May 2013

Monthly Update
The May 2013 data update is now available ...

2013 Permits Map & Book
The 2013 editions of the Petroleum Permits of Australasia Map and Book are now available.  They were released at the APPEA Conference in Brisbane on Monday 27th May and are available for purchase ...

2013 Federal Gazettal of Offshore Areas
The 2013 Federal Gazettal of Offshore Areas has been finalised with 31 areas available for application ...

Industry Summary
In April 2013, Strike Energy agreed to sell its wholly-owned subsidiary Strike Energy Western Australia P/L to Torrens Energy for a cash consideration of $3.5 million. In May 2013, Torrens Energy elected not to go ahead with the acquisition of Strike Energy Western Australia P/L after finishing its due diligence ...

Permit Updates and Changes
In the Gunnedah Basin, the correct expiry date for both PEL 433 and PEL 434 is 13/02/2015 ...
 


Monthly Update

The May 2013 GPinfo update is now available.
 


2013 Permits Map & Book

The 2013 editions of the Petroleum Permits of Australasia Map and Book are now available.  They were released at the APPEA Conference in Brisbane on Monday 27th May and are available for purchase from stand 8 in the main Exhibition Hall at the Conference and also by mail order from our Sydney office.



Please click here to download a copy of the order form.

The APPEA Conference is being held at the Brisbane Convention & Exhibition Centre from 26th to 29th May.  As usual we will be in attendance. Please drop by stand 8 in the Exhibition Hall and say hello to Angela Willett, Catherine Speed and Dan Haigh.
 


2013 Federal Gazettal of Offshore Areas

The 2013 Federal Gazettal of Offshore Areas has been finalised with 31 areas available for application -
 

Licence

Basin

Closing Date

AC 13-1

Vulcan

21/11/2013

AC 13-2

Vulcan

21/11/2013

AC 13-3

Vulcan

21/11/2013

AC 13-4

Vulcan

21/11/2013

NT 13-1

Bonaparte

22/05/2014

NT 13-2

Bonaparte

22/05/2014

NT 13-3

Petrel Sub

22/05/2014

NT 13-4

Petrel Sub

21/11/2013

NT 13-5

Petrel Sub

21/11/2013

V 13-1

Otway

21/11/2013 (area altered - now covers 1,467 sq km)

V 13-2

Gippsland

22/05/2014

W 13-1

Browse

21/11/2013

W 13-10

Carnarvon

21/11/2013

W 13-11

Dampier

21/11/2013

W 13-12

Dampier

21/11/2013

W 13-13

Dampier

21/11/2013

W 13-14

Carnarvon

21/11/2013

W 13-15

Carnarvon

21/11/2013

W 13-16

Carnarvon

21/11/2013

W 13-17

Carnarvon

21/11/2013

W 13-18

Carnarvon

21/11/2013

W 13-19

Perth

22/05/2014

W 13-2

Browse

21/11/2013

W 13-20

Perth

22/05/2014

W 13-3

Browse

21/11/2013

W 13-4

Browse

22/05/2014

W 13-5

Browse

22/05/2014

W 13-6

Carnarvon

22/05/2014

W 13-7

Carnarvon

22/05/2014

W 13-8

Carnarvon

22/05/2014

W 13-9

Carnarvon

21/11/2013

 


Industry Summary

Company News

In April 2013, Strike Energy agreed to sell its wholly-owned subsidiary Strike Energy Western Australia P/L to Torrens Energy for a cash consideration of $3.5 million. In May 2013, Torrens Energy elected not to go ahead with the acquisition of Strike Energy Western Australia P/L after finishing its due diligence. The company did not provide a reason as to why it was opting out of the sale. It said it would no longer be capital raising or consolidating to fund the purchase. Any consultancy and technical support agreements with Strike would be terminated. Torrens is not required to pay Strike the $350,000 deposit or other costs. (Source: Strike Energy announcements, 18/04/2013 and 14/05/2013).

Armour Energy has received third party certification from DeGoyler and MacNaughton regarding the company’s resources. The estimate shows 264.4 bscf of gas associated with 23 conventional gas prospects found in the Coxco Dolomite in the McArthur Basin. The estimates also show 10.3 bcf relating to the Glyde 1 and Glyde 1/ST1 discovery wells. Another 18.7 trillion standard cubic feet of mean prospective resources in unconventional reservoirs in the Lynott and Reward formations at the Greater Cow Lagoon structure has been estimated internally by Armour. (Source: Armour Energy announcement, 24/04/2013).

