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September 2014


Industry Summary

Metgasco has confirmed that it has been in discussions with the New South Wales Government to seek an out-of-court settlement over the suspension of its Rosella well ...

Permit Updates and Changes

In the Sydney, Gunnedah and Surat Basins, applications for PELA 158, PELA 159 and PELA 160 have been refused and these areas now revert to vacant acreage ...
 

Industry Summary

Company News
 

Metgasco has confirmed that it has been in discussions with the New South Wales Government to seek an out-of-court settlement over the suspension of its Rosella well. The company said the discussions are confidential and without prejudice. Metgasco continues to argue that the government’s suspension decision was unlawful and unjustified and has severely damaged its interests. Court action is currently underway to have the suspension decision lifted. (Source: Metgasco announcement, 25/08/2014).

The deed of arrangement between Nexus Energy and Seven Group Holdings executed on 22/08/2014 is now waiting on the satisfaction of three conditions before it can be put into effect. The administrators of Nexus are waiting on the approval of an application sent to the Australian Securities and Investments Commission, while a valuation report is being prepared for Court approval. Discussions are also continuing between Seven Group Holdings and Sedco to come to settlement terms under the deed of company arrangement. (Source: McGrathNicol announcement, 27/08/2014).

The directors of Ambassador Oil & Gas Ltd have accepted the unconditional takeover offer by Drillsearch Energy Ltd in respect of the shares they own or control, representing approximately 8.8% ahead of the closing of the offer on 27/08/2014. Following acceptances, Drillsearch’s offer been further extended to 22/09/2014. Magnum Hunter Resources takeover bid expired 05/09/2014. Once Drillsearch reaches over 90% it will move to compulsory acquisition of the remaining shares. (Source: Ambassador Oil & Gas announcement, 26/08/2014 & 27/08/2014, Drillsearch Energy announcement, 15/09/2014).

Dart Energy shareholders have approved the scheme of arrangement under which IGas Energy has proposed to take over the company. Shareholders voted both in person at the meeting and by proxy to give 80.46% in favour of the scheme resolution, beating the required 50% for approval. The total number of Dart shares cast in favour of the resolution came to 93.21%, greater than the required 75%. (Source: Dart Energy announcement, 10/09/2014).

The board of Roc Oil has unanimously recommended and accepted the $474 million all-cash takeover offer for the company by Fosun International for 69c per Roc share. There are no Chinese regulatory approvals or financing conditions associated with the offer, the main condition of the bid is a minimum 50% acceptance condition. Roc said that the offer represented a premium to the levels at which Roc shares were trading before it announced the Horizon merger in April. (Source: Roc Oil Company announcement, 11/09/2014).

Neon Energy has received an unsolicited proportional takeover bid from Evoworld Corporation for 30% of the ordinary shares in Neon Energy at 3.5c per share that Evoworld does not already own. The bid would take Evoworld’s stake up to 38% and effectively give it control of Neon without it owning a majority of the shares on issue. The proportional takeover bid will not be open to shareholders until Neon receives a bidder’s statement form Evoworld, at which point it will require shareholder’s approval to proceed. (Source: Neon Energy announcement, 20/09/2014).

Developments

Downer EDI has won a works contract valued at up to $170 million for the Chevron-operated Gorgon LNG Project. The contract is expected to create 400 jobs over a variety of construction trade fields with most of them based on Barrow Island. While the contract is initially for 12 months, there are options to extend it. Downer said the scope of the work may include structural and piping erection, mechanical installations, electrical and instrumentation services, civil works, pre-commissioning works and commissioning and start-up assistance. The Gorgon Project is targeting first LNG production in mid-2015. (Source: Energy News Premium, 03/09/2014).

The Clough-AMEC joint venture has won the $70 million front-end engineering and design contract for Arrow Energy’s Bowen CSG Project in Queensland. Clough said the contract included an engineering, procurement and contracts award for the early works. The front-end work is scheduled to start on 06/10/2014 and last one year. The first stage is expected to involve the initial development of up to four development areas coming online in 2017, with up to approximately 600 production wells likely to be drilled in the first two years. While it is also targeting domestic markets, the Bowen Project is one of the CSG projects linked to its $20 billion Arrow LNG Project on Queensland’s Curtis Island. (Source: Energy News Premium, 09/09/2014).

