November 2016 GPinfo Update


Data Update

 

The November 2016 data update is now available …

 

This month we have amended various permit names to comply with the naming conventions used by statutory authorities. This mainly involved the removal of spurious spaces from some permit names …

 

Industry Summary

 

AWE Ltd, operator of the Waitsia natural gas field project, has released an independent report that certifies the 2P reserves are sufficient to supply 100 TJ/d of gas for up to 10 years

 

Beach Energy Ltd is pleased to advise that the Kangaroo 1 exploration well has intersected a 20m gross oil column in the Birkhead Formation. A drill stem test over the Birkhead Formation recovered 41.6 bbls

 

Permit Updates and Changes

 

Comet Ridge will move to finalise the completion of the transaction to acquire 100% of ATP 1015 Lake Galilee FI following the approval of a later work program for the licence …

 

Buru Energy has executed a native title agreement covering land within EP 371 in the vicinity of Noonkanbah Pastoral Station. The agreement is in the form of a Land Access and Use Agreement


 

The November 2016 GPinfo data update is now available.
 



Permit Naming Conventions


This month we have amended various permit names to comply with the naming conventions used by statutory authorities. This mainly involved the removal of spurious spaces from some permit names e.g. W 16-21 is now W16-21, VIC/L 7 is now VIC/L7.

Please note that this will have an impact on queries where any of the changed permits are explicitly named. Edit your queries that use permit names to reselect with the new names.
 



Help Sheets


New help sheet Georeference an image has been added to the list of help sheets available on the Details window home page. The full list of helps sheets is –

Georeference an image
Graticular block numbers
Using company groups
New acreage calculations
Displaying deviated wells
Setting up a shared project

If you would like us to add a topic, please contact GPinfo support.

 

Industry Summary                                       

 

Company News

 

Fitzroy River Corporation Ltd has announced an on-market takeover offer to acquire through Taylor Collison Ltd all of the shares in Royalco Resources Ltd at 18 cents per share. Royalco Resources announced its target statement on 28/10/2016, which included the board’s recommendation that shareholders reject the offer by doing nothing until the offer period is final. At that time, an assessment can be made regarding whether or not to accept the offer. The offer will remain open until 05/12/2016 and may be extended. (Source: Royalco Resources announcement, 19/10/2016).

 

Carnarvon Petroleum Ltd has released the first prospective resources for the Phoenix South and Roc area in Western Australia’s offshore Bedout Sub-basin, which are not only sufficient to underpin a commercial development but can be a solid foundation for future growth. Carnarvon's initial estimate for discovered gross 2C contingent resources are 109 million bbls of oil gross equivalent across the play opening discoveries at Roc, Phoenix and Phoenix South in WA-435-P and WA-437-P where Carnarvon owns 20% alongside operator Quadrant Energy 80%. Existing 2C resources are for 332 bcf of gas, 20 million bbls of condensate and 31 million bbls of light oil, equivalent in the Barret sands, Phoenix South 2 well is targeting 470 bcf of gas and 25 mmbbls of condensate in the Caley Sandstone, or 107 mmboe, and there is even further upside in the deeper Milne Sandstone that remains to be tested. The joint venture has looked at the past drilling, core and seismic around the Roc, Phoenix and Phoenix South discoveries to calculate its volumetrics, and believes there is 1.5 tcf of gas and 207 mmbbl in gross mean unrisked prospective resources in Caley and Barret formations alone. (Source: Carnarvon Petroleum announcement, 14/11/2016, Energy News Premium, 14/11/2016).

 

Cooper Energy has signed a binding gas sales agreement with Alinta Energy for the supply of gas from the Sole gas field of up to 2 PJ per annum for a minimum of 5 years with provision for a 3-year extension, subject to parties’ agreement. The agreement is conditional upon certain conditions precedent, including an affirmative final investment decision for Sole. Supply contract is planned to commence in 2019. Cooper Energy has now contracted 9.6 PJ of its 12.5 PJ share of the first eight years’ production anticipated from the field. (Source: Cooper Energy announcement, 20/10/2016).

