APPEA Conference 2014
The 2014 APPEA Conference will be held
in Perth from 6 to 9 April. As usual we will be in attendance. Please
drop by our booth which this year will be in the main foyer near the
registration desk ...
Magellan Petroleum Corporation has entered into a
definitive agreement to sell the Palm Valley and Dingo gas fields to Central
Petroleum Ltd through the sale of its wholly owned subsidiary ...
Permit Updates and
In the Surat Basin, application PELA 149 was nullified
as it did not meet Section 10 of Petroleum (Onshore) Act 1991 which says an
application for a petroleum title must relate to one area only ...
APPEA Conference 2014
The 2014 APPEA Conference will be held in Perth from 6 to 9 April. As usual we will
be in attendance. Please drop by our booth which this year will be in
the main foyer near the registration desk. You don't need to be a
conference delegate to be able to access this part of the convention centre
so we hope to see you there. In attendance will be Dan Haigh, Angela
Willett, Catherine Speed and Cynthia Thomas.
The 2014 editions of the Petroleum Permits of Australasia Map and Book will
be released on Sunday 6 April and will be available for purchase at the conference
and by mail order from our Sydney office once the conference is over. A
copy of the order form will be included with next month's edition of the
The April update of GPinfo will be released on Tuesday 8 April to coincide
with the official announcement of the 2014 Federal Offshore Acreage Release
by The Hon. Ian Macfarlane, Federal Minister for Industry. The update will
also include details of various state onshore gazettals which are
confidential until their announcement at the conference.
Petroleum Corporation has
entered into a definitive agreement to sell the Palm Valley and Dingo gas
fields to Central Petroleum Ltd through the sale of its wholly owned
subsidiary Magellan Petroleum (NT) P/L in exchange for $35 million in
cash and Central stock. Of this consideration, $20 million is payable in cash
and approximately 39.5 million shares in Central upon transaction completion.
Jarl P/L will also become a Central Petroleum subsidiary. Jarl
distributes the royalties to third parties. Completion is expected to occur
by 31/03/2014 and is subject to certain customary conditions. (Source:
Magellan Petroleum announcement, 18/02/2014).
merger between Torrens Energy and Phoenix Oil and Gas,
announced in December 2013, will result in the new entity changing its name
to High Peak Royalties Ltd to better suit the new direction of the
merged entity. The merged entity will continue to focus on oil and gas royalty
opportunities, both in Australia and other favourable investment
jurisdictions, but will also actively seek other royalty opportunities. The
merger is expected to be completed in April 2014. (Source: Torrens Energy
signed a gas sales agreement with the Santos-operated South
Australian Cooper Basin Joint Venture for the supply of raw gas over two
years from its Hornet gas field in the Cooper-Eromanga Basin. Raw gas will be
supplied from the Hornet gas field in PEL 115 at up to 10 mmcfd beginning in
September this year. The deal will allow Senex to monetise the gas during the
appraisal stage without the risk of penalties for non-delivery. The raw gas
comprises natural gas condensate and LPG, and Senex will be paid for each component. (Source:
Senex Energy announcement, 03/03/2014).
entered into a gas supply option agreement with Austral Bricks for
12.5 PJ of gas from its gas reserves in the Southern Cooper Basin gas project
over 10 years. The agreement complements a deal reached with Orora for
the supply of 30 PJ of gas, announced last month, and will deliver 1.25 PJ to
Austral each year for the 10-year period under the same key terms. The gas
will be delivered at a fixed price over the period, beginning in 2017, the
scheduled start of production at the project. (Source: Strike Energy
Woodside has signed a sales and purchase
agreement with Korea Gas Corporation for a maximum supply of 2.2
million tonnes of LNG over a three-year period from its 4.3 million tonne per
annum Pluto LNG plant. The agreement is subject to a number of
conditions and the gas will be sourced from previously uncommitted volumes.