Santos Ltd has committed to a $100 million drilling and appraisal program covering the Mereenie field in the Northern Territory. The program is to be carried out over the next 12 months and will be the prelude to further development if successful. Santos also said there were enough reserves in the field to extend its life “well beyond 2030”. The main focus of the program is thought to be oil but it also said any gas would be a bonus. (Source: Energy News Premium, 30/04/2013).

Tellus Resources Ltd has signed a share sale and purchase agreement whereby it will acquire 100% of private company PNC Aust P/L for 40 million Tellus shares. The agreement is subject to a number of conditions including shareholder approval. PNC Aust P/L has acquired (subject to registration) 100% interest in PEL 105 in the Cooper Basin and 100% interest in ATP 904P in the Surat Basin. (Source: Tellus Resources Ltd announcements, 304/04/2013 and 03/05/2013).

Coalbank Ltd has entered into a binding scheme implementation agreement with Loyal Strategic Investment Ltd whereby Loyal Strategic Investment will acquire 100% of Coalbank’s ordinary shares at $0.0175 per share. The scheme of arrangement is subject to a number of conditions; in particular Loyal Strategic has a three month due diligence and finance period and Coalbank shareholder approval is also required. The parties have until 30/09/2013 to satisfy the conditions. (Source: Coalbank Ltd announcement, 26/04/2013).

The natural gas agreement signed by the State Government with joint venture partners Buru Energy Ltd and Mitsubishi Corporation in November 2012 has now been introduced into parliament. The agreement provides long term tenure over the Company’s onshore gas resources in the Canning Basin. It also provides a mechanism to relieve the permits from the legal requirement to periodically relinquish 50% of the area of the permits until 31/01/2024 providing exploration, appraisal and development applications under the state agreement are met. Under the agreement, the partners are still required to obtain relevant state and federal environmental, safety, Aboriginal heritage and native title approvals for their exploration, development and infrastructure proposals. (Source: Buru Energy announcement, 09/05/2013).

Moby Oil & Gas Ltd will hold a meeting of shareholders and option holders on 14/06/2013 to decide on the fate of the Company’s wholly owned subsidiary, Enegex NL. The Supreme Court of Victoria ordered the meeting to consider if Enegex should be demerged from Moby. The demerger will be conditional on the success of Enegex listing on the ASX in lieu of Moby. Moby expects that if everything is passed, final approval should be received by 21/06/2013. (Source: Moby Oil & Gas Ltd announcement, 10/05/2013).

Nexus Energy Ltd has reached a binding agreement with Santos Ltd to amend the Longtom agreement relating to Nexus’ 100% ownership of the Longtom gas production asset. Under the revised agreement, Nexus will aim to drill Longtom 5 in late 2014, with increased deliveries to Santos under an accelerated profile from early 2015. The agreement covers the remaining 83 PJ of gas in an existing arrangement for delivery by the end of 2018, and any contractual agreements for surplus gas have been worked out. The agreement is subject to a number of conditions to be satisfied by 30/06/2013. (Source: Nexus Energy announcement, 14/05/2013).

WestSide Corporation has been advised by PetroChina International Investment Company Ltd, which submitted an indicative, non-binding proposal to acquire 100% of the shares in WestSide, that it will not proceed with the proposal. (Source: WestSide Corporation announcement, 14/05/2013).

Developments

Beach Energy and Drillsearch Energy are pleased to announce that the Bauer to Lycium Oil Pipeline is now operational. The PEL 91 joint venture partners finished commissioning the pipeline and other facilities on 29/04/2013 and started commercial operation soon after. The gross capacity of the pipeline is 10,000 bopd. The partners expect production to increase from the Bauer oil field to reach that capacity. (Source: Drillsearch Energy announcement, 01/05/2013).

Beach Energy and Drillsearch Energy are pleased to advise that production has begun at the Hanson Oil Field in PEL 91 in the Cooper Basin. The Hanson Oil Field has commenced at approximately 700 bopd from the McKinlay Formation pay zone with production being trucked to the Bauer central production facility. (Source: Drillsearch Energy announcement, 24/04/2013).

