Monthly Update
The March 2012 data update is now available ...

New Seismic Data Layer
The March update includes a new seismic data layer supplied to us by TGS-NOPEC Geophysical ...

Industry Summary
New Standard Energy will acquire up to 15% of Elixir Petroleum through a combination of a share placement, entitlement underwriting and top up placement facility for an investment of up to $2.25 million ...

Permit Updates and Changes
In the Sydney Basin, PEL 442 expired on 26/02/2012.  A new application, PELA 136, has been made over the same area by Apex Energy 80% and Sydney Basin CBM 20% ...
 


Monthly Update

The March 2012 data update is now available.

Data Permissions

This data release includes a new file of seismic data.  If an error message referring to this data is displayed on start-up of your GPinfo session immediately following installation of the March data you will need to re-set your permissions for the GPinfo data.  Click here for more information.

 


New Seismic Data Layer

The March update includes a new seismic data layer supplied to us by TGS-NOPEC Geophysical Company.

The new layer
TGS-NOPEC 3D is in the Map Manager group called OVERLAYS. The layer contains
polygons outlining over 14,000 sq km of newly acquired 2011/2012 multi-client seismic data covering the Exmouth Plateau in the Carnarvon Basin. This includes over 12,000 sq km of seismic data for the Mary Rose MC3D and over 2,000 sq km for TGS’ most recent Gnaraloo MC3D.



The layer should display in orange with transparency set at 50% for the 3D polygons.

The layer will behave in the same way as other data layers in GPinfo -

  -  Display attribute information in the Details Window or Browser.
  -  Create subsets of the data using the Querying sub-system.
  -  Export a subset or the entire layer using File > Export.
  -  Change the standard colour of the layers using the
colour box next to the layer name in the Map Manager.
  -  Change labels by right clicking on the layer name in the Map Manager and selecting Properties > Labels.

Can't see the new data?

Correct display of the new data layer requires a modification to the structure of your GPinfo configuration file.  This should happen automatically the first time you start a GPinfo session after the March data update has been installed.

If the March update has been installed but you still can't see the new layers or they are not displaying with the correct characteristics, you can force GPinfo to apply the required structural changes by selecting View > Options > Updates and clicking on the Update GPinfo system layers now button.

If you still can't see the data, please re-set your permissions to the GPinfo data as described above under Data Permissions
.


Industry Summary

Company News

New Standard Energy will acquire up to 15% of Elixir Petroleum through a combination of a share placement, entitlement underwriting and top up placement facility, if required, for an investment of up to $2.25 million. (Source: New Standard Energy announcement, 02/03/2012).

WestSide Corporation has now advised that the indicative, conditional, non-binding and confidential proposal to acquire all of the shares in WestSide for
cash consideration of $0.65 per Westside share was received from LNG Limited. LNG has recently begun its due diligence, there can be no certainty that a binding offer will be made once LNG Ltd has completed its due diligence. (Source: WestSide announcement, 02/03/2012).

Solid Energy and the Receivers of Pike River Coal Ltd have today reached a binding agreement for Solid Energy to purchase the business and assets of Pike River Coal Limited (In Receivership). The agreement is conditional upon Solid Energy satisfactorily completing due diligence by 30 March 2012. (Source: Solid Energy announcement, 09/03/2012).

Talisman Energy Inc and Mitsubishi Corporation have reached agreement on Mitsubishi’s entry into nine of Talisman’s licences in PNG’s onshore Western Province, via a farmout from Talisman effective 01/01/2012, subject to approvals by government and joint venture partners.  The deal is valued at approximately US$280 million and will be paid in the form of a capital carry.  Following the farmout, Talisman and MC licensed equity positions will average 40% and 20% respectively in these nine licences.  (Source: Talisman Energy and Mitsubishi Corporation announcement, 22/02/2012).

