) 124 and Central will assume the acreage in the area of EP 82 to the north of the Dingo field. The acquisitions are subject to regulatory approvals.

 


 

Joint Petroleum Development Area

 

JPDA 06-103 has had a further extension and will now expire on 15/07/2015. Oilex has received a Notice of Intent to Terminate the licence from the ANP. The ANP recently rejected the JV's request to terminate the PSC by mutual agreement and without penalty or claim. The Notice asserts a monetary claim against the JV for payment of the estimated cost of exploration activities not carried out in 2013 and certain local content obligations set out in the PSC. The total amount sought is approximately US$17 million.  The JV is required to submit a formal response by 12/06/15.

 

Hibiscus Petroleum has terminated its agreement to acquire Talisman Resources (JPDA 06-105) P/L and its interest in JPDA 06-105. Under the agreement, the parties had until 31/05/15 to satisfy or waive various conditions. As these were not fully satisfied or waived, Hibiscus issued a written notice to terminate the agreement.

 


 

Queensland

 

Offshore in the Gulf of Carpentaria, Q/23P is in the process of being renewed.

 

Onshore in the Galilee Basin, AGL Energy has reached agreement to transfer 50% of ATP 529 to Galilee Energy for no upfront cost to Galilee.  AGL will contribute $590,000 to Galilee to support future operations at Glenaras.  The transaction is subject to the finalisation of a formal sale and purchase agreement, audits into the asset, and Queensland Government approval.

 

In the Eromanga Basin, ATP 594 has been renewed to 16/04/2019.  Work program is as follows –

 

Year 1: desktop studies, G&G review, 200 sq km 3D seismic
Year 2: desktop studies, drilling preparation
Year 3: 1 conventional well (to 1600m)
Year 4: desktop studies

 

In the Bowen Basin, ATP 1079 has had its licence term extended to 31/01/2019.

 

On the Mt Isa Block, a work program amendment was approved for ATP 1087 on 06/02/2015.  Amended work program is as follows –

 

Year 1: 300 km 2D seismic, deepen 2 wells, 1 well to 2000m
Year 2: 1 well to 2000m, stimulate/test 2 wells
Year 3: 1 well to 2000m, stimulate/test 1 well
Year 4: 25 sq km 3D seismic, 1 well,1 lateral, stimulate/test 1 well
(19/12/2012 to 31/12/2016 ext to 31/12/2018)

 


 

South Australia

 

In the Ceduna Basin, BP is planning to cut its stake in the Great Australian Bight-based joint venture EPP 37, EPP 38, EPP 39 and EPP 40 from 70% to around 40-50%. The company would likely begin a farm-out process in the second half of this year.

 

In the Duntroon Basin, the year 1 work program for EPP 41 has been suspended by 12 months from 07/07/2015 to 06/07/2016.  The licence has had its expiry date extended to 06/07/2021.

 

Also in the Duntroon Basin, the year 1 work program for EPP 42 has been suspended by 12 months from 07/07/2015 to 06/07/2016.  The licence has had its expiry date extended to 06/07/2020.

 

In the Cooper Basin, Orca Energy has completed the sale of its Cooper Basin assets PPL 251, PRL 117 and PEL 110 to Senex Energy. Orca received the remaining $1.4 million payment on 15/05/2015.

 

In the Eromanga Basin, Terra Nova has terminated its farm-in agreement for petroleum exploration licenses PEL 112 and PEL 444. As a result of the farm-in termination, Holloman Energy will no longer be obligated to transfer any additional working interest in PEL 112 or PEL 444 to Terra Nova. Terra Nova remains operator of the blocks and the permits will now sit at their current equity.

 

In the Adelaide Fold Belt, PEL 145 has been relinquished.

 

In the Otway Basin, PEL 82 has suspended by 6 months from 04/09/2015 to 03/03/2016. The licence has had its expiry date extended to 03/03/2016.

 

In the Cooper Basin, PRL 175 to PRL 179 were granted to Beach Energy Ltd 40% and operator, Great Artesian Oil & Gas P/L 40% and Drillsearch Gas P/L 20% on 16/04/2015. The licenses will expire 15/04/2020.

