November 2011

Monthly Update
The November 2011 data update is now available ...

New Seismic Data Layers
The November update includes 2 new data layers supplied to us by Fugro Multi Client Services ...

Adding User Data Layers
GPinfo allows you to add in data layers so you can take advantage of the many digital datasets which are available ...

Industry Summary
Beach Energy Ltd has today launched an unconditional on-market takeover offer for Adelaide Energy Ltd. Beach has offered 20 cents per share for all of the issued and outstanding ordinary shares of Adelaide ...

Permit Updates and Changes
In the Gunnedah Basin, TRUenergy will acquire 20% in PEL 238, PAL 2, PPL 3, PEL 433 and PEL 434 from Santos for $284m ...
 

Monthly Update

The November 2011 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 November data you will need to re-set your permissions for the GPinfo data.  Click here for more information.
 

New Seismic Data Layers

The November update includes 2 new data layers supplied to us by Fugro Multi Client Services.

The new layers are in the Map Manager group called OVERLAYS -

Fugro MCS 2D contains a stick-map of nearly 750,000 km of 2D seismic.

Fugro MCS 3D contains polygons representing more than 50,000 sq km of 3D seismic, including the recently acquired Phoenix, Zeebries and Zeus surveys
.



Please note the following -

  -  The layers should display in purple with transparency set at 50% for the 3D polygons.
  -  Line names are on for the 2D data but only visible at line-ends when you zoom to 1:1 million or closer. 
  -  The 2D data is grouped by project so when you select a line, the entire project is highlighted.

The layers 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.
  -  Change transparency by right clicking on the layer name and selecting Properties > Transparency.

Can't see the new data?

Correct display of the new data layers 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 November data update has been installed.

If the November 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.


Adding User Data Layers

GPinfo allows you to add in data layers so you can take advantage of the many free digital datasets which are available and which are compatible with GPinfo.  User-added data layers behave in the same way as system data layers in GPinfo and can be displayed and manipulated using all of the standard functionality that the software interface provides.

For example, GPinfo can display -

  -  Vector data that is in MapInfo (.mif or .tab) or ArcGIS (.shp) formats
  - 
Geo-referenced high resolution, large format imagery (.ecw or .jp2)
  -  It can handle Lat/Lon or X/Y co-ordinate systems

Geoscience Australia has many free datasets available on its website which might be of interest - such datasets as geological provinces, river basins, rail network, population centres, maritime boundaries, ATSIC boundaries, drainage network to name but a few.  Many other government agencies also offer free data.

Equally, if you have a digital file in a suitable format that contains your own data, prospects and leads or planned pipeline routes for instance, you can attach it in GPinfo and view it in relation to existing datasets.

Click here for information on how to add your own data in GPinfo.

Click here to browse Geoscience Australia's Free Data Downloads page.

Please contact
GPinfo support on +61.2.9437.6255 or by e-mail to info@gpinfo.com.au for assistance.


Industry Summary

Company News

Beach Energy Ltd has today launched an unconditional on-market takeover offer for Adelaide Energy Ltd. Beach has offered 20 cents per share for all of the issued and outstanding ordinary shares of Adelaide Energy that it does not already own, valuing Adelaide at $94 million. The offer provides an opportunity for Adelaide Energy shareholders to receive a 51.5% premium to the one month and three month Volume Weighted Average Price of $0.132 per Adelaide Energy share. The offer closes on 22nd December 2011. (Source: Beach Energy announcement 07/11/2011).

Prior to the Beach takeover offer Beach held a relevant interest of 19.95% in the ordinary shares of Adelaide Energy. Beach has increased its relevant interest in Adelaide Energy to 79.91% as a result of strong acceptances by Adelaide Energy shareholders. Beach now has majority control of Adelaide Energy. (Source: Beach Energy announcement 21/11/2011).

Key Petroleum Ltd has signed an agreement with Empire Oil & Gas NL to purchase 100% of Empire’s subsidiary Company Gulliver Productions P/L which holds interests in EP 104, R 1, L 15, EP 438 and EP 448 located in the Canning Basin, Western Australia. Under the agreement, Key will issue 52 million ordinary shares to Empire, representing 19% of the total issued capital in Key on completion. Key will also assign a 22.5% interest in EP 437 to Empire. The acquisition and issue of shares is subject to shareholder approval.  A decision should be made in late November 2011. (Source: Key Petroleum announcement 24/10/2011).

The board of Alcoa is pleased to advise the previously announced gas supply deal with Empire Oil & Gas is now unconditional. Empire, together with its joint venture partners ERM Gas P/L and Wharf Resources plc will supply 15,000 terajoules of gas from the Gingin West and Red Gully gas fields to Alcoa with a target date of late 2012. (Source: Empire Oil & Gas announcement 25/10/2011).

In other Alcoa news, Alcoa has extended the existing Gas Supply Agreement with Buru, giving Buru until January 1, 2013 to establish sufficient reserves to supply up to 500 petajoules of gas to Alcoa. The extension will provide Buru with additional time to appraise and prove up reserves at the Yulleroo field and the Valhalla accumulation and to also identify additional gas resources as part of Buru’s continuing drilling program. (Source: Buru announcement 25/10/2011).