Development News

Apache Energy has officially opened its $1 billion Devil Creek domestic gas plant in Western Australia. Gas will be piped from the offshore Reindeer field in the Carnarvon Basin to the Devil Creek plant. The gas is then fed into the Dampier to Bunbury pipeline and supplied to WA’s major gas users. The two train plant has a gross production capacity of 220 terajoules per day and is also capable of processing up to 1,000 barrels of condensate per day. (Source: Santos announcement, 25/02/2012, Energy News Premium, 27/02/2012).

Senex Energy Ltd is selling the Port Bonython Fuels Project in South Australia to Mitsubishi Corporation for an undisclosed sum. Senex will initially sell 90% of the project with the remaining 10% subject to a put and call option arrangement, allowing the transfer of the remaining interest to Mitsubishi for an additional payment within 13 months of the date of the agreement. The Port Bonython fuels project involves the construction of liquid hydrocarbons including refined petroleum handling, storage and distribution facilities at Port Bonython. The sale is subject to several conditions which are expected to be completed in the coming months. (Source: Energy News Premium, 09/03/2012).

Empire Oil & Gas has secured an agreement with BP Singapore to take 1,000 barrels of condensate from its Red Gully project in Western Australia for testing. BP Singapore will take the barrels, which are currently stored onsite in EP 389, to process at BP’s Kwinana Refinery to determine quality of the condensate. The EP 389 Joint Venture is still in the process of settling a long term crude oil contract with BP for condensate from the Red Gully gas and condensate plant, which is yet to be built. (Source: Empire Oil & Gas announcement, 02/03/2012).

INPEX Ichthys P/L and other project group companies have been granted production licenses for the Ichthys LNG Project. Upon the grants, WA-37-R and the Location Block area in WA-285-P, where the Ichthys gas condensate field is located, will be registered as WA-50-L and WA-51-L respectively. (Source: INPEX Corporation announcement, 14/03/2012).

INPEX Corporation is pleased to announce that through its subsidiary, INPEX Oil & Gas Australia P/L, has agreed to acquire a 17.5% interest in the Prelude FLNG Project from Shell Development (Australia) P/L. The transaction is conditional upon government approval.  Once approved interests in WA-44-L will be Shell 82.5% and INPEX 17.5%. (Source: INPEX Corporation announcement, 16/03/2012)
.

Discoveries

Successful appraisal drilling at Growler 8 in PRL 15 has again extended the limits of the Growler oil field in the western flank of the Cooper Basin, South Australia. Wire line logs confirmed the presence of a 20.5 metres gross reservoir in the Birkhead Formation over the interval 1,732.5 to 1,753.0 metres with interpreted net reservoir of at least 18.5 metres. Growler 8 is to be cased and suspended as a future production well. (Source: Senex Energy Ltd announcement, 22/02/2012).

Beach Energy has successfully discovered gas and gas liquids in its Coolawang 1 exploration well in PEL 106B, Cooper Basin. Wireline logging highlighted three hydrocarbon-bearing zones in sands below 2,566 metres in the Lower Patchawarra, the well also hit conventional sands. A drill seam test flowed gas at a stabilised rate of 4.5 million cubic feet of gas per day with subsequent pressure data indicating no evidence of depletion. Operations are currently underway to case and suspend the well for cased-hole extended production testing. (Source: Beach Energy announcement, 29/02/2012).

Tag Oil’s onshore Taranaki Cheal B7 well has exceeded expectations flowing at more than 1,100 barrels per day of light oil plus associated gas. The well was drilled to a total depth of approximately 2,100 meters and encountered a total of 18 meters of high quality oil and gas bearing sands within the targeted Urenui and Mt. Messenger Formations. (Source: Tag Oil announcement, 05/03/2012).

 


Permit Updates and Changes

New South Wales

In the Sydney Basin, PEL 442 expired on 26/02/2012.  New application PELA 136 has been made over the same area by Apex Energy 80% and Sydney Basin CBM 20%.

The NSW Aboriginal Land Council has applied for the following Special Prospecting Authorities:  PSPAPP 55 over 1,299 sq km,  PSPAPP 56 over 48,727 sq km and  PSPAPP 57 over 404,504 sq km
.