Woodside has entered into an agreement with Shell to investigate the possibility of using Shell’s floating LNG technology for the Browse LNG Project. The agreement sets out the key principles that would apply if the project was developed using an FLNG vessel. It also provides a framework for the Browse joint venture to go down the FLNG route as a development concept. Woodside will now discuss this and other development concepts with the other joint venture participants. (Source: Woodside announcement, 30/04/2013).

Empire Oil & Gas NL has advised that the completion of the Red Gully Gas and Condensate Processing Facility is nearing completion. The plant will treat gas from Gingin West 1 and Red Gully 1 before it enters the Dampier to Bunbury natural gas pipeline. It will also create crude oil that will be sent to the BP Kwinana refinery. Initial estimates priced the facility at $29.1 million. However, the company has spent more than $5 million extra on the project, taking final cost to $34.8 million. (Source: Empire Oil & Gas NL announcement, 18/04/2013).

3D Oil Limited is pleased to advise that the development concept for the West Seahorse Oil Field has been finalised and that Front Engineering Design has commenced. The joint venture has selected an offshore solution for the exploration of West Seahorse. Production will occur via a leased mobile offshore production unit to a tanker serving as a floating storage and offloading vessel.  The Final Investment Decision is expected to occur immediately following Regulatory Approval which is expected in the fourth quarter of 2013. The field life is anticipated to be 4 to 5 years with initial production rates are expected to be 12,000 bopd. (Source: 3D Oil Ltd announcement, 16/04/2013)
.

Discoveries

Beach Energy and joint venture partner Drillsearch Energy are pleased to announce a new oil discovery at the Kalladeina 2 well. The well encountered a net oil column of 4 metres in the McKinlay Sandstone and a 1 metre net oil column in the Namur Sandstone. A drill stem test produced the equivalent of 986 bopd with no associated water. The well has been cased and suspended as a new oil discovery and future oil producer. (Source: Drillsearch Energy announcement, 23/04/2013).

Beach Energy’s Rincon North 1 exploration well located in PEL 92 on the western flank of the Cooper Basin has been cased for future oil production from the McKinlay Formation and Namur Sandstone. Logging and testing show that a gross oil column of up to 7 metres is present in the McKinlay/Namur, although further testing is required to understand the size of the discovery. (Source: Cooper Energy announcement, 22/04/2013).

Chevron Corporation today announced further drilling success by its Australian subsidiary in the Carnarvon Basin with its Elfin 1 exploration well. Elfin 1 encountered approximately 40 metres of net gas pay in the upper Mungaroo Sands. It is Chevron’s 21st discovery offshore Western Australia since mid-2009. (Source: Chevron Corporation announcement, 23/04/2013).

Beach Energy and Cooper Energy have had  success at the Callawonga 7 well in the Cooper Basin. Callawonga 7 will be cased and suspended for completion as an oil producer in the McKinlay/Namur Formations and connected to the Callawonga production facilities. (Source: Cooper Energy announcement, 13/05/2013).

Senex Energy has identified up to 2.9 tcf of prospective resource in a conventional stratigraphic reservoir, including 141 bcf of 1C contingent resource, in a new gas field named Hornet. Production logging data from Kingston Rule 1 and Hornet 1 have confirmed the existence of a conventional, tight gas reservoir at a depth of 2,500 metres in the southern Cooper Basin. The wells have recently flowed gas at a stabilised rate of up to 2.2 mmscfd. Senex is now planning an appraisal program to confirm the extent of the Hornet gas field. (Source: Senex Energy announcement, 15/05/2013)
.


Permit Updates and Changes

New South Wales

In the Gunnedah Basin, the correct expiry date for both PEL 433 and PEL 434 is 13/02/2015.

In the Surat Basin, PEL 437 is in the process of being renewed.

In the Clarence/Moreton Basin, PEL 457 was renewed to 30/04/2017 over a reduced area of 749 sq km.   Red Sky Energy has received $1 million from ERM and retains a 20% interest in the licence.

In the Gunnedah Basin, Planet Gas has withdrawn from its farm-in agreement with Leichhardt Resources P/L in relation to PEL 468, PEL 469 and PEL 470. Planet Gas has no residual interest or liability.

In the Murray Basin, Petro Tech P/L (a subsidiary of Lakes Oil) has applied for PELA 148 over 10,018 sq km.

In the New England Fold Belt, the application area for PSPAPP 56 has been varied and now covers 23,691 sq km
.


Northern Territory

In the Money Shoal Basin, NT 12-1 and NT 12-2 closed 09/05/2013 and are now under consideration.