Santos today announced that they have agreed to sell their working interest in Evans Shoal in the Bonaparte Basin for up to $US350 million. Santos advised their 40% in NT/P 48 will be sold to a major international exploration and production company already operating in Australia. Santos will receive a cash consideration of $250 million, and a contingent future cash payment of up to $100 million depending on a positive final investment decision being reached and the level of proved and probable reserves at FID. (Source: Santos announcement 28/10/2011, Energy News Premium 01/11/2011).

Green Rock Energy Ltd is pleased to announce the execution of a binding agreement with New World Energy Ltd to jointly develop geothermal exploration permits held by both companies in the North Perth Basin, Western Australia. Green Rock currently holds 100% interest in 9 geothermal permits, while New World holds 100% in 8. For the agreement to go ahead NWE will have to agree to the terms of a MoU signed between Green Rock and Pacific Hydro in August this year. Green Rock will also need Pacific Hydro’s consent to farm out permit interests to NWE. (Source: Green Rock Energy announcement 31/10/2011, Energy News Premium 31/10/2011).

Santos has today completed its acquisition of Eastern Star Gas giving Santos the largest natural gas reserves position in NSW. Eastern Star Gas shares were suspended from trading on 03/11/2011 and are expected to be removed from the official ASX list on 21/11/2011. The Scheme of Arrangement allowed for Santos to acquire 100% of the outstanding ordinary shares in Eastern Star Gas and the subsequent sale of a 20% working interest in ESG's permits in the Gunnedah Basin, NSW for A$284 million to TRUenergy Holdings P/L. Santos now operates and owns 80% of ESG's coal seam gas permits with TRUenergy owning the remaining 20%. (Source: Eastern Star Gas announcement 17/11/2011, Santos announcement 17/11/2011).

The off-market takeover for Flow Energy by FAR Ltd is now fully unconditional. FAR is offering 42.66 shares for every 1 Flow Energy Share. The offer remains open until the 18/11/2011. As of today, FAR has a relevant interest of 93% in Flow Energy. (Source: FAR Ltd announcement 10/11/2011).


Australia Pacific LNG P/L and Kansai Electric Power Company today signed a binding Heads of Agreement for the sale and purchase of approximately 1 million tonnes of LNG per year for 20 years. Under the terms of the agreement, Australia Pacific LNG will supply Kansai Electric with LNG from its LNG facility on Curtis Island, deliveries are anticipated to commence in mid 2016. The agreement is conditional on Australia Pacific LNG making a final investment decision on the second train, targeted for early 2012. (Source: Origin Energy announcement 17/11/2011).

Development News

Sembcorp Marine’s wholly owned subsidiary SMOE has been awarded a $US100 million contract, which may increase to $US150 million, for the module assembly on the Australia Pacific LNG project on Curtis Island, Queensland, Australia. The contract, awarded by Bechtel Overseas, covers the assembly of process and cryogenic pipe-rack modules for the LNG facility. Bechtel and SMOE will form an integrated management team to oversee the project, scheduled to be completed in three years. (Source: Energy News Premium 19/10/2011).

Chevron has reportedly ordered a $US1.4 billion natural gas processing platform for its Wheatstone LNG project from South Korean group Daewoo Shipbuilding & Marine Engineering. The platform, which will be capable of handling as much as 1.9 billion cubic feet of gas, is expected to be delivered during second-half 2014. (Source: Energy News Premium 18/10/2011).

Monadelphous has secured a contract from the Clough Sea Trucks joint venture for the Gorgon LNG project, located offshore Western Australia. The contract is for the construction of the onshore portion of the domestic gas pipeline that will transport gas from the Gorgon facilities on Barrow Island to the Dampier Bunbury Natural Gas Pipeline. (Source: Energy News Premium 21/10/2011).

Santos has secured a contract to supply 14.8 petajoules of gas to Minara Resources’ Murrin Murrin nickel and cobalt mine from its share of the Reindeer gas field in the Carnarvon Basin offshore Western Australia. The 6 year contract will start in 2013 with the gas being processed at the onshore Devil Creek plant. Santos holds a 45% stake in the Reindeer/Devil Creek development, which is operated by Apache Energy. (Source: Energy News Premium 07/11/2011).

TAG Oil Ltd is pleased to announce the completion and commissioning of the Sidewinder Production Facility and 3.5km pipeline located in the onshore Taranaki Basin, New Zealand. Tag has connected two gas-condensate wells at Sidewinder in PEP 38748 to a pipeline and placed them on continuous production. The facility is designed to handle up to 30 million cubic feet of gas production per day, as well as any oil production. TAG expects to tie in the other two Sidewinder wells later this month. (Source: Tag Oil announcement 31/10/2011).

Local civil construction company Ertech has been awarded a $50 million contract to supply general services on Chevron’s Gorgon LNG project. Under the general services contract Ertech will provide a multi-skilled workforce and equipment to support construction on the site including road works, earthworks, civil, mechanical, electrical and building works. (Source: Energy News Premium 09/11/2011).