Northern Territory

In the Beetaloo Basin, Falcon Oil & Gas plans to farm out a further 10% of EP 76, EP 98 and EP 117.

In the Amadeus Basin, a 12 month suspension period has been granted to the Year 5 work program for EP 125. Year 5 has been extended from 06/12/2011 to 06/12/2012. The licence will expire 06/12/2012.

In the Money Shoal Basin, the area of permit application EP(A) 216 has been extended and now covers 8,679 sq km.

In the Pine Creek Basin, EP(A) 255 has undergone a partial relinquishment and now covers 13,984 sq km.

In the Daly Basin, EP(A) 288 is a new application by Vamgas P/L.

In the Money Shoal Basin, EP(A) 294, EP(A) 295 and NTC/P 14 are new applications by NT Gas Aust P/L
.


Queensland

In the Clarence/Moreton Basin, the ATP 683P farmout blocks no longer apply.  Interests in ATP 683P are Arrow Energy P/L 70% and Arrow CSG (Australia) P/L 30%.

In the Drummond Basin, ATP 793P has undergone a partial relinquishment and now covers a reduced area of 239 sq km.

In the Galilee Basin, the KOGAS farmin option for ATP 813P and ATP 814P has been extended to 30/06/2012.

Also in the Galilee Basin, ATP 866P has been relinquished and now reverts to vacant acreage.

In the Surat Bowen Basin, Clark Oil & Gas and Red Sky Energy (through its subsidiary Cydonia Resources P/L) have unitised their interests across conventional and non-conventional resources in ATP 840P, with Cydonia now holding 18.75% in both conventional and non-conventional resources.

In the Galilee Basin, if successful in its applications for ATP 1127P, ATP 1130P, ATP 1137P and ATP 1150P, Exoma will have a 50% beneficial interest in joint venture with CNOOC Galilee Gas.

In the Surat Basin, PL 257 and PL 277 were granted on 17/02/2012.  The licences will expire on 16/02/2042.

Potential Commercial Area applications have been received for PCA 114 (137 sq km), PCA 115 (201 sq km), PCA 116 (213 sq km), PCA 117 (229 sq km), PCA 118 (216 sq km) and PCA 119 (177 sq km).  All applications are by Arrow Energy 80% and Arrow CSG (Australia) 30%.

Potential Commercial Area applications PCA 120 (228 sq km) and PCA 121 (228 sq km) have been received from Clark Oil & Gas 81.25% and Cydonia Resources P/L 18.75%.

Geothermal

Geothermal applications EPG 53, EPG 54 and EPG 55 have been refused
.


South Australia

In the Murray Basin, PEL 127 has undergone a partial relinquishment and now covers 1,216 sq km.

In the Pirie-Torrens Basin, the areas for PELA 528 and PELA 567 have been extended and now cover 1,132 and 1,632 sq km respectively.

In the Arrowie Basin, PELA 577 has undergone a partial relinquishment and now covers 9,646 sq km.

Geothermal

In the Cooper Basin, GEL 220 and GEL 221 are in the process of being renewed.

In the St Vincent Basin, GEL 226 is in the process of being renewed.

In the Pirie-Torrens Basin, GEL 230 is in the process of being renewed.


Tasmania

In the Bass Basin, T/42P and T/43P were not renewed and expired on 06/03/2012.

Also in the Bass Basin, a surrender was lodged for T/44P on 08/02/2012
.



Victoria


Offshore in the Gippsland Basin, Oracle Energy Corp has notified 3D Oil that it will be unable to finalise definitive documentation and commercial terms in accordance with the original timetable and terms in relation to VIC/P 57P. 3D Oil and OEC will continue discussions on a revised, non-exclusive basis.  In parallel, 3D Oil will recommence discussions with other parties, including those that previously expressed an interest in VIC/P 57.

In the Otway Basin, VIC/P 62 has had a 12 month suspension and extension.  The licence will expire on 12/13/2013.

In the Gippsland Basin, VIC/RL 4 was renewed to 09/02/2017.