WHL Energy has raised the possibility of a stand-alone gas development in its Otway basin acreage offshore Victoria. The company is basing its possible decision on early interpretation of the recent La Bella 3D seismic survey in permit VIC/P 67. The report suggests a total of 14 prospects with total potential resources of 1,044 bcf of gas and 32 million bbl of condensate and LPGs. A group of four prospects have been mapped on the Ferrier Terrace immediately west of La Bella gas field in WHL’s acreage. They have been named as Mylius, Mylius West, Ferrier, and Ferrier South. In conjunction with La Bella itself, WHL said, these prospects could form a core gas development in VIC/P 67. WHL is keen to prioritise and mature two of the new prospects for drilling in 2015. (Source: Oil & Gas Journal, 09/09/2014).

The WA government has released a list of projects identified as being at risk of having invalid environmental approvals, with Woodside’s Pluto LNG proposal and the Macedon Gas development among them. The legislation was introduced into the WA Parliament after a review found a number of Environmental Protection Authority approvals granted between 2002 and 2012 were at risk of being found to be invalid due to technical governance issues. The decision was made after the Supreme Court ruled last year that the WA environment minister and the WA Environment Protection Authority had acted illegally in the assessment and approval of the James Price Point gas plant. WA Environment Minister Albert Jacob said the legislation would provide certainty for projects that had been identified as being at potential risk of being found to be invalid. (Source: Energy News Premium, 11/09/2014).

Discoveries

Apache Corp has made an oil discovery with its Phoenix South 1 well in WA-435-P offshore in the Canning Basin. Wireline and formation pressure tools have confirmed at least four discrete oil columns ranging in thickness between 26 to 46 meters plus two further hydrocarbon-bearing sands in the Lower Triassic Keraudren formation. Six light oil samples have been recovered from three intervals to date. Apache estimates as much as 300 million bbl of oil could be in place. Analysts said the oil discovery was potentially the largest in Australia over the past three decades and could host 60-90 million bbl of commercial oil reserves. Evaluation of the formation penetrated in Phoenix South 1 is underway and final calculation of hydrocarbon pay will depend on additional analysis. (Source: Apache Energy announcement, 18/08/2014, Carnarvon Petroleum announcement, 20/08/2014).

Santos has announced a significant gas-condensate discovery in the Browse Basin at the Lasseter 1 exploration well in WA-274-P. The well intersected a gross gas condensate bearing interval of 405 metres, with wireline logging confirming 78 metres of net pay over the Jurassic-aged Lower Vulcan and Plover intervals. Multiple independent hydrocarbon columns have been identified, including an estimated 250 metre column in the Vulcan reservoirs. Initial analysis of recovered hydrocarbon samples has confirmed a condensate to gas ratio of 10-25 bbls/mmscf. (Source: Santos announcement, 22/08/2014).

AWE Ltd has made a significant gas reservoir discovery below the original target with its Senecio 3 exploration well drilled in L 1 in the onshore Perth Basin. The Senecio 3 appraisal well was drilled to a total depth of 3,370 meters after intersecting the main Dongara/Wagina formation reservoir and encountering elevated gas shows. Multiple hydrocarbon bearing formations were encountered throughout the well. Wireline logs and pressure tests identified a potentially larger volume of gas in the lower secondary targets than the primary reservoir. As a result, AWE says contingent resources in the Dongara/Wagina have been upgraded to around 70 bcf of gas. More analysis will be required to estimate the resource in the lower reservoirs. (Source: AWE announcement, 02/09/2014).

Beach Energy’s Burners 1 exploration well in PEL 91 in the South Australian Cooper-Eromanga Basin intersected an oil bearing reservoir with one metre net pay in the Namur Sandstone and an oil bearing McKinlay Member. A drill stem test over the interval 1410.8 metres to 1418.0 metres in the McKinlay Member recovered 5.1 bbls of oil during the four hour test. The well has been cased and suspended as a future McKinlay Member oil producer. (Source: Beach Energy announcement, 03/09/2014).