Discoveries

Beach Energy Ltd and Drillsearch Energy Ltd are pleased to announce another successful development well at their Bauer field in the Cooper Basin South Australia. Bauer 2 intersected 3m of clean net pay in the Namur Sandstone and a 3.5m gross oil column in the McKinlay formation. Bauer 2 has been cased and suspended as a future production well. (Source: Drillsearch Energy announcement 25/10/2011, Energy News Premium 25/10/2011).

The Beach and Drillsearch joint venture have more to celebrate with their fifth new oil discovery in the Western Flank Oil Fairway at Basham 1, the final well in a six well exploration drilling campaign in PEL 91. Log interpretation indicates a gross oil column of approximately 15m with 4 to 5 metres of net pay. Basham 1 has been cased and suspended for further evaluation. (Source: Drillsearch announcement 07/11/2011).

Buru Energy has announced an onshore oil discovery at Ungani 1/ST1, the first oil discovery in the Canning Basin since the 1980’s. Ungani 1/ST1 flowed for eight hours during a cased hole test at varying choke sizes. The flow hit a peak rate of 1647 barrels of oil per day on a half-inch choke with wellhead pressure at 18 psi. (Source: Energy News Premium 18/10/2011).

Chevron Corp has announced success with the drilling of two new exploration wells in the Carnarvon Basin offshore Western Australia. The Acme West 1 well encountered approximately 115m of net gas pay while Acme West 2 struck 56m of net gas pay. The two wells add additional resources adjacent to last year's Acme discovery. The discoveries are expected to boost expansion opportunities in the company’s Wheatstone LNG project. (Source: Chevron Corp announcement 27/10/2011, Energy News Premium 28/10/2011).

Senex Energy and joint venture partner Beach are pleased to announce their success with Growler 6, the first well in the 11 well exploration and appraisal drilling program in PRL 15 and PEL 104. Growler 6 has hit a 17m oil column in the Birkhead formation in the western flank of the Cooper Basin, with net oil pay of at least 6m. Growler 6 has been cased and suspended as a future production well. (Source: Senex announcement 07/11/2011).

Advent Energy has flowed gas from its Waggon Creek 1 and Vienta 1 wells in EP 386, onshore Bonaparte Basin Western Australia. Preliminary field observations at Waggon Creek 1 showed that during the 6 hour flow test the well flowed gas at a rate of approximately 1.07 million standard cubic feet of gas per day (MMscf/d) which was still rising slowly at the end of the flow test. Previous testing at the Vienta 1 produced gas flows at initial rates of 1.97 MMscf/d and reducing to 0.53 MMscf/d within an hour’s flow. Both wells have been suspended for further production testing during the 2012 dry season. (Source: MEC Resources announcement 07/11/2011).
 


Permit Updates and Changes

New South Wales

In the Gunnedah Basin, TRUenergy will acquire 20% in PEL 238, PAL 2, PPL 3, PEL 433 and PEL 434 from Santos for $284m.

In the Clarence-Moreton Basin, PEL 16 is in the process of being renewed
.


Northern Territory

The following are new applications -

Application

Basin

Applicant

 EP(A) 240

McArthur

Paltar Petroleum Ltd
 EP(A) 254

McArthur

NT Gas Aust P/L

EP(A) 255

Pine Creek Geosyncline

NT Gas Aust P/L

EP(A) 256

Pine Creek Geosyncline

NT Gas Aust P/L

EP(A) 257

McArthur

NT Gas Aust P/L

EP(A) 258

Wiso

Territory Gas Aust P/L

EP(A) 259

Tennant Creek Block

Territory Gas Aust P/L

EP(A) 260

Tennant Creek Block

Territory Gas Aust P/L

EP(A) 261

Georgina

Territory Gas Aust P/L

EP(A) 262

Tennant Creek Block

Territory Gas Aust P/L

EP(A) 263

Davenport Syncline

Territory Gas Aust P/L

EP(A) 264

Davenport Syncline

Territory Gas Aust P/L

EP(A) 265

Granites-Tanami

NT Gas Aust P/L

EP(A) 266

Arafura

Paltar Petroleum Ltd

EP(A) 267

Arafura

Paltar Petroleum Ltd

EP(A) 268

Money Shoal

Paltar Petroleum Ltd

EP(A) 269

Money Shoal

Paltar Petroleum Ltd

EP(A) 270

Arafura

Paltar Petroleum Ltd

EP(A) 271

Arafura

Paltar Petroleum Ltd

EP(A) 272

Money Shoal

Paltar Petroleum Ltd

EP(A) 273

McArthur

Paltar Petroleum Ltd

EP(A) 274

Arunta

NT Gas Aust P/L

EP(A) 275

Arunta

NT Gas Aust P/L

EP(A) 276

Arunta

NT Gas Aust P/L

EP(A) 277

Arunta

NT Gas Aust P/L

EP(A) 278

Arunta

NT Gas Aust P/L

EP(A) 279

Arunta

NT Gas Aust P/L

EP(A) 280

Arunta

NT Gas Aust P/L

EP(A) 281

Arunta

NT Gas Aust P/L

EP(A) 282

Arunta

NT Gas Aust P/L

EP(A) 283

Arunta

NT Gas Aust P/L

EP(A) 284

Arunta

NT Gas Aust P/L

EP(A) 285

Arunta

NT Gas Aust P/L

In the Amadeus Basin, EP 156 has been granted to Oilco P/L on 07/11/2011. Licence will expire 06/11/2016.