 

Geodynamics Ltd will rebrand itself as ReNu Energy, to reflect its shift from geothermal to an innovative diversified provider of clean energy products and services. The company will also be expanding its offering to the agribusiness sector to include solar PV, battery storage and hybrid energy solutions, alongside its existing biogas and anaerobic digestion business. The Company will be seeking shareholder approval for the rebranding at its upcoming annual general meeting. (Source: Geodynamics announcement, 20/10/2016).

 

Greenearth Energy Ltd is rebranding itself as Vivid Technology Ltd to better reflect the company’s principal activities. The change of company name is subject to shareholder approval at the company’s upcoming annual general meeting in late November. (Source: Greenearth Energy announcement, 24/10/2016).

 

Lakes Oil has filed an application in the Supreme Court of Victoria seeking a judicial review of the state government’s decision to shut the gate on Lakes’ long-held permits in the Gippsland and Otway basins. Lakes said Minister for Resources Wade Noonan’s decision to pre-emptively refuse to consider or accept any application for approval to conduct petroleum exploration operations onshore in Victoria, and his decision to refuse Lakes’ specific applications for approval to conduct exploration – either at the Wombat tight gas field or the Portland Energy Project near Port Campbell – could not be allowed to remain unchallenged. Lakes was seeking a ruling that Noonan has not complied with the law, in particular the Petroleum Act 1998 (Victoria). (Source: Energy News Premium, 28/10/2016).

 

MEO Australia Ltd advises that shareholders have approved the relaunch of the company as Melbana Energy Ltd and the concurrent change in its ASX ticker to MAY. Melbana Energy Ltd commenced trading under the new ASX ticker MAY on 08/11/2016. (Source: MEO Australia announcement, 03/11/2016).

 

ExxonMobil’s acquisition of InterOil has been put on hold after a Canadian court revived an objection to the deal. InterOil advised, the Court of Appeal of Yukon overturned the Supreme Court of Yukon’s approval of the pending transaction after upholding an appeal lodged against the deal. The appeal was lodged by InterOil’s second largest shareholder and former InterOil CEO Phil Mulacek, saying the terms of the deal were not properly remunerating shareholders. Both ExxonMobil and InterOil are now considering the ramifications of the successful appeal and are exploring alternate paths to complete that transaction. InterOil is in discussions with ExxonMobil with respect to extending the deal’s outside date. The transaction was initially expected to close in September 2016. (Source: Petro Global News, 07/11/2016, Energy News Premium, 07/11/2016).

 

Pilot Energy Ltd is pleased to announce that RISC has confirmed a dramatic increase in prospective resources for the Leschenault prospect, located in exploration permits EP 416 and EP 480. RISC’s report confirms that the Lesueur Sandstone could host prospective resources of 150-970 bcf while the Sue Sandstone could host 120-625 bcf. In terms of best unrisked prospective resources that would be 1.6 tcf. (Source: Pilot Energy announcement, 07/11/2016).

 

WHL Energy Ltd has made an off-market takeover bid to acquire 100% of Quantify Technology Ltd.   WHL is offering 1.0189 WHL shares and 0.4891 WHL performance shares for every 1 Quantify ordinary share and 1.0238 WHL bid options for every 1 Quantify ordinary option. The offer is open until 31/01/2017, unless extended or withdrawn. Upon completion, WHL Energy will be renamed Quantify Technology Holdings Ltd. (Source: WHL Energy announcement, 08/11/2016).

 

Squadron Energy, a wholly owned subsidiary of Minderoo Group, and Goshawk Energy (as operator) have entered a joint venture seeking to undertake petroleum exploration and development activities across an area of more than 220,000 sq km of the Canning Basin, in Western Australia. The Squadron-Goshawk joint venture (80:20) has submitted several applications for onshore Special Prospecting Authorities with Acreage Options. A map showing the areas under the SPA-AO has not been released. However, data from the DMP appears to show that seven SPA-AO and seven survey applications over the Goldwyer, Kidston and Central Canning areas, and a magneto-telluric survey have been knocked back in recent days. While the applications are confidential until granted, Squadron Energy and Goshawk Energy have been applying for licences in the region in recent weeks, so they are likely to be the rebuffed parties. While seven have been refused, several SPA-AOs and survey applications are still being assessed. (Source: Minderoo announcement, 01/11/2016, Energy News Premium 08/11/2016).