 

Geothermal

 

In the Cooper Basin, GEL 267, GEL 269, GEL 273, GEL 316, GEL 317 and GEL 320 were relinquished 11/05/2015.

 

In the Eromanga Basin, the designations of GELA 393 to GELA 406 were earmarked for applications that were never formalised.  The application areas have been removed.

 

In the Cooper Basin, Clean Energy Australasia P/L 100% has applied for GELA 655 to GELA 658.

 

Sequestration

 

In the Cooper Basin, GSEL 652 was granted to Acer Energy P/L 80% and operator and Mid-Continent Equipment (Australia) 20% on 27/04/2015. The licence will expire 26/04/2020. Work program is as follows –

 

Year 1-5: G&G studies

 

Also in the Cooper Basin, GSEL 653 was granted to Beach Energy Ltd 40% and operator, Great Artesian Oil & Gas P/L 40% and Drillsearch Gas P/L 20% on 17/04/2015. The licence will expire 16/04/2020. Work program is as follows –

 

Year 1-5: G&G studies.

 


 

Victoria

 

Offshore in the Gippsland Basin, Cooper Energy has finalised the acquisition of a 50% interest in VIC/RL 3 pro-rata from the Santos group of companies.  Interests are Cooper Energy 50%, Basin Oil 20%, Santos Ltd 17.5%, Santos Offshore 7.5% and Santos (TGR) 5%.

 

In the Otway Basin, the Year 1 and Year 2 work program for VIC/P 69 has been varied  –

 

Year 1: G&G studies, 419 km 2D seismic reprocessing $0.57
Year 2: G&G studies, 650 sq km 3D seismic $16.65m

 

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

 

Sequestration

 

In the Gippsland Basin, sequestration licences V14-GHG-1, V14-GHG-2 and V14-GHG-3 were granted as VIC/GIP002, VIC/GIP003 and VIC/GIP004 respectively on 15/5/2015.   The licences were granted to The Crown in Right of Victoria and will expire on 14/05/2021.  Work programs are as follows –

 

VIC/GIP002

Year 1: reservoir analysis, geoscience work, appraisal plan $0.63m
Year 2: geoscience work, Declaration of Identified GHG Storage Formation $0.118m
Year 3: business case $0.1m
Year 4: business case $0.25m
Year 5: seismic feasibility $0.05m
Year 6: well feasibility $0.088m

 

VIC/GIP003

Year 1: work to support a Declaration of Identified GHG Storage Formation $0.052m
Year 2: geomechanical studies $0.017m
Year 3: review readiness $0.035m,
Year 4: modelling, seismic reproc $0.4m
Year 5: modelling $0.122m
Year 6: well feasibility, commerciality $0.262m

 

VIC/GIP004

Year 1: work to support a Declaration of Identified GHG Storage Formation $0.052m
Year 2: geomechanical studies $0.017m
Year 3: review readiness $0.035m,
Year 4: modelling & studies $0.227m
Year 5: modelling $0.122m
Year 6: well feasibility, commerciality $0.262m

 

Also in the Gippsland Basin, sequestration licence VIC/GIP001 has been amended and is now held by The Crown in Right of Victoria.  Work program is as follows –

 

Year 1: geotechnical studies $0.15m
Year 2: geotechnical studies $0.1m
Year 3: geotechnical studies $0.25m
Year 4: undetermined
Year 5: undetermined
Year 6: undetermined

 


 

Western Australia

 

In the Carnarvon Basin, the year 3 and 4 work program conditions for WA-191-P have been suspended by 18 months to 11/11/2016 and the year 5 work program conditions have been suspended by 6 months to 11/11/2016. The licence has had its expiry date extended to 11/11/2016.

 

In the Carnarvon Basin, the year 5 work program conditions for WA-271-P have been suspended by 6 months to 16/01/2016. The licence has had its expiry date extended to 16/01/2016.