Existing sales deals struck with foundational buyers Kansai Electric
and Tokyo Gas in 2007 have been reduced from 3.75 mtpa to 3.25 mtpa. (Source:
Woodside announcement, 28/02/2014).
the successful completion of the recent PEL 96 appraisal program, Strike
Energy has announced an increase in its best estimate of prospective
resources in the Cooper Basin’s PEL 96 permit to 6.8 tcf of recoverable gas,
with 4.5 tcf net to Strike. Strike’s focus is on bringing about rapid
commercialisation of the gas reserves lying within its phase 1 area of the
permit. The estimated prospective resource in the phase 1 area has been
increased to 1.2 tcf. Data from the Le Chiffre and Klebb wells is responsible
for the increase in estimated reserves. (Source: Strike Energy announcement,
Group Co Ltd has
made an off-market takeover bid for all of the shares in WestSide Corporation
at 36c per share. WestSide is reviewing the terms of the intended bid and has
advised its shareholders to take no action as there is no guarantee of a
formal offer eventuating. The bid is conditional on the approval of various
third parties, including Chinese and Australian government regulatory
approvals, and Landbridge undertaking due diligence. (Source: Westside
Corporation announcement, 10/03/2014).
geotechnical evaluation of FAR Ltd’s offshore Dampier Basin
exploration permits has identified multiple prospects with total prospective
resources estimated at 447 million barrels of oil equivalent net to the
company. The evaluation assessed extensive vintage 3D and 2D seismic data
covering the WA-457-P and WA-458-P permits as well as exiting well data to
produce resource estimates. Oil is expected to be the dominant hydrocarbon
phase in WA-458-P, with nearby discoveries proving prospective for the
liquid. The permit is expected to hold about 359 mmbbl of oil net to
FAR. WA-457-P permit is the site of the Dampier 1 well drilled in 1968 and
will be the focus of a work program designed to identify better quality sands
than the ones that failed the vintage well. The Dampier structure is
thought to potentially contain a total of 800 bcf of gas and 16 mmbbl of
associated condensate, with 459 bcf and 9.2 mmbbl net to FAR. (Source: FAR
Ltd announcement, 11/03/2014).
INPEX-operated Ichthys LNG Project has celebrated a key milestone with the
first block of the keel for the Floating Production, Storage and Offloading
(FPSO) vessel recently laid down at a ceremony in Daewoo’s South Korean
shipyard where the FPSO is being built. Speaking at the event, Ichthys
managing director Louis Bon said the keel laying was significant as it is the
structure around which the FPSO would take form. “The FPSO is the
facility that will be used for condensate dewatering, stabilisation, storage
and export – so its importance cannot be overstated.” Once complete the
facility will be towed 5,600 km to the Browse field in northern offshore
Western Australia, where it will be permanently moored to the seabed for the
life of the project. (Source: INPEX
Ltd and the Kentz engineering group has won a $US640 million contract for the
Ichthys LNG Project for structural, mechanical and piping
construction work. Awarded by engineering, procurement and construction
contractor JKC Australia, the UGL Kentz joint venture is expected to start
work in August and to end before the start-up of the Ichthys plant’s second
train. (Source: Energy News Bulletin, 27/02/2014).
group Monadelphous has landed a $680 million construction contract for
mechanical works at the Ichthys Project onshore LNG facilities in Darwin. The
agreement is with lead contractor JKC Australia, a joint venture between
Japan-based JGC Corporation and Chiyodoa Corporation along with Kellogg Brown
& Root. The scope of work comprises the construction of piping,
mechanical and structural steel for the utility and offsite area. Work will
start immediately and is due to be completed by mid-2016. (Source: Energy
News Premium, 24/02/2014).