Senex Energy and Beach Energy have made an oil discovery in their PEL 104 permit in the South Australian Cooper-Eromanga Basin. The Martlet 1 exploration well encountered good oil shows in the target reservoir and subsequent evaluation of logs indicate net pay of up to 6 metres. This is the first Namur Sandstone oil discovery in the PEL 104/111 joint venture area. “The presence of oil within the Namur Sandstone confirms the extension to the north of the play that has delivered prolific fields such as Bauer, Callawonga and others further south, and provides an additional primary target to the proven Birkhead oil play in the area,” Beach managing director Reg Nelson said. The well is being cased and suspended and is expected to be placed into production early next quarter. (Source: Beach Energy announcement, 12/09/2014).


 


Permit Updates and Changes

New South Wales

In the Sydney, Gunnedah and Surat Basins, applications PELA 158, PELA 159 and PELA 160 have been refused and these areas now revert to vacant acreage.

In the New England Fold Belt, PEL 285 was renewed to 04/08/2020 over a reduced area of 762 sq km.

 


Northern Territory

On the Ashmore Platform, AC/P 45 was renewed to 25/08/2019 over a reduced area of 1,344 sq km. Work program is as follows -

Year 1: G&G studies, 35 sq km licensing existing 3D multi-client seismic $0.4m
Year 2: 900 sq km 3D PSDM seismic reprocessing, G&G studies $0.75m
Year 3: G&G studies, geochemical modelling $0.45m
Year 4: G&G studies, 1 well $30.1m
Year 5: G&G studies, commercial evaluation $0.1m

In the Bonaparte Basin, NT/RL 7 was granted to Shell Development (Australia) P/L 32.5%, Eni Australia Ltd 32.5%, Petronas Carigali (Australia) P/L 25% and Osaka Gas Australia P/L 10% on 19/08/2014. The licence will expire 18/08/2019. Work program is as follows -

Year 1-5: integrated reservoir modelling, seismic interpretation, technical studies, concept engineering studies, well engineering studies, greenhouse gas management, commercial & marketing, appraisal drilling $70m.

In the Beetaloo Basin, Falcon Oil & Gas Australia has completed its farm-out agreement with Origin Energy Resources Ltd and Sasol Petroleum Australia Ltd. Origin and Sasol have acquired 35% each in EP 76, EP 98 and EP 117. Falcon retains 30% interest in the permits. Origin has been appointed operator.

In the Amadeus Basin, EP 145 was granted to Trident Energy Ltd 100% on 22/08/2014. The licence will expire 21/08/2019.

In the McArthur Basin, Tamboran’s interest in EP 161, EP 162 and EP 189 is held by Tamboran (Beetaloo) P/L.

In the Pedirka Basin, Tamboran's interest in EP 163 is held by Tamboran (Pedirka) P/L.

In the Ngalia Basin, Tamboran’s interest in EP 164, EP 165, EP 166 and EP 309 is held by Tamboran (Ngalia) P/L.

Geothermal

In the McArthur Basin, GEP 27829 was relinquished on 28/08/2014.

 


Queensland

AGL directors approved a plan to dispose of AGL’s interests in the Moranbah Gas Project in January 2014.  This includes licences ATP 1103, associated potential commercial areas PCA 134 to PCA 136, PCA 138 to PCA 152, and associated production licences PL 191, PL 196, PL 223 and PL 224.  AGL is seeking a buyer and expects to complete the sale by June 2015.

Senex has reached agreement to transfer its interests in PL 171 and ATP 574 (including associated potential commercial area PCA 76 and production licence applications PL 392 and PL 393) to the QGC JV.  In return the QGC JV will transfer its interests in ATP 795 (including production licence applications PL 311 and PL 312), ATP 767 (including potential commercial areas PCA 5, PCA 6 and PCA 7) and ATP 889 to Senex.  Senex will hold 100% of these licences.  Completion is expected by 14/12/2014 and is conditional on FIRB, Queensland Government and other regulatory approvals.

In the Eromanga Basin, the work program for ATP 299 is as follows -

Years 1-3: G&G studies
Year 4: G&G studies, 1 well to approx. 680m
(01/01/2013 to 31/12/2016)

In the Surat Basin, the expiry date for ATP 676 has been extended to 30/09/2018 under amendments to the Petroleum & Geothermal Act 2004.