 

In the Browse Basin, the year 3 work program for WA-281-P has been extended by 12 months from 01/06/2015 to 31/05/2016.  The licence has had its expiry date extended to 31/05/2018.

 

In the Petrel Sub Basin, the year 5 work program for WA-313-P has been extended by 6 months from 16/06/2015 to 15/12/2015.  The licence has had its expiry date extended to 15/12/2015.

 

In the Carnarvon Basin, retention lease applications over the Brederode WA-364-P L and Eendracht WA-364-P LE locations were lodged with NOPTA on 03/06/2015. A decision is pending.

 

In the Carnarvon Basin, retention lease applications over the Kentish Knock WA-365-P LK, Scarborough WA-365-P LS and Thebe WA-365-P LT locations were lodged with NOPTA on 03/06/2015. A decision is pending.

 

In the Browse Basin, WA-410-P now covers a reduced area over 292 sq km due to the grant of retention lease WA-57-R.

 

In the Carnarvon Basin, WA-433-P expired on 27/05/2015. The area reverts to vacant acreage.

 

In the Carnarvon Basin, WA-434-P is being relinquished.                             

 

In the Canning Basin, the year 6 work program for WA-435-P has been extended by 21 months from 04/11/2015 to 03/08/2017.  The licence has had its expiry date extended to 03/08/2017. A change to the year 6 work program has been approved –

 

Year 6: 3043 sq km 3D seismic, 1234 sq km MC3D seismic, 510 sq km 3D PSDM reprocessing, studies $20.3m

 

In the Canning Basin, the year 6 work program for WA-436-P has been extended by 24 months from 04/08/2015 to 03/08/2017.  The licence has had its expiry date extended to 03/08/2017. A change to year 6 work program has been approved –

 

Year 6: 2170 km 2D seismic, 2,255 sq km 3D seismic, 3 well fluid inclusion stratigraphy analysis, G&G $13.7m

 

In the Canning Basin, the year 6 work program for WA-437-P has been extended by 18 months from 04/02/2015 to 03/08/2017.  The licence has had its expiry date extended to 03/08/2017.  A change to year 6 work program has been approved –

 

Year 6: 1 well, 590 sq km PSDM 3D seismic reprocessing, 2065 sq km 3D seismic, 1460 km 2D seismic, studies $61.5m

 

In the Canning Basin, the year 6 work program for WA-438-P has been extended by 24 months from 04/08/2015 to 03/08/2017.  The licence has had its expiry date extended to 03/08/2017. A change to year 6 work program has been approved –

 

Year 6: 4875 km 2D seismic, 4 well fluid inclusion stratigraphy analysis, G&G $4.2m

 

In the Dampier Basin, the year 5 work program for WA-448-P has been extended by 18 months from 10/05/2014 to 09/11/2016.  The licence has had its expiry date extended to 09/11/2017. A change to year 5 work program has been approved –

 

Year 5: 243 sq km 3D PSDM seismic processing, 200 sq km multi-azimuth 3D seismic processing, geotechnical studies $0.7m

 

In the Carnarvon Basin, the year 5 work program for WA-450-P has been extended by 6 months from 17/06/2015 to 17/12/2015.  The licence has had its expiry date extended to 17/12/2016.

 

In the Carnarvon Basin, WA-460-P was cancelled on 21/05/2015. The area reverts to vacant acreage.

 

In the Browse Basin, the year 2 work program for WA-471-P has been extended by 12 months from 04/05/2015 to 03/05/2016.  The licence has had its expiry date extended to 03/05/2020.

 

In the Carnarvon Basin, Woodside has farmed out a 40% interest in WA-483-P to KUFPEC (Perth) P/L.

 

In the Petrel Sub Basin, MEO Australia has executed final documentation with Rex Bonaparte Gulf P/L, a wholly owned subsidiary of Rex International Holding, to acquire 30% in WA-488-P. The farmin agreement also gives Rex an option of either acquiring an additional 20% in WA-488-P in return for procuring full funding of a 3D seismic survey over the Beehive prospect and a payment of US$500,000 in cash to MEO before 30/06/2015, or acquiring an additional 10% participating interest by fully funding a 3D seismic survey after 30/06/2015 (the "Seismic Option"). Rex has a further option to acquire an additional participating interest after exercising the Seismic Option such that Rex may then have an aggregate participating interest of 80%, in return for procuring full funding of the proposed Beehive 1 well.