In the Petrel Sub-Basin, no permit was awarded over gazettal area NT 10-1. The area has returned to vacant acreage.

In the Bonaparte Basin, NT/P 62 and NT/P 65 have expired and are not being renewed.


Queensland

Onshore release areas PLR 2001-1-1 to PLR 2001-1-3 and PLR 2011-2-1 to PLR 2011-2-16 closed on 14/11/2011.  Applications received are as follows -

PLR 2011-1-3 - competing applications -

 - ATP 1104P by Chi Oil & Gas P/L
 - ATP 1105P by Bridgeport Energy Ltd
 - ATP 1106P by Strike Energy Ltd

PLR 2011-2-13 - competing applications -

 - ATP 1107P by Armour Energy P/L
 - ATP 1108P by Vamgas P/L
 - ATP 1109P by Seymour Energy P/L
 - ATP 1110P by Eureka Petroleum P/L
 - ATP 1111P by Palatine Energy P/L

PLR 2011-2-2 -

 - ATP 1112P by Eureka Petroleum P/L

PLR 2011-2-4 - competing applications -

 - ATP 1113P by Palatine Energy P/L
 - ATP 1114P by Eureka Petroleum P/L
 - ATP 1115P by Sun Resources NL

PLR 2011-2-5 - competing applications -

 - ATP 1116P by PetroFrontier (Australia) P/L
 - ATP 1117P by Eureka Petroleum P/L
 - ATP 1118P by Palatine Energy P/L
 - ATP 1119P by Sun Resources NL

PLR 2011-2-6 - competing applications -

 - ATP 1120P by Sun Resources NL
 - ATP 1121P by Palatine Energy P/L
 - ATP 1122P by Pangaea Resources P/L
 - ATP 1123P by Eureka Petroleum P/L
 - ATP 1124P by PetroFrontier (Australia) P/L

PLR 2011-2-7 - competing applications -

 - ATP 1125P by Quasar Energy P/L
 - ATP 1126P by Chinampa Exploration P/L
 - ATP 1127P by Exoma 2-7 P/L
 - ATP 1128P by Tamboran Resources P/L

PLR 2011-2-8 - competing applications -

 - ATP 1129P by Chinampa Exploration P/L
 - ATP 1130P by Exoma 2-8 P/L
 - ATP 1131P by Tamboran Resources P/L
 - ATP 1132P by Quasar Energy P/L
 - ATP 1133P by Real Energy Queensland P/L

PLR 2011-2-9 - competing applications -

 - ATP 1134P by Tamboran Resources P/L
 - ATP 1135P by Quasar Energy Ltd
 - ATP 1136P by Real Energy Queensland P/L
 - ATP 1137P by Exoma 2-9 P/L
 - ATP 1138P by Chinampa Exploration P/L

PLR 2011-2-10 - competing applications -

 - ATP 1139P by Tamboran Resources P/L
 - ATP 1140P by Bridgeport Energy Ltd
 - ATP 1141P by Australian Shale Oil Resources Company Ltd
 - ATP 1142P by Quasar Energy Ltd
 - ATP 1143P by Chinampa Exploration P/L

PLR 2011-2-11 - competing applications -

 - ATP 1144P by Quasar Energy Ltd
 - ATP 1145P by Coomooroo Energy (Oil) P/L
 - ATP 1146P by Tamboran Resources P/L
 - ATP 1147P by Bridgeport Energy Ltd
 - ATP 1148P by Australian Shale Oil Resources Company Ltd
 - ATP 1149P by Chinampa Exploration Ltd

PLR 2011-2-12 - competing applications -

 - ATP 1150P by Exoma 2-12 P/L
 - ATP 1151P by Strike Energy Ltd
 - ATP 1152P by Australian Shale Oil Resources Company Ltd
 - ATP 1153P by Chinampa Exploration P/L
 - ATP 1154P by Cooper Energy Ltd
 - ATP 1155P by Quasar Energy Ltd
 - ATP 1156P by Real Energy Queensland P/L
 - ATP 1157P by Coomooroo Energy (Oil) P/L
 - ATP 1158P by Tamboran Resources P/L

PLR 2011-2-13 - competing applications -

 - ATP 1159P by Chinampa Exploration P/L
 - ATP 1160P by UIL Energy Australia P/L
 - ATP 1161P by Real Energy Queensland P/L
 - ATP 1162P by Tamboran Resources P/L
 - ATP 1163P by Bridgeport Energy Ltd
 - ATP 1164P by Australian Shale Oil Resources Company Ltd
 - ATP 1165P by Quasar Energy Ltd
 - ATP 1166P by Santos QNT P/L
 - ATP 1167P by Seymour Energy P/L
 - ATP 1168P by Cooper Energy Ltd
 - ATP 1169P by Strike Energy Ltd