Mobil’s $19 billion PNG LNG venture will export first gas four months
ahead of schedule. Exxon
CEO Rex Tillerson told analysts in the US the first LNG would come on stream
mid-year with first cargo scheduled for as early as 01/07/2014. The
two-train, 6.9 million tonnes per annum-capacity PNG LNG project is due to
start production in late 2014 and was also estimated to produce an average of
19,200 barrels per day of condensate back in 2009. Tillerson said a third
train was also being looked at and there was space at the Port Moresby site
for third and fourth trains. (Source: Energy News Premium, 11/03/2014).
its investor update in New York this week Chevron revealed the Gorgon LNG Project in Western Australia, which is targeting
15 million tonnes per annum, was 78% complete while first gas was expected in
mid-2015 instead of the March quarter of that year. The Australian
Financial Review reported that Chevron was marketing LNG from a potential
fourth train at Gorgon while analysts were expecting Chevron to benefit from
high spot prices for the 35% of the gas under the foundation project which is
not under long term contracts. (Energy News Premium, 13/03/2014).
designed as a vertical development well, targeting the McKinlay/Namur
reservoirs on the south east end of the field. Bauer 13 intersected a 13
metre oil column, with 8 metres of net oil pay within the highly productive
Namur reservoir. The well has been cased and suspended as a future oil
producer. (Source: Beach Energy announcement, 05/03/2014).
Oil’s discovery of 112 metres of net gas pay at its Bianchi 1
discovery in the Carnarvon Basin has led to estimates of gross 2C contingent
resources of 638 PJ held within the WA-49-R retention lease and a net resource
to Tap of 64 PJ. Tap will book an additional 16 PJ of net 2C resources in the
WA-49-R retention lease for the Bianchi 1 discovery, while it has already
booked 48 PJ of net 2C contingent resources for the nearby Zola and Antelope
discoveries. The basis for moveable hydrocarbon confirmation at the Bianchi 1
well was wireline samples recovered from four gas-bearing reservoirs. (Source:
Tap Oil announcement, 26/02/2014).
Search is preparing to plug back and suspend the Mananda 7/ST4 well
located in exploration permit PPL 219 in the Papuan Basin, Papua New Guinea
as a potential future oil producer. The well reached a total depth of 2,540
metres, encountering hydrocarbons in the Toro and Digimu sands. (Source:
Oil Search announcement, 06/03/2014).
Petroleum’s Surprise West 1 well in the Northern Territory has commenced production, with initial
flow rates of 675 barrels of oil over a 24 hour period without the help of a
pump. The well has exceeded the company’s expectations, flowing at a rate of
around 70% higher than the maximum flow rate achieved during the extended
production test. (Central Petroleum announcement, 13/03/2014).
Energy has added to its impressive drilling track record in the Cooper Basin,
casing and suspending two wells for future production. The company’s Vintage
Crop 4 well intersected approximately 2.5 metres of net oil pay in the
McKinlay member and approximately 8 metres of net oil pay in the Murta
formation. Mirage 6 was also cased and suspended after it intersected
11.6 metres of net oil pay in the sandstones of the Murta formation. (Source:
Senex Energy announcement, 05/03/2014).
Permit Updates and
New South Wales
the Surat Basin, application PELA 149 was nullified as it did not meet
Section 10 of Petroleum (Onshore) Act 1991 which says an application for a
petroleum title must relate to one area only.
the Clarence/Moreton Basin, PEL 426 is in the process of being renewed.
the New England Fold Belt, Trough Exploration P/L 100% has applied for
special prospecting authority PSPAPP 63.
the Browse Basin, INPEX Browse Ltd has transferred its interest in AC/P 36
to INPEX Browse E&P P/L.
Browse Basin, AC/P 48 is being relinquished.
the Petrel Sub-basin, NT/P 81 was cancelled on
the Georgina Basin, EP 103 and EP 104 have had their expiry
dates extended to 20/05/2015.
the Amadeus Basin, EP 115 is being renewed.
the Georgina Basin, Statoil has served default notices for cash calls it
claims have not been paid by partner Baraka Energy & Resources, despite
the fact Baraka has disputed upcoming work programs. Baraka gave notice under
the joint operating agreement that it was electing not to contribute to the EP
127 and EP 128 work programs, stating they were 'invalid'. Statoil advised if the default notices
were found to be invalid it would lead to the forfeiture of Baraka's interest
in the permits. Baraka has hit back, stating its election not to participate
in the work programs was valid, deeming the default notices invalid. The
company also reiterated that the work programs were not in its view validly
adopted. Baraka will take legal action against the default notices and will
file for an injunction to stop the forfeiture of its interest. Also, EP 127
has had its expiry date extended to 13/12/2015.