 

Central Petroleum Ltd has received an unsolicited, indicative and non-binding proposal from Macquarie Group Ltd to acquire 100% of the issued capital of Central by way of a scheme of arrangement at 7.5 cents per share. The proposal is subject to various conditions including due diligence and entry by the parties into definitive transaction documents. The board of directors at Central has determined that the proposal is not in the best interests of the shareholders. (Source: Central Petroleum announcement, 14/11/2016).

 


 

Developments

 

Woodside Petroleum has completed a key offshore component for the Wheatstone LNG Project ahead of schedule. Woodside says the construction and commissioning work for the Julimar development, part of the Wheatstone LNG Project, is now complete. The Wheatstone LNG storage tank one is ready for cool down and all Train 2 modules are on-site. First LNG from Train 1 is expected in mid-2017, with first LNG from Train 2 expected six to eight months later. (Source: Energy News Premium, 20/10/2016).

 

Chevron Corp has encountered a $5 billion cost blow-out with its Wheatstone LNG Project in Western Australia. The company said the project would now cost close to $34 billion to complete, up $5 billion, or around 17% on the initial $29 billion estimate. Chevron cited the overheated construction market at the time work commenced on the project for part of the cost increase. Additionally, there have been difficulties in having key components of equipment built offshore. There has been late module delivery due to poor performance at one of the fabricating yards where the contractor proved unable to effectively manage the size and the scale of the work scope. Chevron also admitted that it had failed to estimate the quantity of materials needed for the project, in part brought about by taking the decision to proceed when only 15% of the engineering work had been completed. (Source: Oil & Gas Journal, 31/10/2016).

 

Origin Energy’s Australia Pacific LNG Project has passed a critical milestone, the project financing test, which unlocks more than $5 billion of shareholder guarantees relating to the project finance facility. Origin announced that US$5.1 billion, around 60%, of the facility has been released after the project’s first production train successfully satisfied lenders’ tests. As a 37.5% shareholder in Australia Pacific LNG, the amount of the project finance facility guaranteed by Origin has reduced by $1.9 billion to $1.3 billion. The release of the remaining $3.4 billion in project finance guarantees for Australia Pacific LNG will occur following completion of lenders’ tests for the project’s second production train, which is expected to take place during 2017. (Source: Origin Energy announcement, 31/10/2016).

 

The Northern Territory's chief minister Michael Gunner has signed a lease extension with the $37 billion Inpex Ichthys LNG Project while on tour in Japan. Michael Gunner met with Inpex chief executive Toshiaki Kitamura to sign two agreements that will support future jobs and economic growth in the Territory as the construction phase winds down; the Recognition of and Recruitment to Industry Participation agreement and the Optional Development Lease agreement. It reaffirmed the company's commitment to provide local employment during the 40-year project. The government extended the option on the lease on land surrounding the Ichthys project for 15 years, giving Inpex the opportunity to expand its processing capacity going forward. (Source: Energy News Bulletin, 01/11/2016).

 

The Ichthys LNG Project has three key milestones left after the offshore and onshore sections of its 890 km gas export pipeline were safely welded together in Darwin today. Project operator Inpex confirmed to Energy News that the upcoming milestones for Ichthys are; completing key elements of the subsea installation; continuing central processing facility and floating production storage and offloading facility pre-commissioning and commissioning; and completing construction and testing of onshore plant packages. Ichthys, which project partner Total says is essentially three mega-projects rolled into one, is slated to start in the third quarter of next year after Inpex announced in September 2015 that the project start-up would be delayed by about nine months. (Source: Energy News Bulletin, 09/11/2016).