PLR 2011-2-14 - competing applications -

 - ATP 1170P by Quasar Energy Ltd
 - ATP 1171P by Bridgeport Energy Ltd
 - ATP 1172P by Chi Oil & Gas P/L
 - ATP 1173P by Seymour Energy P/L

PLR 2011-2-16 - competing applications -

 - ATP 1174P by Santos QNT P/L
 - ATP 1175P by Chi Oil & Gas P/L
 - ATP 1176P by Quasar Energy Ltd

Gazettal areas PLR 2011-1-1, PLR 2011-1-2, PLR 2011-2-3 and PLR 2011-2-15 did not get bids.

In the Surat Basin, Ausam Resources P/L (a subsidiary of Bounty Oil & Gas) has acquired 100% of ATP 470P Formosa and ATP 470P Redcap.

In the Bowen Basin, ATP 564P has been renewed to 30/04/2014.

Also in the Bowen Basin, ATP 592P has undergone a partial relinquishment and now covers 1,676 sq km.

In the Surat Basin, Bow Energy now holds 92.1% of ATP 608P and 94.625% of ATP 608P Rookwood Block with private interests holding 7.9% and 5.375% respectively.  Kingston Petroleum no longer has an interest in the Rookwood block.

In the Clarence-Moreton Basin, ATP 644P has undergone a partial relinquishment and now covers 607 sq km.

In the Bowen Basin, ATP 655P is in the process of being renewed.

In the Surat Basin, ATP 665P has undergone a partial relinquishment and now covers 338 sq km.

In the Narrows Basin, ATP 716P has undergone a partial relinquishment and now covers 2,056 sq km.

In the Bowen Basin, ATP 745P is in the process of being renewed.

In the Cooper Basin, ATP 940P was granted on 07/11/2011 to QGC P/L 60% and Drillsearch Energy Ltd 40%.  The licence will expire on 06/11/2015.  Overlapping applications ATP 936P, ATP 937P, ATP 938P, ATP 939P, ATP 941P, ATP 942P and ATP 943P were refused.

In the Bowen Basin, a Santos-led consortium has applied for potential commercial areas PCA 112 and PCA 113 over 234 sq km and 78 sq km respectively.

In the Surat Basin, production licence PL 263 was granted on 03/11/2011.  The licence will expire on 02/11/2014.  Exploration permit ATP 620P is now entirely covered by production licences and no longer exists.

In the Surat Basin, Australia Pacific LNG P/L has applied for production licence PL 481 over 3 sq km.


South Australia

In the Officer Basin, a twelve month suspension period has been granted to the Year 1 work program for PEL 147 and PEL 148. Year 1 has been extended from 22/08/2011 to 21/08/2012. The licences will expire on 28/07/2017.

In the Cooper Basin, a six month suspension period has been granted to the Year 5 work program for PEL 182. Year 5 has been extended from 02/10/2011 to 01/04/2012. The licence will expire on 23/05/2014.

In the Cooper Basin, PEL 514 has been granted to Senex Energy Ltd 50% (operator) and Planet Gas Ltd 50% on 09/11/2011. The licence will expire 08/11/2016.

In the Cooper Basin, PEL 93 is being renewed.

The following are new applications -

Application

Basin

Applicant

 PELA 577

Arrowie

NAVGAS P/L
 PELA 578

Arrowie

NAVGAS P/L

PELA 579

Eromanga

NAVGAS P/L

PELA 580

Eromanga

Kush Mining Corporation P/L

PELA 581

Eromanga

Kush Mining Corporation P/L

PELA 582

Adelaide Fold

Nicavid Consulting & Design P/L

Geothermal Permits

In the Arrowie Basin, GEL 213 expired 02/09/2011 and is not being renewed.

In the Arrowie Basin,
GELA 576 is a new application by Near Surface Geothermal Energy P/L.


Tasmania

Offshore, T/39P was not renewed and the licence expired on 24/08/2011.

In the Gippsland Basin, T/46P has undergone a six month suspension.  Year 4 will now end on 05/03/2012 and the permit expiry date has been extended to 05/03/2014. Current work program is as follows -

Year 1: 500k seismic reprocessing, G&G studies $0.15m
Year 2: 250k 2D seismic, G&G studies $0.45m
Year 3: 250k 2D seismic, G&G studies $0.45m
Year 4: G&G studies $0.25m
Year 5: G&G & engineering studies $0.5m
Year 6: 1 well, G&G studies $0.1m

SEL 58/2008
has undergone a partial relinquishment and now covers 39 sq km.

Geothermal

Onshore permit SEL 15/2010 has been relinquished.



Victoria


Offshore in the Gippsland Basin, Moby Oil & Gas has reached formal agreement and has received JV approval to transfer 5% of its interest in VIC/P 41 to Oil Basins Ltd.