Pedirka Basin, EP 134 is being renewed.
the Amadeus Basin, Magellan Petroleum Corporation has entered into a
definitive agreement to sell the Palm Valley OL 3 and Dingo gas fields
RL 2 to Central Petroleum Ltd through the sale of its wholly owned subsidiary
Magellan Petroleum (NT) P/L in exchange for $35 million in cash and Central
stock. Completion is expected to occur by 31/03/2014.
the Amadeus Basin, RL 2 has been renewed to 03/02/2019.
Joint Petroleum Development Area
undergone a partial relinquishment and now covers 1,068
been suspended until 15/4/2014 for ANP to complete assessment of the JV
application to terminate the PSC without penalty.
been renewed to 21/04/2035 over a reduced area of 83 sq km.
granted to Eni JPDA 11-106 BV 40.53%, INPEX Offshore Timor-Leste Ltd 35.47%
and Timor Gap PSC 11-106 Unipessoal Lda 24%. The PSC was signed on
11/04/2013 and became effective on 23/10/2013. The licence will expire
the Surat Basin, Fairview Pipeline P/L holds 4.38% and Tri-Star Petroleum Co
holds 0.302% of ATP 606, ATP 972 and associated PCAs and PLs.
the Eromanga Basin, ATP 633 has undergone a partial relinquishment and
now cover a reduced area of 585 sq km.
the Maryborough Basin, Blue Energy will acquire 100% of ATP 613, ATP 674 and ATP 733 for $2.5 million to be paid in three
payments over a 12 month period. The sale of ATP 613 is subject
to binding documentation which should be finalised shortly.
the Surat Basin, ATP 676 has undergone a partial relinquishment and
now covers a reduced area of 914 sq km.
the Galilee Basin, ATP 813 has undergone a partial relinquishment and
now covers a reduced area of 2,063
the Bowen Basin, ATP 817 has been relinquished and now reverts to
the Surat Bain, ATP 819 has been relinquished and now reverts to
the Surat/Bowen Basin, Foresight Australia P/L will acquire 30% of ATP 840
from Clark Oil & Gas P/L.
the Cooper Basin, the farm-in agreement for ATP 940 has been
amended: consolidation of the 3 stages to a single stage and removal
QGC’s withdrawal rights, bringing forward the remainder of QGC’s carry of the
initial $100 million expenditure; expansion of the agreed farm-in work
program from 6 to 10 wells; Drillsearch to remain as operator until end of
permit term in Nov 2015 with QGC then having an option to assume operatorship.
the Galilee Basin, Queensland Energy Resources’ interest in ATP 1015 is
held by QER CSG P/L.
the Adavale Basin, work program for ATP 1069 is as follows -
km seismic reprocessing, 350 sq km airborne geophysical reprocessing
Year 2: 100 km 2D seismic, 2 strat wells to 1800m, seismic
Year 3: 5 coreholes to 1800m
Year 4: 2 production wells to 1500m, 8 monitoring/development wells to
In the Eromanga Basin, work program for ATP 1072 is as follows -
G&G studies, 80 km seismic reprocessing, 4 wells to 700m
Year 2: G&G studies, 120 km seismic, 3 wells to 700m
Year 3: G&G studies, 5 wells to 700m
Year 4: G&G studies, 7 wells to 700m
In the Bowen Basin, work program for ATP 1079 is as follows -
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
In the Cooper Basin, PL 168 is being renewed as PL 502.
the Surat Basin, AGL’s interest in PL 213 is held by AGL Gas Storage
the Surat Basin, PL 472 was granted over the Avon Downs field on
10/02/2014. The licence will expire on 09/02/2044.
the Surat Basin, QGC have applied for production licence application PL
503 over the Michelle field.