 

Discoveries

 

Quadrant Energy has confirmed a successful well test from the Roc 2 well in the Bedout Basin, offshore Western Australia. Roc 2 flow tested at a maximum rate of 51.2 mmcfd of gas and 2,943 b/d of condensate. The well flowed at the maximum rate possible with the equipment used. The drillstem test was undertaken over 5 days. Drawdown for the high flow rate was about 500 psi, which indicates good productivity. Interpreted permeability of the reservoir is about 130 millidarcy across the perforated interval. The test exceeded the company’s expectations, raising hopes that the well can be turned into a commercial producer. The report added that using standard equipment for North West Shelf developments, Roc 2 would be capable of producing more than 100 mmcfd of gas, equivalent to about 10% of Western Australia’s entire domestic demand, from a single well. (Source: Carnarvon Petroleum announcement, 19/10/2016).

 

Beach Energy is pleased to advise of a western flank oil discovery within the Poolowanna Formation. September 1 targeted oil in a structural closure within the Namur Sandstone and tested the McKinlay Member, Birkhead Formation and Poolowanna Formation as secondary targets. The well intersected an 8 m thick gross interval with oil shows within the Poolowanna formation. A drill stem test was undertaken over the interval 1,927.8 m to 1,936.0 m and recovered 15.2 bbls of 42-degree API oil from the drill string over a 1.5-hour flow period. The well has been cased and suspended as a future oil producer. (Source: Beach Energy announcement, 01/11/2016).

 Permit Changes                                                                

 

New South Wales

 

New England Fold Belt

Production licence applications PPLA 11 and PPLA 12 have been withdrawn.

Northern Territory

 

Bonaparte Basin

A change to the NT/P85 work program has been approved –

Years 1-3: geotechnical studies, 3D seismic acquisition planning, 1609 km 2D seismic reprocessing, 1600 sq km 3D seismic, G&G studies $29.26m
Year 4: G&G studies $0.5m
Year 5: 1 well $35m
Year 6: G&G studies $0.5m

Browse Basin

AC/RL8 is being relinquished.

Vulcan Sub Basin

AC/RL7 has been renewed to 11/12/2021. Work program is as follows –

Years 1-4: review subsurface work of Cash-Maple field, refine volumetric resource assessment, technical, commercial and feasibility studies, revisit FLNG development study, marketing studies $11.15
Year 5: subsurface, engineering & commercial studies report

Queensland

 

Bowen Basin

ATP 758 has had its licence term statutorily extended by 2 years from 31/10/2016 to 31/10/2018.

 

Gazettal area PLR2016/17-1-1 (tender code PLR2016/17-1A) opened on 11/11/2016.  Applications close on 20/04/2017.  For more information visit www.dnrm.qld.gov.au/resources-tenders.

Cooper Basin

PL 68 is in the process of being renewed.

 

Bridgeport (Cooper Basin)'s acquisition of 93.90% of PL 256 from Beach was finalised on 19/10/2016.

Eromanga Basin

Bridgeport (Cooper Basin)'s acquisition from Beach of 93.21% of ATP 269 (and associated production licences PL 482, PL 483 and PL 484) was finalised on 19/10/2016.

 

Eastern Gas Holdings P/L has signed a Memorandum of Understanding with Coalbank Ltd with regards to the permits held by Surat Gas P/L, a wholly-owned subsidiary of Coalbank. Eastern Gas Holdings has the right to earn 50% in ATP 1072, ATP 1095 and ATP 1098 by spending no less than $30,000 over 3 months following execution. Surat Gas will have a free carry on all capital and operational expenditure up to $650,000. Eastern Gas Holdings will be appointed joint venture operator.

 

Bridgeport (Cooper Basin)'s acquisition from Beach of 100% of PL 31, PL 32 and PL 47 was finalised on 19/10/2016.

Galilee Basin

ATP 529 is being renewed as ATP 2019.

 

Comet Ridge will move to finalise the completion of the transaction to acquire 100% of ATP 1015 Lake Galilee FI following the approval of a later work program for the licence.

Mt Isa Block

Geothermal exploration permit EPG 111 still covers the same number of blocks, however, there has been an alteration to the block numbers in the licence.  There is no change to the area in square kilometres.

Surat Basin

Gazettal area PLR2016/17-1-2 (tender code PLR2016/17-1B) opened on 11/11/2016.  Applications close on 20/04/2017.  For more information visit www.dnrm.qld.gov.au/resources-tenders.