In the Gippsland Basin, Oracle Energy Corp has signed a non-binding term sheet to potentially earn 50% of VIC/P 57 by drilling 2 wells with a total carried expenditure of up to $30m.  Each well will earn OEC 25%. Oracle will conduct due diligence, and will have an exclusive period until 17/02/2012 to sign definitive documentation.

Onshore in the Gippsland Basin, Icon Energy P/L is the preferred tenderer for PEP 172 over release area VIC/G 10-1.  Icon Energy has 2 years to reach native title agreement after which the Victorian DPI will consider whether to grant the permit to Icon Energy.

Onshore release area VIC/G 10-2 and VIC/G 10-4 closed on 18/11/2010.  Both areas will not have licences offered and now revert to vacant acreage.



Western Australia


In the Canning Basin, EP 104 has been reinstated this month following an error on the Western Australia Department of Mines and Petroleum website that saw its removal last month. EP 104 expired 03/10/2011. A suspension has been lodged, pending approval.

In the Perth Basin, EP 381 has been renewed over a reduced area and now covers 498 sq km. Licence will expire 06/11/2016. Work program is as follows -

Year 1: geotechnical studies $0.075m
Year 2: 1 well $1m
Year 3: engineering & geotechnical studies $0.1m
Year 4: marketing & commercial studies $0.075m
Year 5: 1 well $1m

In the Perth Basin, EP 419 expired 18/10/2011 and is not being renewed.

In the Canning Basin, Emerald Gas P/L is seeking to farm out a portion of its 100% interest in EP 463.

In the Savory Basin, re-released onshore areas L 10-4 and L 10-5 did not receive any bids.

In the Perth Basin, Norwest Energy NL is in the process of applying for the renewal of offshore exploration permit TP/15. Bharat PetroResources Ltd will not be participating in the renewal. Bharat’s 50% will revert to Westranch Holdings P/L, increasing its interest in the permit to 100%.

In the Canning Basin, Emerald Gas P/L is seeking to farm out a portion of its 100% interest in TP/24.

In the Barrow Basin, a six month suspension period has been granted to the Year 5 work program for TP/8. Year 5 has been extended from 27/10/2011 to 26/04/2012. The licence will expire on 26/04/2012.

In the Carnarvon Basin, no permits were awarded over gazettal areas W 09-17 and W 10-20.
 Areas have returned to vacant acreage.

In the Rowley Sub Basin, no permit was awarded over gazettal area W 10-6.
 Area has returned to vacant acreage.

In the Dampier Basin, no permits were awarded over gazettal areas W 10-11, W 10-12 and W 10-13.
Areas have returned to vacant acreage.

In the Barrow Basin, no permits were awarded over gazettal areas W 10-15 and W 10-17.
Areas have returned to vacant acreage.

In the Perth Basin, no permit was awarded over gazettal area W 10-26.
Area has returned to vacant acreage.

In the Carnarvon Basin, W 11-14 did not receive any bids and is pending a decision on re-release.

In the Carnarvon Basin, WA-205-P has been reduced in area due to the grant of retention lease WA-42-R. WA-205-P now covers 242 sq km.

In the Browse Basin, a twelve month suspension period has been granted to the Year 5 work program for WA-314-P. Year 5 has been extended from 11/08/2011 to 11/08/2012. The licence will expire 11/08/2013.

In the Barrow Basin, WA-320-P has been renewed to 20/10/2016. Work program is as follows –

Year 1: 400k 3D seismic reprocessing, geotechnical studies $0.7m
Year 2: 3D seismic interpretation, geotechnical studies $0.3m
Year 3: 1 well $65m
Year 4: geotechnical studies $0.2m
Year 5: geotechnical studies $0.2m

In the Browse Basin, a ten month suspension period has been granted to the Year 6 work program for WA-343-P. Year 6 has been extended from 10/09/2011 to 10/07/2012. The licence will expire on 10/07/2012.

In the Barrow Basin, WA-358-P is in the process of being renewed.

In the Carnarvon Basin, MEO Australia Ltd has advised that their participating interest in WA-360-P will increase to 62.5% following renewal of the permit. Cue Energy Resources Ltd will hold the remaining 37.5%. Rankin Trend P/L and Petrobras have provided notice to the joint venture that they intend to withdraw from the permit at the end of the current permit year. The permit is due to expire 31/01/2012.

In the Carnarvon Basin, WA-366-P has been renewed over a reduced area and now covers 2,898 sq km. Licence will expire 15/11/2016. Work program is as follows –

Year 1: G&G studies $0.1m
Year 2: 100k 3D seismic $3m
Year 3: G&G studies $0.1m
Year 4: G&G studies $0.1m
Year 5: G&G studies, exploration well $30.1m

In the Browse Basin, approval for the variation of the Year 6 work program for
WA-377-P has been granted. The Year 6 program now requires that seismic reprocessing be completed instead of one well.

In the Bonaparte Basin, WA-406-P has been cancelled by Department of Mines and Petroleum.

In the Canning Basin, Emerald Gas P/L is seeking to farm out a portion of its 100% interest in WA-419-P.