In the Bowen Basin, the expiry date for ATP 742 has been extended to 28/02/2019 under amendments to the Petroleum & Geothermal Act 2004.  Work program is as follows -

Year 1: G&G review
Year 2: 5 stratigraphic wells to 300m
Year 3: 5 stratigraphic wells to 300m
Year 4: pilot program of three pairs of wells to 300m
(14/2/2013 to 28/02/2017, extended to 28/02/2019)

In the Surat Basin, the expiry date for ATP 746 has been extended to 30/11/2018 under amendments to the Petroleum & Geothermal Act 2004.  Work program is as follows -

Year 1: data compilation evaluation
Year 2: 4 cored wells with desorption to 550m
Year 3: 10 pilot wells to 550m
Year 4: 10 pilot wells to 550m
(30/11/2012 to 30/11/2016, extended to 30/11/2018)

In the Surat Basin, the expiry date for ATP 747 has been extended to 31/05/2017 under amendments to the Petroleum & Geothermal Act 2004.

In the Bowen Basin, the expiry date for ATP 749 has been extended to 28/02/2019 under amendments to the Petroleum & Geothermal Act 2004.  Work program is as follows -

Year 1: G&G review
Year 2: 5 stratigraphic wells to 300m
Year 3: 5 stratigraphic wells to 300m
Year 4: pilot program of three pairs of wells to 300m
(14/02/2013 to 28/02/2017, extended to 28/02/2019)

In the Eromanga Basin, the expiry date for ATP 920 has been extended to 28/02/2019 under amendments to the Petroleum & Geothermal Act 2004.  Work program is as follows -

Year 1: 1000 km seismic reprocessing, 500 km 2D seismic, 150 sq km 3D seismic, G&G studies
Year 2: 1 well to 1600m, 2 wells to 2700m
Year 3: 2 wells to 2700m
Year 4: G&G studies
(11/02/2013 to 28/02/2017, extended to 28/02/2019)

In the Eromanga Basin, the expiry date for ATP 924 has been extended to 28/02/2019 under amendments to the Petroleum & Geothermal Act 2004.  Work program is as follows -

Year 1: 1000 km seismic reprocessing, 500 km 2D seismic, 150 sq km 3D seismic, G&G studies
Year 2: 3 wells to 2600m
Year 3: 2 wells to 2600m
Year 4: G&G studies
(15/02/2013 to 28/02/2017, extended to 15/02/2019)

In the Cooper Basin, the expiry date for ATP 932 has been extended to 28/02/2019 under amendments to the Petroleum & Geothermal Act 2004.  Work program is as follows -

Year 1: 1000 km seismic reprocessing, 500 km 2D seismic, G&G studies
Year 2: 150 km 2D seismic, 150 sq km 3D seismic, 1 well to 2600m
Year 3: 1 well to 2600m
Year 4: 2 wells to 2600m
(15/02/2013 to 28/02/2017, extended to 28/02/2019)

Also in the Cooper Basin, the expiry date for ATP 948 has been extended to 31/05/2020 under amendments to the Petroleum & Geothermal Act 2004.   In addition, Bridgeport Energy (Qld) now holds 100% after Bow Energy transferred its interest to Bridgeport. Work program is as follows -

Year 1: 1780 km 2D seismic reprocessing
Year 2: 100 km 2D seismic, 1 well to 1800m
Year 3: 1 well to 1800m
Year 4: 1 well to 1800m
(20/5/2014 to 31/05/2018, extended to 31/05/2020)

In the Eromanga Basin, Drillsearch Energy  has withdrawn its application for ATP 950.  A decision is pending on the new preferred tenderer for the area.

The following potential commercial areas have been granted:

Licence           Grant date        Expiry date      Partners                                  

PCA 129
           11/08/2014        10/08/2029        Bow CSG P/L 100%
PCA 130           11/08/2014        10/08/2029        Bow CSG P/L 100%
PCA 131           11/08/2014        10/08/2029        Bow CSG P/L 100%
PCA 132           11/08/2014        10/08/2029        Bow CSG P/L 100%
PCA 133           11/08/2014        10/08/2029        Bow CSG P/L 100%
PCA 134           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 138           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 140           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 142           21/08/2014        20/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 145           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 146           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 147           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 148           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 149           19/08/2014        18/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 150           21/08/2014        20/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 151           21/08/2014        20/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%
PCA 152           21/08/2014        20/08/2029        AGL 99%, Arrow 0.3%, CH4  0.7%

In the Bowen Basin, PCA 149 now covers a reduced area of 195 sq km and PCA 151 now covers a reduced area of 175 sq km.