In the Petrel Sub-basin, NT 12-3 did not receive any bids and now reverts to vacant acreage.

On the Ashmore Platform, an application has been lodged with NOPTA for the surrender of AC/P 47.

Also on the Ashmore Platform, AC/P 49 has been cancelled.

In the Vulcan Sub-basin, the year 5 and 6 work programs for AC/P 50 have been swapped and are now -
Year 5: geotechnical studies $1.5m; Year 6: 1 exploration well $30m

Also in the Vulcan Sub-basin, the year 5 work program for AC/P 51 is now -
Year 5: 174 sq km multi-azimuth 3D processing $0.1m

In the Bonaparte Basin, NT/P 69 has been relinquished and now reverts to vacant acreage.

In the Petrel Sub-basin, the final terms for the farm-out of NT/P 81 to CWH Resources have been approved. Once finalised the interests will be Tangiers Petroleum Ltd 27%, Ansbachall P/L 3% and CWH Resources Ltd 70%.

In the Amadeus Basin, the area of EP 115 has been reduced due to EP 115 NM. EP 115 now covers 9,758 sq km. Santos is farming in for up to 70% in EP 115 NM.

In the Birrindudu Basin, EP 300 was granted to Oates, Tom 100% on 17/04/2013. The licence will expire on 16/04/2018.

In the Amadeus Basin, EP(A) 133 has had its application area varied and now covers 8,840 sq km.

In the Ngalia Basin, EP(A) 165 has had its application area varied and now covers 6,798 sq km.

In the Tennant Creek Block, EP(A) 259 and EP(A) 260 have had their application areas varied and now cover 2,235 sq km and 7,007 sq km respectively.

In the Ngalia Basin, EP(A) 309, EP(A) 310 and EP(A) 311 are under application by Tamboran Resources P/L.

In the Georgina Basin and Tennant Creek Block, EP(A) 312, EP(A) 313 and EP(A) 314 are under application by Territory Gas Aust P/L.

Geothermal


In the Arunta Basin, GEP 27831 was surrendered on 24/04/2013
.


Joint Petroleum Development Area

JPDA 06-102 has been relinquished and now reverts to vacant acreage
.


Queensland

Six onshore gazettal areas have been made available for application.  Applications close on 22/11/2013.

Gazettal Name Basin Area (sq km)
PLR 2013-1-1 Eromanga 1,887
PLR 2013-1-2 Bowen 1,231
PLR 2013-1-3 Bowen 2,513
PLR 2013-1-3 Surat 994
PLR 2013-1-5 Surat 938
PLR 2013-2-1 Carpentaria 1,245

In the Eromanga Basin, Beach’s interest in ATP 269P is held by Beach Energy 65.62% and Mawson Petroleum 27.59%.

Also in the Eromanga Basin, ATP 549P is in the process of being renewed.

In the Surat Basin, Stanwell transferred its interest in ATP 606P, ATP 972P, PL 297, PL 403, PL 404, PL 405, PL 406, PL 407, PL 408, PL 412, PL 413, PL 444, PL 469, PL 470, PL 471 and PCA 107 to Fairview Pipeline P/L (a wholly-owned subsidiary of Santos Ltd) effective 01/09/2012.  Tri-Star transferred 1.315% to Fairview Pipeline P/L effective 14/09/2012.

In the Surat Basin, ATP 632P has undergone a partial relinquishment and now covers a reduced area of 688 sq km.

In the Bowen Basin, QGC’s interest in ATP 648P and PCA 12 is now held by QGC P/L 48.125% & BG International 20.625%.

Also in the Surat Basin, ATP 746P has undergone a partial relinquishment and now covers a reduced area of 2,894 sq km.

In the Surat/Bowen Basin, the area covered by ATP 837P has been altered.  The renewed area for the licence has been redefined after negotiations between DEEDI and the permit holders. The licence covers 332 sq km.

In the Cooper Basin, Chevron has completed Stage 1 of its earning program in relation to ATP 855P by paying US$59 million in cash to acquire an 18% interest from Beach.  Chevron may elect to proceed to Stage 2 from 1/09/2014 to 31/03/2015, by paying US$36 million to earn an additional 18% from Beach Energy.

In the Adavale Basin, ATP 863P has been renewed to 31/12/2016.

In the Surat/Bowen Basin, PNC Aust P/L acquired 100% of ATP 904P from Well Traced and Deka Resources.  Subsequently, Tellus Resources signed an agreement to acquire 100% of PNC Aust P/L.