In the Bowen Basin, Peabody (Bowen) P/L has
applied for production licence PL 504.
the Eromanga Basin, geothermal applications EPG 95, EPG 96 and EPG
99 are held by Clean Energy Australasia P/L 50% and Earth Solar Power 50%.
the Cooper Basin, Senex Energy has entered into two farm-out agreements with Origin
Energy to acquire interests in two gas blocks in the Cooper Basin. The
agreement will see the permits divided into two areas, with Area A
covering a portion of PEL
115 and PEL 516 and Area B (Deeps only) covering
a portion of PEL 514. Senex retains its interest in the oil prone
Shallows of Area B. Following completion, which is expected by 30/06/2014,
Origin will progressively invest $97 million to contribute to an exploration
program on each block. Upon completion Origin will hold 40% interest in Area
A and 30% in Area B. Origin will have the option to increase its working
interest in both blocks by 10% via an additional $72 million investment to
contribute to a pilot appraisal program in each area. After completion of the
pilot appraisal programs Origin has the option to become operator in each
the Eucla Basin, PEL 143 has been suspended from 16/02/2014 to
15/02/2015. The licence has had its expiry date extended to 15/05/2019.
the Otway Basin, Otway Energy has entered into a Royalty Deed with Hardie in
relation to PEL 154 and PEL 155 to provide a royalty of 5% on
net proceeds from production, less government royalties, capped at A$15
the Officer Basin, PEL 499 has been suspended from 15/02/2014 to
14/02/2015. The licence has had its expiry date extended to 12/01/2016.
the Arckaringa Basin, PEL 500 has been suspended from 01/04/2014 to
31/03/2015. The licence has had its expiry date extended to 11/04/2018.
the Eromanga Basin, Phoenix Oil & Gas Ltd acquired 1.3% of Liberty's 7%
ORR in PEL 512.
the Gawler Block, applications PELA 126 and PEL 153 have been
varied and now cover 8,624 sq km and
2,124 sq km
the Cooper Basin, PELA 516 is now under application as PELA 636.
the Otway Basin, Rawson Resources has signed a sales and purchase agreement
with Adelaide Energy P/L to purchase 100% of PRL 13 for a total
consideration of $600,000. The purchase is conditional on regulatory approval.
the Cooper Basin, PRL 18 has been suspended from 17/02/2014 to
11/10/2014. The licence has had its expiry date extended to 27/01/2015.
the Cooper Basin, applicants for PRLA 85 - PRLA 104 are Beach Energy Ltd 75% and Cooper
Energy Ltd 25%.
Also in the
Cooper Basin, applicants for PRLA 33 – PRLA 49 are Beach Energy Ltd
70% and Chevron Australia Exploration 1 P/L 30%.
the Otway Basin, GEL 291 has been renewed to 12/12/2018 over a reduced
area of 325 sq km. Work program is as follows -
Year 2: G&G studies
Year 3: G&G studies
Year 4: G&G studies
Year 5: G&G studies, 1 well
the Otway Basin, CalEnergy Resources (Australia) has withdrawn from T/34P and
its interest has been taken pro-rata by Origin Energy Resources and Benaris
In the Gippsland Basin, T/46P has expired and now reverts to vacant
in the Gippsland Basin, VIC/P 42 was cancelled effective 07/03/2014.
in the Gippsland Basin, the year 4 work program for VIC/P 47 has been
suspended for 6 months to 15/05/2014 and the term of the licence has been
extended to 15/05/2015. Oil Basins has JV approval to acquire
Strategic's 25% (12.5% held by Oil Basins Ltd and 12.5% held by Shelf Oil P/L).
the Otway Basin, Loyz Oil Australia has completed its earning obligations in VIC/P
62. A 70% interest in the licence is
to Loyz and the company will take over as operator.