Onshore in the Otway Basin, native title negotiations were completed in relation to PEP 150 during the second half of 2011.  Finalisation of the agreement and grant of the permit is expected during the first half of 2012.

Also in the Otway Basin, the PEP 151 JV has requested that the licence be cancelled as the DSE has advised it will not support seismic acquisition over the Arakua prospect (located in a very high conservation area).



Western Australia


The following 7 areas are available in the 2012 Onshore Release (closing 01/11/2012) –

Licence           Basin                  Area km2

L 12-1              Carnarvon                  882
L 12-2              Amadeus                6,592
L 12-3              Officer                   18,345
L 12-4              Officer                   22,527
L 12-5              Officer                   22,748
L 12-6              Perth                         560
L 12-7              Perth                         298

In the Perth Basin, a 6 month suspension period has been granted to the Year 5 work program for EP 413. Year 5 has been extended from 01/02/2012 to 01/08/2012. The licence will expire 01/08/2012.

In the Carnarvon Basin, EP 444 is pending suspension.

In the Perth Basin, a 12 month suspension period has been granted to the Year 6 work program for EP 447. Year 6 has been extended from 11/04/2012 to 11/04/2013. The licence will expire 11/04/2013. The year 6 work program now covers 240k 3D seismic $1.5m.

In the Canning Basin, a 12 month suspension period has been granted to the Year 4 work program for EP 448. Year 4 has been extended from 16/06/2011 to 15/06/2012. The licence will expire 15/06/2014. The year 3 and 4 work programs now cover geotechnical studies.

In the Canning Basin, Buru Energy Ltd has been announced as the preferred applicant for L 11-1 and L 11-2.
L 11-1 has undergone a partial relinquishment and now covers 7,576 sq km.

In the Canning Basin, STP-SPA-0026 is a new Special Prospecting Authority Application.

In the Barrow Basin, a 12 month suspension period has been granted to the Year 5 work program for TP/7. Year 5 has been extended from 07/04/2011 to 07/04/2012. The licence will expire 07/04/2012.

In the Carnarvon Basin, TR/3 has been renewed to 12/02/2017. Work program is as follows –

Year 1: 3D seismic reprocessing $0.15m
Year 2: geotechnical studies $0.05m
Year 3: geotechnical studies $0.05m
Year 4: geotechnical studies $0.05m
Year 5: geotechnical studies $0.05m

In the Petrel Sub Basin, WA-18-P has been renewed to 13/02/2017. Work program is as follows –

Year 1: technical and commercial studies $0.35m
Year 2: technical and commercial studies $0.35m
Year 3: technical and commercial studies $0.35m
Year 4: 1 well $20m
Year 5: technical and commercial studies $0.35m

In the Carnarvon Basin, WA-356-P has been renewed to 01/03/2017 over a reduced area and now
covers 323 sq km. Work program is as follows –

Year 1: 300k 3D seismic reprocessing $0.48m
Year 2: geotechnical studies $0.25m
Year 3: geotechnical studies $0.25m
Year 4: 1 well $15m
Year 5: geotechnical studies $0.25m

In the Carnarvon Basin, WA-360-P has been renewed to 05/03/2017 over a reduced area and now covers 648 sq km. Interests in the permit are now MEO Australia Ltd 62.5% and Cue Energy Resources Ltd 37.5%. Work program is as follows –

Year 1: license 363k existing 3D seismic $3m
Year 2: 648k 3D seismic reprocessing $0.4m
Year 3: geotechnical studies $0.25m
Year 4: geotechnical studies $0.25m
Year 5: 1 well $30m

In the Browse Basin, INPEX Oil & Gas Australia P/L will acquire a 17.5% interest in WA-44-L from Shell Development (Australia) P/L.