In the Bowen Basin, preferred tenderer Bow Energy Ltd has withdrawn its application ATP 1053P.  No further decision has been made on competing applications ATP 1051P, ATP 1052P, ATP 1054P and ATP 1055P.

In the Surat Basin, CNOOC Coal Seam Gas Co has completed the acquisition of 2.969% of PL 180 from QGC P/L.  Interests in the licence are now Australia Pacific LNG P/L 40.625%, QGC P/L 38.593%, BG International Ltd 17.813% and CNOOC Coal Seam Gas Co 2.969%.

Also in the Surat Basin, CNOOC Coal Seam Gas Co has completed the acquisition of 3.531% of PL 247 from QGC P/L.  Interests in the licence are now Australia Pacific LNG P/L 29.375%, QGC P/L 45.906%, BG International Ltd 21.188% and CNOOC Coal Seam Gas Co 3.531%.

In the Bowen Basin, interests in PL 269, PL 270, PL 271, PL 290, PL 291 and PL 292 are Vale Belvedere (BC) P/L 24.5% and Vale Belvedere P/L 75.5% after Vale completed the acquisition of Aquila Resources' remaining 24.5%.

In the Eromanga Basin, PL 303 was granted on 08/04/2013 over a reduced area of 64 sq km.   The licence will expire on 07/04/2034.

Geothermal

In the Carpentaria Basin, EPG 7 was relinquished on 28/02/2013 and now reverts to vacant acreage
.


South Australia

In the Ceduna Basin, S 12-1, S 12-2 and S 12-3 closed 09/05/2013 and are now under consideration.

In the Otway Basin, S 12-4 did not receive any bids and now reverts to vacant acreage.

In the Ceduna Basin, Statoil has signed a farm-in agreement with BP for a 30% interest in EPP 37, EPP 38, EPP 39 and EPP 40. The commercial terms of the transaction are confidential and it is subject to Australian government approval.

In the Cooper Basin in April 2013 PNC Aust P/L acquired a 50% interest in PEL 105. On the 03/05/2013 PNC Aust P/L agreed to purchase the remaining 50% in PEL 105 from Austin Exploration for $1.25m or shares in a PNC-related company to the value of $1.75m. This will result in PNC holding 100% in PEL 105. The purchase is subject to a number of conditions including shareholder approval of PNC by Tellus Resources.

Also in the Cooper Basin, Chevron has completed Stage 1 of the farm-in to PEL 218 by paying US$36 million in cash and US$95 million carry to acquire 30% interest from Beach. On completion of the Stage 1 work program, Chevron may elect to proceed to Stage 2 by paying US$41 million cash and US$47 million carry to earn an additional 30%.

In the Cooper Basin, PEL 95 was renewed over a reduced area of 1,280 sq km. The licence will expire 29/10/2017.

In the Cooper Basin, Senex Energy Ltd and Planet Gas Ltd have entered an agreement whereby Planet Gas will transfer 10% in PEL 514 N and 30% in PEL 514 S to Senex for cash consideration of $5 million payable to Planet Gas and a $9 million free carry on the drilling of two wells by November this year. Planet Gas will also get a 2% royalty of the net well head value of all oil produced from PEL 514 capped at $7.5 million.

In the Eromanga Basin, PELA 560 is now under application by Petroshale P/L 100%.

In the Arrowie Basin and Adelaide Fold Belt, PELA 577 and PELA 582 have had their applications varied and now cover 9,685 sq km and 1,137 sq km respectively.

In the Eromanga and Arrowie Basins, PELA 626, PELA 627 and PELA 628 are under application by Tamboran Resources P/L 100%.

In the Cooper Basin, Beach Energy Ltd has applied for PPLA 245 over the Butlers oil field
.


Tasmania

Onshore in the Tasmania Basin, Great South Land Minerals Ltd’s appeal against the Minister’s decision not to renew EL 14/2009 is due to be heard on 3rd-5th July 2013.

Petragas Ltd, a subsidiary of Petratherm Ltd, has applied for EL 3/2013 over 4,016 sq km in the Tasmania Basin.


Victoria

In the Otway Basin, V 12-1 and V 12-2 did not receive bids and both areas now revert to vacant acreage.

In the Gippsland Basin, V 12-3 and V 12-4 closed on 09/05/2013 and bids are now under consideration.