In the Surat Basin, PL 2 was renewed to 31/12/2017.

In the Surat Basin, PL 273 covers 201 sq km.  When the licence was granted in September 2011, the area covered by mining licence MDL 374 was excised from PL 273 and reverted back to ATP 648.  This was done pending a decision being made on the future of the UCG industry.

In the Surat Basin, production licence PL 13 has been replaced by the grant of PL 322 on 14/07/2014.  The licence will expire on 13/07/2044.

In the Surat Basin, PL 503 was granted on 18/08/2014.  The licence will expire on 17/08/2044.  As a result, associated potential commercial area PCA 12 has been invalidated by the grant of PL 503.  ATP 648 has been reduced and now covers 29 sq km.

Amendments to Petroleum & Geothermal Act 2004

You will have noticed that a number of Queensland licences have had their expiry dates extended for a 2 year period.  This is in response to amendments to the Petroleum & Geothermal Act 2004.  The relevant changes can be summarised as follows -

1.  If an ATP has been granted for 12 years, and is not in its last four year period, an automatic two year extension applies.
2.  If an ATP has been granted for less than 12 years, then a licence holder (or all licence holders if more than one) may apply to extend a licence for two years.
3.  If the extension is approved, the term of the ATP is extended for two years, and the period for the work program is also extended by two years e.g. an approved four year work program, will be carried out over 6 years instead.  Work required to be committed on an annual basis is only due at the end of the six year period, not on an annual basis.
4.  Mandatory partial relinquishments will also be extended by two years.

 


South Australia

In the Officer Basin, PEL 138 has been suspended by 12 months from 24/08/2014 to 23/08/2015. The licence has had its expiry date extended to 15/04/2019.

Also in the Officer Basin, PEL 147 and PEL 148 have been suspended by 12 months from 22/08/2014 to 21/08/2015. The licences have had their expiry dates extended to 27/07/2020.

In the Officer Basin, PEL 81 has been suspended by 12 months from 01/04/2014 to 31/03/2015. The licence has had its expiry date extended to 23/06/2016.

In the Cooper Basin, PEL 91 now covers 1,950 sq km due to the grant of PPL 253 PPL 256.

On the Adelaide Fold, application PELA 582 has been varied and now covers 5,687 sq km.

In the Cooper Basin, CO2013-A is under application as PELA 639 by Senex Energy Ltd 100%.  Guaranteed work program -13 wells, 575 sq km 3D seismic $40.1m.

In the Cooper Basin, CO2013-B is under application as PELA 640 by Strike Energy Cooper P/L 100%. Guaranteed work program - 2 wells $6m.

In the Cooper Basin, CO2013-C is under application as PELA 641 by Bridgeport (Cooper Basin) P/L 100%. Guaranteed work program - 3 wells, 300 km 2D seismic, 200 sq km 3D seismic $13.275m.

In the Cooper Basin, CO2013-D is under application as PELA 642 by Senex Energy Ltd 100%. Guaranteed work program - 8 wells, 600 sq km 3D seismic $29.6m.

In the Pirie-Torrens Basin, ARP TriEnergy P/L has applied for PELA 647 over 3,843 sq km.

In the Cooper Basin, PPL 253 - PPL 256 were granted to Beach Energy Ltd 40% and Great Artesian Oil & Gas P/L 60% on 13/08/2014 for an indefinite term/life of field.

In the Cooper Basin, Victoria Oil Exploration (1977) P/L 40%, Impress (Cooper Basin) P/L 25%, Permian Oil P/L 20% and Springfield Oil & Gas P/L 15% have applied for PPLA 259 over the Mustang field.

In the Cooper Basin, Beach Energy Ltd 50% and Great Artesian Oil & Gas P/L 50% have applied for PRLA 129 and PRLA 130.

In the Cooper Basin, Santos QNT P/L 60% and Great Artesian Oil & Gas P/L 40% have applied for PRLA 131 to PRLA 134.

In the Cooper Basin, Victoria Oil Exploration (1977) P/L 57% and Acer Energy 43% have applied for PRLA 135.