In the Petrel Sub Basin, the work program for WA-454-P has been varied and is now as follows –

Year 1: 583k 3D seismic $6m
Year 2: geological studies $0.2m
Year 3: geological studies $0.2m
Year 4: geotechnical studies $0.25m
Year 5: 1 well $20m
Year 6: geotechnical studies $0.25m

In the Carnarvon Basin, WA-7-R has been renewed to 07/02/2017. Work program is as follows –

Year 1: technical studies $0.1m
Year 2: geoscientific studies $0.1m
Year 3: reservoir studies $0.15m
Year 4: field development studies $0.2m
Year 5: field development studies $0.25m


New Zealand

In the East Coast Basin, PEP 38348 and PEP 38349 both have extension of duration applications currently under consideration.

In the Taranaki Basin, the area of PEP 38748 has been reduced due to the grant of PMP 53803. PEP 38748 now covers 29 sq km.

In the Taranaki Basin, New Zealand Energy Corp has entered into a farm in agreement with L&M Energy Ltd to earn an additional 15% in PEP 51151 by funding the collection and processing of 3D seismic data over approximately 50 sq km of the permit. NZEC’s interest will increase to 65%.

In the Taranaki Basin, New Zealand Oil & Gas Ltd has signed a conditional agreement with AGL Upstream Gas (MOS) P/L to purchase a 15% interest in PEP 52181. NZOG will pay US$3m for AGL’s stake, conditional on the joint venture making a commitment to drill a well, along with other approvals. The permit currently has a drilling commitment deadline of 18/05/2012, with a well to be drilled by 18/05/2013. Furthermore, ROC has initiated a farm-down process to reduce its 50% interest in the block.

In the East Coast Basin, PEP 52676 has been granted to Rawson Taranaki Ltd 50% (operator) and Zeanco (NZ) Ltd 50% on 07/03/2012. The licence will expire 06/03/2017. Work program is as follows –

15 months: geochemical sampling, 21k 2D seismic reprocessing, studies
24 months: geochemical sampling, 40k 2D seismic
48 months: 1 well
60 months: studies

In the West Southland Basin, PEP 52819 has been granted to L&M Coal Seam Gas Ltd on 12/03/2012. The licence will expire on 11/03/2017. Work program is as follows –

6 months: studies, 50k 2D seismic reprocessing
12 months: studies, 1 well
24 months: studies, 20k 2D seismic, 1 well, well testing
36 months: studies, 1 well
60 months: develop 3 to 5 well pilot production site

In the Taranaki Basin, PEP 53374 has been granted to Todd Exploration Ltd on 09/03/2012. The licence will expire on 08/03/2017. Work program is as follows –

12 months: studies, 200k 3D seismic reprocessing
24 months: 500k 2D seismic reprocessing, studies
36 months: 1 well
48 months: studies, 200k 3D seismic
60 months: studies

In the Sidewinder Basin, PMP 53803 has been granted to TAG Oil (NZ) Ltd on 22/02/2012. The licence will expire 21/02/2022. Work program is as follows –

6 months: tie Sidewinder 4/ST1 into the Sidewinder production station
18 months: studies


Papua New Guinea

In the Papuan Basin, Esso PNG Exploration Ltd and Oil Search (PNG) Ltd will each acquire 50% of PPL 277 from NGE subsidiary Kingsbury Ltd for $US7.5 million each, contingent on the next extension of the licence. New Guinea Energy may become entitled to an additional US$20 million if a Petroleum Development occurs and, if commercial production occurs, a royalty over all revenue received from all petroleum produced and sold.

In the Papuan Basin, correct interests in APPL 386 are: Oil Search (PNG) 37.5%, Oil Search Ltd 33.75%, Nippon Oil Exploration (Niugini) 20% and Merlin Petroleum Co 8.75%.

In the Papuan Basin, Diamond Gas Niugini, a subsidiary of Mitsubishi will acquire 10% of PRL 4 from Talisman.  The deal is subject to approval by JV participants and the relevant authorities.

In the Papuan Basin, the correct expiry date for PRL 13 is 26/01/2015.

In the Papuan Basin, Diamond Gas Niugini will acquire 7.5% of PRL 21 from Talisman Niugini subject to Government approvals
.


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