 

In the Browse Basin, WA-57-R was granted to Santos Offshore P/L 30% and operator, Chevron Australia (WA-410-P) P/L 50% and INPEX Browse E&P P/L 20% on 28/05/2015. The licence will expire on 27/05/2020.

 

In the Carnarvon Basin, EP 110 and EP 424 were relinquished on 29/05/2015.

 

In the Carnarvon Basin, EP 325 was relinquished on 22/05/2015.

 

In the Perth Basin, the year 6 work program for EP 455 has been extended by 3 months from 22/06/2015 to 21/09/2015. The licence has had its expiry date extended to 21/09/2015.

 

In the Canning Basin, all legal issues between Oil Basins and Backreef Oil have been resolved over the Derby Block. Oil Basins and Rey Resources have reached formal agreement whereby Rey’s wholly owned subsidiary Rey Lennard Shelf P/L will, subject to regulatory approval, attain a 50% interest in EP 487. Rey has granted Oil Basins a 1% overriding net royalty interest on its 50% interest in EP 487.

 

In the Perth Basin, EP 494 was granted to Southern Sky Energy P/L 100% on 8/05/2015. The licence will expire on 7/05/2021. Work program is as follows –

 

Year 1: G&G studies $0.425m
Year 2: 80 km 2D seismic $0.96m
Year 3: 2 wells, geological studies $1.62m
Year 4: 1 well $2m
Year 5: G&G studies $0.25m
Year 6: 1 well $2m

 

In the Perth Basin, Norwest is undertaking discussions with a third party to agree on the terms and conditions under which the party may earn an interest in TP/15. To date, the party has conducted preliminary due diligence on the permit, with negotiations and further due diligence continuing subsequent to quarter end.

 


 

New Zealand

 

In the Taranaki Basin, PEP 38451 has been relinquished.

 

In the Great South Basin, PEP 50122 is being relinquished.

 

In the East Coast Basin, PEP 52976 has been relinquished.

 

In the East Coast Basin, the work program for PEP 54858 is now –

 

12 months: 7000 km 2D seismic, G&G studies
24 months: 2600 km 2D seismic, 1380 km 2D seismic reprocessing
30 months: G&G studies
46 months: 750 sq km 3D seismic, G&G studies
54 months: G&G studies
60 months: 1 well

 

In the East Coast Basin, the work program for PEP 54861 is now –

 

12 months: 7000 km 2D seismic, G&G studies
24 months: 1700 km 2D seismic, 1380 km 2D seismic reprocessing
30 months: G&G studies
46 months: 1250 sq km 3D seismic, G&G studies
54 months: G&G studies
60 months: 1 well

 

In the East Coast Basin, PEP 55770 has been relinquished.

 

In the Taranaki Basin, PML 381012 has been renewed to 28/06/2036.

 

In the Taranaki Basin, PMP 38157 is being renewed.

 

In the Taranaki Basin, Pan Pacific Petroleum is putting its 15% holding in the producing Tui Area oil fields PMP 38158 up for sale. It aims to complete the process within six months, with a capital return to shareholders at the completion. The asset sales would require support of more than 50% of shareholders.

 

In the Taranaki Basin, Greymouth Petroleum Turangi Ltd 19.9%, Greymouth Gas Turangi Ltd 25%, Greymouth Gas Parahaki Ltd 25% and Greymouth Gas Kaimiro Ltd 30.1% have applied for an extension of land PMP 38161 EX.

 


 

Papua New Guinea

 

In the Papuan Basin, PPL 326 is being renewed with a 50% partial relinquishment.

 

In the Papuan Basin, Oil Search has elected to commit to the drilling phase in PPL 339.  As a result, Oil Search will acquire 70% and will assume operatorship.

 


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