Two territorial areas and two onshore gazettal areas have been made available for application. Applications close on 21/11/2013.
 

Gazettal Name Basin Area (sq km)
V 13-1 (V) Gippsland 89
V 13-2 (V) Gippsland 234
VIC/M-13 (1) Murray 2,670
VIC/M-13 (2) Murray 4,914

Offshore in the Gippsland Basin, Royalco Resources Ltd acquired 1% of the Weeks Petroleum Royalty from a private investor for $8.5 million.  This is equivalent to a 0.025% over-riding royalty on all hydrocarbon production from licences VIC/L1 to VIC/L11 and VIC/L13 to VIC/L 20 in Bass Strait.

Also in the Gippsland Basin, Pertamina is in the process of divesting its interest in VIC/L 26, VIC/L 27 and VIC/L 28.

In the Gippsland Basin, Bass Strait Oil has exercised its pre-emptive rights in relation to the sale of Moby's 25% interest in VIC/P 41 to Basin Oil.  Interests will be: Bass Strait Oil Co 64.565%, Oil Basins Ltd 17.935% and Strategic Energy Resources 17.5%.

In the Gippsland Basin, an application has been submitted for a production licence over the West Seahorse field in VIC/P 57.

In the Otway Basin, a 12 month extension was granted on VIC/P 62.  The licence will expire on 12/03/2014.

In the Gippsland Basin, a surrender of VIC/P 66 was lodged with NOPTA on 25/03/2013 after the joint venture agreed not to acquire 3D seismic.

Onshore, in the Otway Basin, PEP 175 was granted to Bass Strait Oil Co Ltd 100% on 18/04/2013 over a reduced area of 1,325 sq km.  The licence will expire on 17/04/2018.

Geothermal

In the Otway Basin, GEP 10, GEP 12 and GEP 13 are in the process of being renewed.

Sequestration

In the Gippsland Basin, correct grant and expiry dates for VIC/GIP001 are 13/012012 and 12/01/2018 respectively.


Western Australia

In the Petrel Sub and Browse Basins, W 12-1 and W 12-5 did not receive any bids and now revert to vacant acreage.

In the Rowley Sub and Carnarvon Basins, W 12-10, W 12-11, W 12-6 and W 12-7 closed 09/05/2013 and are now under consideration.

In the Carnarvon Basin, interests in WA-191-P (Excluding Fletcher & Finucane) are Santos Ltd 41.598%, Kufpec (Perth) P/L 33.402% and JX Nippon Oil& Gas Ex (Aust) 25%.

In the Dampier Basin, a location was declared in WA-209-P over Okapi on 22/04/2013.

In the Barrow Basin, Apache Northwest P/L applied for a location in WA-334-P over the Kultarr discovery on 21/03/2013.

In the Browse Basin, Cornea Resources applied for a location in WA-342-P over the Cornea discovery on 15/02/2013.

In the Carnarvon Basin, a location was declared in WA-383-P over Pinhoe on 29/04/2013.

In the Carnarvon Basin, WA-385-P is being renewed.

In the Carnarvon Basin, WA-392-P was renewed over a reduced area of 1,608 sq km. The licence will expire 01/05/2018. Work program is as follows -

Year 1: geotechnical studies $1m
Year 2: 1 well, geotechnical studies, 1150 sq km 3D seismic reprocessing $51.25m
Year 3: geotechnical studies, 1150 sq km 3D seismic inversion $1.25m
Year 4: 1 well, geotechnical studies $51m
Year 5: geotechnical studies $1m

In the Browse Basin, the area of WA-397-P has been reduced due to the WA-397-P FO block which is held by Woodside Energy Ltd 100%. WA-397-P now covers 2,823 sq km.

In the Bonaparte and Carnarvon Basins, WA-403-P and WA-404-P are being renewed.

In the Petrel Sub-basin, the year 5 work program for WA-407-P has been extended by 12 months from 19/01/2013 to 18/01/2014.  The licence has had its expiry date extended to 18/01/2015. The year 3 work program has also been changed to -
Year 3: 200 sq km 3D seismic, 2000 km 2D seismic reprocessing $3.25m

In the Carnarvon Basin, the year 6 work program for WA-409-P has been changed to -
Year 6: 566 sq km 3D seismic PSDM reprocessing, studies $0.9m

In the Petrel Sub-basin, the final terms for the farm-out of permit WA-442-P to CWH Resources have been approved. Once finalised the interests will be Tangiers Petroleum Ltd 27%, Ansbachall P/L 3% and CWH Resources Ltd 70%.