 

ATP 626 will be relinquished following the completion of the rehabilitation program of the remaining well sites, and submission of reports and documentation. The licence is expected to be relinquished in the first half of 2017.

 

QGC P/L has taken over operatorship of ATP 647 Myall Creek East FO block.

 

Eastern Gas Holdings P/L has signed a Memorandum of Understanding with Coalbank Ltd with regards to the permits held by Surat Gas P/L, a wholly-owned subsidiary of Coalbank.  Eastern Gas Holdings has the right to earn 50% in ATP 1072, ATP 1095 and ATP 1098 by spending no less than $30,000 over 3 months following execution. Surat Gas will have a free carry on all capital and operational expenditure up to $650,000. Eastern Gas Holdings will be appointed joint venture operator.

 

Cypress Petroleum P/L, a wholly owned subsidiary of TAG Oil Ltd, has reached a definitive asset purchase agreement to acquire100% (subject to underlying royalties) in PL 17 from Southern Cross Petroleum & Exploration P/L for A$2.5 million. This is payable as follows:  A$0.75m (less A$40,000 non-refundable deposit already paid) payable in cash on the closing date, A$0.5m payable in cash on 20/07/2017, A$0.5m payable at the sole discretion of Cypress in cash or satisfied by shares of TAG on the second anniversary of the closing period and A$0.75m payable at the sole discretion of Cypress, in cash or satisfied by shares in TAG on the third anniversary of the closing date.  The deal is subject to certain conditions including government approvals.

Surat Bowen Basin

The GLNG joint venture (Santos CSG 30%, PAPL (Upstream) P/L 27.5%, Total E&P Australia 20%, KGLNG E&P P/L 15% & Total E&P Australia II 7.5%) have applied for production licence PL 1021 over the Maisey farmout area of ATP 889.  The application covers 77 sq km.

South Australia

 

Arrowie Basin

Geothermal licence GEL 156 is being relinquished.

 

Geothermal licence GEL 181 has been suspended from 01/08/2016 to 31/07/2017. The licence has had its expiry date extended to 21/11/2018.

Cooper Basin

The PEL 96 joint venture will shortly apply for a retention licence to upgrade the Phase One Area, a 200 sq km area surrounding the Klebb and Le Chiffre test well locations.

Eromanga Basin

PEL 71 has been suspended from 26/09/2016 to 25/03/2017. The licence has had its expiry date extended to 05/05/2020.

Officer Basin

PEL 81 has been suspended from 01/10/2016 to 31/03/2017. The licence has had its expiry date extended to 24/06/2018.

Tasmania

 

Tasmania Basin

J.A. & J.R. Bishop 100% have applied for geothermal licence EL15/2016.

Victoria

 

Gippsland Basin

A variation for VIC/P57 was lodged with NOPTA on 26/10/2016.

 

A suspension and extension for VIC/P68 was lodged with NOPTA on 24/10/2016.

 

A renewal has been offered on VIC/L19.

 

Cooper Energy has entered a binding agreement to acquire Santos’ Victorian gas assets for $62 million cash plus $20 million cash on the earlier of the Sole Gas Project FID or the receipt of cash consideration for any sell-down by Cooper Energy of an interest in any of the Victorian gas assets. These include 50% of VIC/L24 (Casino) and VIC/L30 (Henry), 10% of VIC/L22 (Minerva) and the Minerva Gas Plant, the remaining 50% of VIC/RL3 (Sole) and the Orbost Gas Plant, 100% of VIC/L21 (the largely depleted Patricia Baleen gas field and associated infrastructure), 50% VIC/P44, 50% of VIC/RL11 (Martha) and 50% of VIC/RL12 (Blackwatch). The transaction is subject to joint venture partner approval and waiver of pre-emptive rights.  It is effective as at 01/01/2017 and is expected to be complete in early 2017.

 

VIC/RL4 is in the process of being renewed.