VIC/P 62 is in the process of being renewed.
in the Otway Basin, PEP 151 has had its expiry date extended to
in the Otway Basin, PEP 169 has had its expiry date extended to
the Gippsland Basin, interests in PRL 2 Trifon Block will be Armour
Energy 15%, Petro Tech 42.5% and Jarden Corp Australia 42.5% following the
option exercise by Armour Energy.
the Barrow Basin, Tap Oil is looking to sell stakes in 4 oil and gas blocks.
Amongst the assets for sale are 10% in the Taunton oil field in TL/2 and an additional 12.4% in TP/7.
Tap wants to sell its stakes in the oil and gas fields as a package, but is
open to offers for singular assets. Tap’s 12% stake in the Prometheus and Rubicon
WA-34-R gas discoveries is also on offer. Finally, Tap’s 22.47%
interest in the Maitland gas and condensate field WA-33-R is up for
the Perth Basin, TP/26 has been granted to Perseverance Energy P/L on
24/02/2014. The licence will expire on 23/02/2020. Work program is as follows -
geotechnical studies $0.25m
Year 2: 300 km 2D seismic $0.45m
Year 3: geotechnical studies $0.25m
Year 4: 1 well $5m
Year 5: 200 km 2D seismic, geotechnical studies $1.3m
Year 6: 1 well $5m
In the Carnarvon Basin, WA-268-P has been reduced due to the grant of WA-53-R. WA-268-P now covers
2,837 sq km.
the Carnarvon Basin, the year 5 work program for WA-271-P has been
suspended by 15 months from 16/04/2014 to 16/07/2015. The licence has had its
expiry date extended to 16/07/2015.
the Browse Basin, WA-302-P is being relinquished.
the Browse Basin, Phoenix Oil & Gas acquired a total of 0.103125% from
Liberty's original 1.5% ORR in WA-314-P and WA-315-P.
the Browse Basin, INPEX Browse Ltd has transferred its interest in WA-341-P,
WA-343-P, WA-344-P and WA-494-P to INPEX Browse E&P
the Carnarvon Basin, the year 4 and year 5 work program for WA-348-P is now -
geotechnical studies $0.8m
Year 5: 1 exploration well $45m
In the Carnarvon Basin, WA-384-P expired on 20/02/2014. The area now reverts to vacant acreage.
the Carnarvon Basin, Japan Australia LNG (MIMI) P/L has transferred its
interest in WA-450-P to Finder No 4 P/L. Furthermore, the Olympus
location was lodged over WA-450-P on 11/02/2014.
In the Carnarvon Basin, Phoenix Oil & Gas Ltd acquired 0.2% of Liberty
Petroleum's ORR in WA-482-P.
the Petrel Sub Basin, WA-27-R is being renewed.
the Carnarvon Basin, Santos has elected not to participate in the WA-50-R
retention lease. Once the assignment paperwork is registered
with NOPTA it will be Apache Northwest P/L 100%.
the Carnarvon Basin, WA-53-R was granted to Chevron Australia P/L
17.75%, Chevron (TAPL) P/L 32.25%, Shell Development (Australia) P/L
25% and Mobil Australia Resources Company P/L 25% on 13/02/2014. The licence
will expire on 12/02/2019. Work program is as follows -
seismic interpretation, engineering & technical studies $0.35m
Year 2: engineering, & technical studies $0.25m
Year 3: engineering, & technical studies $0.15m
Year 4: engineering, & technical studies $0.15m
Year 5: gas market cost review $0.15m
In the Perth Basin, available area L 12-14 has been reduced and now
covers 669 sq km.
the Canning Basin, Oil Basins has been advised by the DMP that its acceptance
of an offer for the 5/07-8 EP exploration block in Derby has
been received. Timeframe from acceptance to
normally within one week.
the Carnarvon Basin, EP 325 is not being renewed. The area will revert
to vacant acreage on expiry.
the Perth Basin, the year 6 work program for EP 437 has been extended
by 8 months from 08/11/2013 to 07/07/2014. The licence has had its expiry
date extended to 07/07/2014.