In the Perth Basin, the EP 454 work program is pending suspension.

In the Carnarvon Basin, WA-54-L was granted on 24/04/2013 over the Finucane and Fletcher fields for an indefinite term/life of field. Interests in the Finucane field are Santos 37.498%, Kufpec (Perth) 37.502% and JX Nippon Oil & Gas Ex (Aust) 25%. Interests in the Fletcher field are Santos Ltd 49.997% and Kufpec (Perth) P/L 50.003%.

In the Canning, Carnarvon and Perth Basins, L 12-8, L 12-9, L 12-10, L 12-11, L 12-12, L 12-13, L 12-14 and re-released areas L 11-6, L 11-7, L 11-8, L 11-9 and T 11-3 closed 18/04/2013 and are now under consideration.

In the Canning Basin, Oilex Ltd has submitted bids on gazettal blocks L 12-8 and L 12-9.

In the Carnarvon, Officer and Perth Basins, L 12-1, L 13-1, L 13-2, L 13-3, L 13-4, L 13-5 and T 13-1 are to be re-released 28/05/2013. Bids close 14/11/2013.

In the Canning Basin, Perth Resources has the option to acquire a 49% non-operating interest in the Roberts Range Block (7 graticular blocks of 7/06-7) upon grant of the permit by funding seismic and drilling of a well, estimated at $10 million.

Also in the Canning Basin, Perth Resources has the right to acquire a 24% non-operating interest in the White Hills Block (4 graticular blocks of 8/06-7) upon grant of the permit by funding $4 million of expenditure on the White Hills Block.

In the Canning Basin, the area of EP 129 has been reduced due to the grant of L 17. EP 129 now covers 482 sq km. In addition, the Columbus royalty agreement over EP 129, L 6, L 8 and 2/91-2 L has been terminated in return for a cash consideration.

In the Perth Basin, EP 413 is in the process of being renewed.

In the Perth Basin, Allied Oil & Gas plc has withdrawn from EP 416, EP 426 and EP 432.

In the Perth Basin, the EP 437 work program is pending suspension.

In the Perth Basin, UIL is earning an initial 50% in EP 447 by carrying out the Badgingarra 2D seismic survey.

In the Canning Basin, United Oregon has withdrawn from EP 448. Key Petroleum’s interest increased to 78% and Indigo Oil to 22%.

In the Canning Basin, Buru Energy, Mitsubishi Corp and Rey Resources have executed an agreement pursuant to which Buru will sell interests in EP 457 and EP 458 to Rey and Mitsubishi of 15% and 37.5% respectively for a total cash payment of $21.058 million. The transaction is subject to FIRB and other regulatory approvals and on completion, interests for both CSG and Conventional in each permit will be Buru 37.5% (operator), Mitsubishi 37.5% and Rey 25%.

In the Carnarvon Basin, SPA 9 AO was granted to Palatine Energy P/L 50% and Green Rock Energy Ltd 50% on 16/04/2013. The acreage will expire 15/04/2014.

In the Officer Basin, gazettal L 12-3 is under application as STP-EPA-67 by Tamboran Resources P/L.

In the Officer Basin, gazettal L 12-4 is under application as STP-EPA-71 by Australian Petroleum Portfolio P/L.

In the Amadeus Basin, gazettal L 12-2 is under application as STP-EPA-72 by Merlin West P/L.

In the Perth Basin, gazettal L 12-6 is under application as STP-EPA-82 by UIL energy Ltd.

In the Perth Basin, gazettal L 12-7 is under application as STP-EPA-90 by Green Rock Energy Ltd.

In the Canning Basin, Admiral Oil NL has applied for STP-SPA-55 over 11,401 sq km.

In the Perth Basin, the sale and purchase agreement with Jingemia Oil Company P/L for the sale of Origin’s 49.19% interest in L 14 has been terminated.

In the Canning Basin, L 17 was granted to Buru Energy Ltd 100% on 10/04/2013. The licence will expire on 9/04/2034.

In the Perth Basin, Origin Energy Developments P/L 67% and ARC (Beharra Springs) P/L 33% have applied for STP-PRA-7 over 150 sq km.


New Zealand

Offshore gazettal areas 13GSC, 13RNL and 13TAR opened for bidding on the 24/05/2013 and close 26/09/2013.