Otway Basin

Austral Exploration P/L has signed a conditional sale and purchase deed with WHL Energy Ltd for the acquisition of 100% of VIC/P57. The deal is subject to WHL obtaining shareholder approval (by 31/03/2017), relevant authority approvals including approval and registration of the sale and purchase deed, the associated transfer of title and approval of a suspension and extension application. As consideration for the sale, a 1% royalty of the sales gas revenue to a maximum of A$7.5 million will be granted to WHL.

 

Cooper Energy has entered a binding agreement to acquire Santos’ Victorian gas assets for $62 million cash plus $20 million cash on the earlier of the Sole Gas Project FID or the receipt of cash consideration for any sell-down by Cooper Energy of an interest in any of the Victorian gas assets.    These include 50% of VIC/L24 (Casino) and VIC/L30 (Henry), 10% of VIC/L22 (Minerva) and the Minerva Gas Plant, the remaining 50% of VIC/RL3 (Sole) and the Orbost Gas Plant, 100% of VIC/L21 (the largely depleted Patricia Baleen gas field and associated infrastructure), 50% VIC/P44, 50% of VIC/RL11 (Martha) and 50% of VIC/RL12 (Blackwatch). The transaction is subject to joint venture partner approval and waiver of pre-emptive rights.  It is effective as at 01/01/2017 and is expected to be complete in early 2017.

Western Australia

 

Barrow Sub Basin

WA-43-R has been renewed to 02/11/2021. Work program is as follows –

Year 1: 70.5 sq km 3D seismic reprocessing, subsurface, engineering & economic studies $0.43m
Year 2: remapping of reprocessed 3D data, subsurface, engineering & economic studies $0.45m
Year 3: inversion & QI studies, subsurface, engineering & economic studies $0.4m
Year 4: subsurface, engineering & economic studies $0.2m
Year 5: subsurface, engineering & economic studies $0.2m

 

A suspension and extension for WA-486-P was lodged with NOPTA on 03/11/2016.

Browse Basin

WA-315-P and WA-398-P are being renewed.

Canning Basin

Buru Energy has executed a native title agreement covering land within EP 371 in the vicinity of Noonkanbah Pastoral Station. The agreement is in the form of a Land Access and Use Agreement with the Warlangurru People.  It is regarded as a significant step forward for further appraisal and development of the potentially world class tight wet gas accumulation.

 

EP 438, EP 471, EP 472, EP 473, EP 477 and EP 478 were relinquished on 01/11/2016.

 

New Standard is not anticipating renewal of EP 451 or EP 456.

 

Rey Resources has issued a buy-out notice to Oil Basins for Rey to acquire the 50% interest in EP 487 owned by Oil Basins, as the cash calls made by Rey to Oil Basins remain unpaid. Oil Basins disputes the validity of the buy-out notice.

 

R 1 has been renewed to 10/10/2021. Work program is as follows –

Year 1: commercial studies, 250 sq km aero magnetic survey, environmental survey $0.5m
Year 2: 200 sq km geochemical studies, engineering & geotechnical studies $0.2m
Year 3: reservoir studies $0.2m
Year 4: G&G, seismic reprocessing $0.2m
Year 5: commercial studies $0.125m

 

Applications STP-EPA-0006, STP-EPA-0007, STP-EPA-0010 and STP-EPA-0092 have been withdrawn.

Carnarvon Basin

EP 412 was relinquished on 18/10/2016.

 

Mitra Energy Inc. is pleased to announce that Jadestone Energy (Australia) P/L, a wholly owned subsidiary of Mitra, has closed the acquisition of the Stag Oilfield WA-15-L.

 

Following approval and registration, Woodside Energy Ltd will acquire a 25% working interest in WA-1-R from BHP Billiton Petroleum.

 

WA-335-P was relinquished on 31/10/2016.

 

WA-35-R is being renewed.