In the Carnarvon Basin, retention lease WA-41-R has been granted to Santos Offshore P/L 50%, KUFPEC Australia P/L 33.33% and Beach Energy Ltd 16.67%. Licence will expire on 02/10/2016. WA-264-P has been cancelled due to the grant of WA-41-R.

In the Bonaparte Basin, Goldsborough Energy P/L has entered into a farm-in agreement to earn a 60% participating interest in WA-422-P and has become operator of the permit. Under the terms of the agreement, Goldsborough has agreed to conduct a new 3D seismic survey and reprocess the existing 2D seismic data. The farm-in agreement is subject to the usual regulatory approvals.

In the Browse Basin, a twelve month suspension period has been granted to the Year 3 work program for WA-423-P. Year 3 has been extended from 12/11/2011 to 12/11/2012. The licence will expire on 12/11/2015.

In the Carnarvon Basin, retention lease WA-42-R has been granted to Chevron Australia P/L 33.34%, Chevron (TAPL) P/L 33.33% and Shell Development (Australia) P/L 33.33% on 05/10/2011. Licence will expire on 04/10/2016.

In the Carnarvon Basin, retention lease WA-43-R has been granted to Apache Northwest P/L on 11/10/2011. Licence will expire on 10/10/2016. WA-355-P has been cancelled due to the grant of WA-43-R.

In the Carnarvon Basin, Finder Exploration has entered into a farm-out agreement with Japan Australia LNG (MIMI). MIMI will earn 20% interest in WA-450-P through an upfront cash payment, and potentially funding of an additional work program on the permit following the drilling of the Olympus gas exploration well.

In the Bonaparte Basin, WA-459-P (formerly gazettal area W 10-1) has been granted to Santos Offshore P/L on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: geotechnical studies $0.2m
Year 2: 300k 2D seismic, 865k 2D seismic reprocessing $3.09m
Year 3: geotechnical studies $0.2m
Year 4: geotechnical studies $0.2m
Year 5: 1 well $20m
Year 6: geotechnical studies $0.2m

In the Carnarvon Basin, WA-460-P (formerly gazettal area W 10-25) has been granted to Strike Energy Ltd 33.33% (operator), Cottesloe Oil and Gas Pty Ltd 33.33% and WHL Energy Ltd 33.33% on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: geotechnical studies $0.1m
Year 2: 92k 2D seismic reprocessing $0.1m
Year 3: 25k 2D seismic, 81k 3D seismic $1m
Year 4: 1 well $60m
Year 5: geotechnical studies $0.1m
Year 6: geotechnical studies $0.1m

In the Carnarvon Basin, WA-461-P (formerly gazettal area W 10-23) has been granted to Woodside Energy Ltd 60% (Operator) and Mitsui E&P Australia P/L 40% on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: geotechnical studies, 480k 3D seismic, 520k 3D seismic reprocessing $3.76m
Year 2: geotechnical studies, 157k 2D seismic, 157k 2D seismic reprocessing $3.5m
Year 3: geotechnical studies $0.5m
Year 4: geotechnical studies, 480k 3D seismic reprocessing $0.86m
Year 5: geotechnical studies $0.5m
Year 6: geotechnical studies, 1 well $35.5m

In the Rowley Sub Basin, WA-462-P (formerly gazettal area W 10-4) has been granted to Woodside Energy Ltd 55% (Operator) and Shell Development (Australia) P/L 45% on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: 3585k 3D seismic, 1150k 2D seismic reprocessing $21.89m
Year 2: geotechnical studies $0.5m
Year 3: geotechnical studies, 1 well $35.7m
Year 4: geotechnical studies, 2000k 3D seismic reprocessing $1.9m
Year 5: geotechnical studies $0.5m
Year 6: geotechnical studies, 1 well $35.5m

In the Carnarvon Basin, WA-463-P (formerly gazettal area W 10-24) has been granted to Woodside Energy Ltd 60% (Operator) and Mitsui E&P Australia P/L 40% on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: geotechnical studies, 283k 3D seismic, 217k 3D seismic reprocessing $2.25m
Year 2: geotechnical studies, 104k 2D seismic $2.6m
Year 3: geotechnical studies $0.5m
Year 4: 283k 3D seismic reprocessing $0.71m
Year 5: geotechnical studies $0.5m
Year 6: geotechnical studies, 1 well $35.5m

In the Rowley Sub Basin, WA-464-P (formerly gazettal area W 10-5) has been granted to Woodside Energy Ltd 55% (Operator) and Shell Development (Australia) P/L 45% on 08/11/2011. Licence will expire 07/11/2017.  Work program is as follows –

Year 1: 3595k 3D seismic $22m
Year 2: geotechnical studies, 1 well $35.5m
Year 3: geotechnical studies, 3 wells $105.7m
Year 4: 2000k 3D seismic reprocessing $1.9m
Year 5: geotechnical studies $0.5m
Year 6: geotechnical studies, 1 well $35.5m