Onshore gazettal areas 13EC1, 13EC2, 13TAR1, 13TAR4 and 13TAR5 also opened for bidding on the 24/05/2013 and close 26/09/2013.

In the Great South Basin, PEP 50122 has been renewed over a reduced area of 7,688 sq km. The licence will expire 25/07/2017. Work program is as follows -

18 months: studies, 500 km 2D seismic reprocessing
36 months: studies, 400 km 2D seismic
48 months: 200 km 2D seismic
60 months: 1 well
84 months: geochemical sampling
96 months: 300 km 2D seismic
120 months: 1 well

In the Taranaki Basin, PEP 51156 has been relinquished and now reverts to vacant acreage.

In the Canterbury Basin, PEP 52717 has had its area extended and now covers 3,419 sq km. Furthermore, New Zealand Oil & Gas has acquired a 50% operating interest from Beach Petroleum (NZ) P/L.


Papua New Guinea

This month’s GPinfo shipment includes a major update of PNG licence areas.

A number of previously unknown grant and expiry dates have been included in GPinfo this month -

Licence Grant Date Expiry Date Licensee
PPL 317 20/08/2009 20/08/2015 Hillsborough Ltd
PPL 323 29/03/2011 29/08/2017 Tescom Ltd
PPL 336 25/02/2011 25/02/2017 Samchang PNG Ltd
PPL 345 09/08/2010 08/08/2016 Petromin PNG Holdings Ltd
PPL 364 19/04/2011 18/04/2017 New Ports Holding 2 (PNG) Ltd
PPL 372 23/01/2012 22/01/2018

Jurassic International Holdings Ltd

PPL 373 23/01/2012 22/01/2018

Jurassic International Holdings Ltd

PPL 391 27/03/2012 26/03/2018 Taurus Oil Ltd
PPL 396 16/03/2012 16/03/2018 Hornby Energy Ltd
PPL 397 16/03/2012 16/03/2018 Penant Resources Ltd
PPL 401 27/03/2012 26/07/2018 Jurassic International Holdings Ltd
PPL 402 27/03/2012 26/07/2018 Jurassic International Holdings Ltd
PPL 406 31/05/2012 30/05/2018 Petromin PNG Holdings Ltd
PPL 407 31/05/2012 30/05/2018 Petromin PNG Holdings Ltd
PPL 409 31/05/2012 30/05/2018 Petromin PNG Holdings Ltd
PPL 410 31/05/2012 30/05/2018 Petromin PNG Holdings Ltd
PPL 411 31/05/2012 30/05/2018 Petromin PNG Holdings Ltd
PPL 412 31/05/2012 30/05/2018 Petromin PNG Holdings Ltd
PPL 421 08/03/2012 07/03/2018 Elevala Energy Ltd
PPL 422 08/03/2012 07/03/2018 Elevala Energy Ltd
PPL 432 08/03/2012 07/03/2018 Elevala Energy Ltd
PPL 424 08/03/2012 07/03/2018 Elevala Energy Ltd
PPL 425 08/03/2012 07/03/2018 Elevala Energy Ltd

In the Papuan Basin, Pacific Rubiales Energy PNG holds a 12.9% gross (10% net) interest in PPL 237.

Horizon’s interest in PPL 259 is held by wholly-owned subsidiary Ketu Petroleum.

The correct expiry date for PPL 356, PPL 357 and PPL 366 is 29/11/2016.

The correct expiry date for PPL 358 is 21/11/2016.  The area in GPinfo has been updated and now covers 6,116 sq km.

PPL 366 includes graticular block # 3093.  The area has been updated in GPinfo and covers 1,278 sq km.

Horizon has acquired 90% of PPL 372 and PPL 373 from Jurassic International Holdings Ltd and has taken over operatorship.

PPL 430 was granted to Ketu Petroleum (a subsidiary of Horizon) 50% and Eaglewood Energy Inc 50%. Work program is as follows -

Years 1-2: technical studies, 20k seismic $1m
Years 3-4: 1 exploration well
Years 5-6: 1 well contingent on a discovery

PRL 11 is in the process of being renewed.

Interests in PRL 15 are SPI (208) Ltd 77.16% and Pacific LNG Operations 22.84%.

 


For more information please contact GPinfo support on +61 2 9437 6255 or e-mail to info@gpinfo.com.au.

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