 

WA-364-P has been renewed to 02/11/2021 over a reduced area of 1615 sq km. Work program is as follows -

Years 1-3: G&G studies, 1000 sq km 3D seismic reprocessing $1.15m
Year 4: G&G studies $0.2m
Year 5: 1 well $30m

 

WA-365-P has been renewed to 02/11/2021 over a reduced area of 1620 sq km. Work program is as follows -

Years 1-3: G&G studies, 300 sq km 3D seismic reprocessing $0.9m
Year 4: G&G studies $0.2m
Year 5: 1 well $30m

 

WA-367-P has been renewed to 02/11/2021 over a reduced area of 1606 sq km. Work program is as follows -

Years 1-3: G&G studies, 1000 sq km 3D seismic reprocessing $1.15m
Year 4: G&G studies $0.2m
Year 5: 1 well $30m

 

The Blake Location initial application over WA-383-P was lodged with NOPTA on 11/10/2016.

 

WA-409-P has been renewed to 12/10/2021 over a reduced area of 325 sq km. Work program is as follows -

Years 1-3: 325 sq km 3D seismic reprocessing, geotechnical studies, well planning $2m
Year 4: 1 well $50m
Year 5: geotechnical studies $0.25m

 

A suspension and extension for WA-412-P was lodged with NOPTA on 29/09/2016.

 

W15-14 was granted as WA-525-P to BP Developments Australia P/L on 03/11/2016. The licence will expire on 02/11/2022. Work program is as follows –

Years 1-3: licence 473 sq km 3D seismic, 2300 sq km 3D seismic reprocessing $10m
Year 4: well planning $4m
Year 5: 1 well $85m
Year 6: well data analysis $4m

 

Following approval and registration, Woodside Energy Ltd will acquire 50% working interest in each of WA-61-R, WA-62-R and WA-63-R from BHP Billiton Petroleum (NorthWest Shelf) P/L.

Perth Basin

EP 320 has been renewed to 19/10/2021.

 

EP 381 expired on 06/11/2016. The area reverts to vacant acreage.

 

EP 416 has been renewed to 13/10/2021 over a reduced area of 622 sq km. Work program is as follows –

Year 1: 100 sq km geochemical studies, geophysical processing, G&G studies $0.35m
Year 2: G&G studies $0.2m
Year 3: G&G studies $0.4m
Year 5: 1 well $5
Year 5: G&G studies $0.2m

 

UIL Energy Ltd has finalised the farmin agreement with Bombora Natural Energy P/L for Bombora to earn a 70% working interest and the right to operate in four graticular blocks, the Walyering project, of EP 447. Under the agreement, Bombora will fund and complete 100% of the cost of preparing, acquisition, processing and interpretation of the farmin 3D seismic survey.

 

EP 492 is being relinquished.

 

TP/26 was cancelled on 20/10/2016. The area reverts to vacant acreage.

 

NOPTA has approved the transfer of 40% working interest in WA-481-P to Key Petroleum Offshore P/L.

Petrel Sub Basin

WA-40-R has been renewed to 01/11/2021. Work program is as follows –

Years 1-5: production & modelling studies, facilities studies, commercial studies $0.1m

 

A suspension and extension for WA-488-P was lodged with NOPTA on 13/10/2016.

New Zealand

 

East Coast Basin

PEP 38349 expired on 07/11/2016. The area reverts to vacant acreage.

Reinga Basin

PEP 55781 and PEP 57057 were relinquished on 01/11/2016.

Taranaki Basin

An extension of land has been granted for PEP 51152. The licence now covers an increased area of 68 sq km.

 

A change to the PEP 55768 work program has been approved –

12 months: 330 km 2D seismic reprocessing
24 months: seismic studies
35 months: seismic studies
47 months: 1 well
54 months: 60 sq km 3D seismic or 1 well
78 months: 1 well if not already drilled
120 months: 1 well

 

An extension of land has been granted for sequestration licence PMP 52278. The licence now covers an increased area of 10.5 sq km.

Papua New Guinea

 

Cape Vogel Basin

PPL 560 has been granted to Dondonald Ltd 100%. Grant and expiry dates have yet to be verified.  Dondonald Ltd is held 60% by Rawson Resources Ltd, 7% by Moira and 33% by PNG investors.

North New Guinea Basin

Dondonald Ltd holds 100% of PPL 391, PPL 549 and application APPL 594. The area for APPL 594 is yet to be verified.

 

Dondonald Ltd holds 100% of APPL 550.

 

                                                                                                                                   

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