In the Carnarvon Basin, EP 460 and EP 461 expired on 20/02/2014. The areas now revert to
the Perth Basin, Warrego Energy Ltd has signed a $40 million farm-out
agreement with Dyas BV and Mazarine Energy BV over the West Erregulla tight
gas field in EP 469. On completion of the farm-out and the receipt of
all regulatory approvals, Warrego will retain 20% interest in EP 469 with
Dyas taking 30% and Mazarine 50%. Mazarine also will take over operatorship
of the permit from Warrego following the completion of the appraisal program
the Carnarvon Basin, STP-SPA-22 is under application by UIL subsidiary
Cape Range Energy P/L.
the Perth Basin, application STP-SPA-6 has been refused. The area
reverts to vacant acreage.
the Canning Basin, GEP 43 was relinquished on 14/02/2014.
In the Southland
Basin, PEP 38220 was surrendered on 05/03/2014.
In the Taranaki
Basin, PEP 51150 has been renewed to 22/09/2018 over a reduced area of 192 sq km. Work program is as follows -
18 months: 200 km 2D seismic reprocessing, 1 well
42 months: 15 sq km 3D seismic or 37 km 2D seismic or 1 well
60 months: 2 wells, 60 sq km 3D seismic reprocessing
72 months: 360 sq km 3D seismic
84 months: advanced seismic processing
108 months: 1 well
part of PEP 51150 is now part of available areas 14TAR-R1 and 14TAR-R2. 14TAR-R1 and 14TAR-R2 now
cover 46,307 sq km and 1,331 sq km
In the Taranaki
Basin, the work program for PEP 53537 has been corrected and is -
18 months: studies, 400 km 2D seismic reprocessing, 100 km 2D
seismic, 18 sq km 3D seismic
24 months: studies
36 months: 200 km 2D seismic or 100 sq km 3D seismic
48 months: process and interpret the new seismic data acquired
60 months: 1 well, studies
S06-03 has been relinquished.
S06-04 has had its expiry date extended to 28/08/2014.
Papua New Guinea
We have undertaken
a major update to PNG licences (PRLs, PDLs and PPLs) this month. We have updated the status of
existing APPLs, however, we
have been unable to obtain details of new APPLs.
Applications APPL 432, APPL 433 and APPL 434 have been refused.
The expiry date for
PPL 235 has been corrected to 28/08/2015.
Oil Search has
acquired the Pacific LNG Group of Companies and their 22.835% of PRL 15
for US$900 million. The purchase was funded by the placement of 149.39
million shares to The Independent State of Papua New Guinea at $A8.20 per
Oil Search has a
binding Heads of Agreement with Pacific LNG shareholders and other parties to
undertake exclusive negotiations to acquire up to 13.425% in PPL 236 and
PPL 238 and 11.0423% in PPL 237 and PRL 39, subject to
the parties agreeing terms and satisfying any required third party
approvals. The exclusivity period extends for 6 months.
PPL 261 will expire on 16/03/2016.
licences have expired: PPL 275, PPL 76, PPL 291,
PPL 296 and PPL 299.
In PPL 338,
the farmin with Oil Search has lapsed and Kina now holds 100% of the
PPL 401 and PPL 402 are held by Strike Oil (PNG) Ltd, a
subsidiary of Hardie Energy.
PPL 442 and PPL 444 were granted to Kengaku Petroleum
Ltd 100% on 31/01/2014. The licences expire 30/01/2020.
interests in PRL 10 are held by Oil Search Ltd 49.55%, Oil Search
(PNG) Ltd 10% and Oil Search (Uramu) Ltd 40.45%.
The following grant
and expiry dates have been updated -
For more information please
contact GPinfo support on +61 2 9475 3500 or e-mail to firstname.lastname@example.org.
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