In the Carnarvon Basin, WA-465-P (formerly gazettal area W 10-8) has been granted to Woodside Energy Ltd on 08/11/2011. Licence will expire 07/11/2017.  Work program is as follows –

Year 1: geotechnical studies $0.5m
Year 2: geotechnical studies, 1211k 3D seismic $7.97m
Year 3: geotechnical studies $0.5m
Year 4: geotechnical studies $0.5m
Year 5: geotechnical studies, 1 well $35.5m
Year 6: geotechnical studies $0.5m

In the Rowley Sub Basin, WA-466-P (formerly gazettal area W 10-3) has been granted to Woodside Energy Ltd 55% (Operator) and Shell Development (Australia) P/L 45% on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: geotechnical studies, 3595k 3D seismic, 1500k 2D seismic reprocessing $21.95m
Year 2: 1 well, technical studies $35.5m
Year 3: 2 wells, technical studies $70.7m
Year 4: technical studies, 2000k 3D seismic reprocessing $1.9m
Year 5: technical studies $0.5m
Year 6: technical studies, 1 well $35.5m

In the Carnarvon Basin, WA-467-P (formerly gazettal area W 10-9) has been granted to Woodside Energy Ltd on 08/11/2011. Licence will expire 07/11/2017. Work program is as follows –

Year 1: geotechnical studies $05m
Year 2: geotechnical studies, 351k 3D seismic $2.8m
Year 3: geotechnical studies $0.5m
Year 4: geotechnical studies $0.5m
Year 5: geotechnical studies, 1 well $35.5m
Year 6: geotechnical studies $0.5m

In the Carnarvon Basin, production licence WA-46-L was granted to Chevron Australia P/L 50% and Chevron (TAPL) P/L 50%. Licence granted for an indefinite term. WA-17-R has been cancelled due to the grant of WA-46-L.

In the Carnarvon Basin, production licence WA-47-L was granted to Chevron Australia P/L 50% and Chevron (TAPL) P/L 50%. Licence granted for an indefinite term. WA-39-R has been cancelled due to the grant of WA-47-L.

In the Carnarvon Basin, production licence WA-48-L was granted to Chevron Australia P/L 42.857%, Shell Development (Australia) P/L 33.333% and Chevron (TAPL) P/L 23.810%. Licence granted for an indefinite term. WA-16-R has been cancelled due to the grant of WA-48-L.

In the Dampier Basin, WA-9-L is in the process of being renewed.


Geothermal Permits

In the Yilgarn Basin, GEP 12 is being relinquished. Surrender lodged 09/09/2011.

In the Perth Basin, a twelve month suspension has been granted to the Year 1 work program for GEP 5 and GEP 6. Year 1 has been extended from 29/07/2012 to 29/07/2013. The licences will expire on 29/07/2018
.


New Zealand

In the Otago Basin, PEP 38219 has been renewed to 22/08/2014. Work program is as follows -

12 months: studies
29 months: 3 core holes for coal sampling
30 months: studies
36 months: studies
52 months: studies
60 months: studies
72 months: studies
89 months: studies
108 months: studies
129 months: 1 well
135 months: 1 well & testing
156 months: studies

In the Canterbury Basin, PEP 38264 is being renewed.

In the Taranaki Basin, PEP 38451 has been renewed for a second 5 year term over a reduced area to 30/09/2016. The licence now covers 16,375 sq km. Work program is as follows –

30 months: 250k 2D seismic reprocessing, remote sensing study
33 months
: 3100k 2D seismic
54 months
: studies, 1150k 2D seismic
60 months
: 1500k 2D seismic reprocessing, studies
72 months
: 1800k 3D seismic, studies
84 months
: 1 well
96 months
: 1000k 2D seismic, studies
108 months
: drilling report
120 months
: 1 well

In the Great South Basin, Shell has farmed into PEP 50119 and PEP 50120. Shell is earning a 50% interest in each permit with OMV New Zealand Ltd’s interest reducing to 18%, PTTEP New Zealand Ltd reducing to 18% and Mitsui E&P Australia P/L to 14%. OMV will remain operator of the permits until the end of the seismic acquisition program early next year. Shell will then become operator of both permits.

In the Northland Basin, PEP 51339 was relinquished on 14/11/2011.

In the Taranaki Basin, PEP 52200 was relinquished on 14/11/2011
.


Papua New Guinea

In the Papuan Basin, Esso PNG Exploration has an option to acquire Eaglewood's remaining 10% in PPL 260 for US$3.5m subject to a waiver and option previously granted on the licence.  The previously granted option is not expected to expire until third quarter 2012.

In the Papuan Basin, PPL 268 and PPL 269 have been renewed to 13/08/2016 over reduced areas of 2,115 sq km and 4,367 sq km respectively.

Also in the Papuan Basin, PRL 3 has been renewed to 11/04/2015.

In the Papuan Basin, PRL 4 has had its expiry date extended to 31/08/2012.

Also in the Papuan Basin, Talisman Energy Niugini has reached agreement to acquire 5% of PRL 21 from Kina Petroleum Ltd.


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© 2011 Pitney Bowes Business Insight