In the Cooper Basin, Victoria Oil Exploration (1977) P/L 40%, Impress (Cooper Basin) P/L 25%, Permian Oil P/L 20% and Springfield Oil & Gas P/L 15% have applied for PRLA 136 to PRLA 150.

Geothermal

In the Eromanga Basin, GEL 603 was relinquished 28/08/2014.

In the Arrowie Basin, Green Rock Energy has withdrawn applications GELA 164, GELA 165, GELA 243 and GELA 349.

Sequestration

In the Officer Basin, GSEL 576 to GSEL 583 have been suspended by 12 months from 22/08/2014 to 21/08/2015. The licenses have had their expiry dates extended to 27/07/2020.

 


Tasmania

In the Otway Basin, Beach has completed the acquisition of 20% of T/49P from 3D Oil and 3D Oil has received the remaining A$2.5 million of the A$3 million purchase price.  3D Oil's interest is held by 3D Oil T49P P/L.  3D Oil is in discussions with other potential farminees.
 


Victoria

In the Gippsland Basin, a variation was lodged on VIC/P 54 with NOPTA on 04/09/2014
.
 


Western Australia

In the Ceduna Basin, Murphy Australia Oil P/L has transferred its interest in EPP 43 to Murphy Australia EPP43 Oil P/L.

In the Browse Basin, INPEX is in the process of transferring 1.2% of its equity in the Ichthys LNG project to Kansai Electric Power Company and 2.625% to CPC. The equity interests will entitle Kansai and CPC to a participating interest in production licences WA-50-L and WA-51-L, as well as exploration permit WA-285-P.

In the Browse Basin, the year 6 work program for WA-314-P is now - geological, geophysical & geochemical studies $1m.

In the Browse Basin, WA-342-P was relinquished on 22/08/2014.

In the Carnarvon Basin, the Sappho Location WA-392-P L has been extended to 08/10/2016.

In the Browse Basin, the year 3 work program for WA-424-P has been extended by 9 months from 12/07/2014 to 12/04/2015. This licence has had its expiry date extended to 12/04/2018.

In the Canning Basin, Apache Northwest P/L has exercised its option to acquire 40% and operatorship in WA-436-P and WA-438-P.

In the Browse and Petrel Sub Basins, WA-440-P and WA-441-P are being relinquished.

In the Carnarvon Basin, WA-56-L was granted on 27/08/2014 for an indefinite term/life of field. Dixon Gas Interests are Woodside Energy Ltd 15.784%, Shell Development (Australia) P/L 15.784%, BHP Billiton Petroleum (Northwest Shelf) P/L 15.783%, BP Developments Australia P/L 15.783%, Chevron Australia P/L 15.783%, Japan Australia LNG (MIMI) P/L 15.783% and CNOOC NWS Pte Ltd 5.3%. Dixon Oil Interests are Woodside Energy Ltd 33.334%, BP Developments Australia P/L 16.667%, Chevron Australia P/L 16.667%, Japan Australia LNG (MIMI) P/L 16.666% and BHP Billiton Petroleum (Northwest Shelf) P/L 16.666%.

In the Perth Basin, Empire Oil & Gas has agreed to buy ERM’s interests in EP 389, EP 416, EP 426, EP 432, EP 440, EP 454, EP 467 and EP 480 for $16.34m. The transaction is subject to a number of conditions including shareholder, regulatory and contractual approvals. Shareholder approval will be sought at a general meeting to be held no later than 17/11/2014. Completion is expected late November.

In the Perth Basin, the Year 2 work program for EP 408 has been extended by 12 months from 29/07/2014 to 29/07/2015. The licence has had its expiry date extended to 29/07/2018.

In the Barrow Basin, EP 62 is being renewed.

In the Amadeus Basin, Central Petroleum has withdrawn applications STP-EPA-3, STP-EPA-4, STP-EPA-5 and STP-EPA-72.

Geothermal

In the Perth Basin, GEP 23, GEP 24, GEP 25, GEP 26, GEP 27, GEP 28 and GEP 41 are being relinquished.
 


New Zealand

In the Reinga Basin, application APP 56377 has been varied and now covers 136,964 sq km.

In the Taranaki Basin, Global Resource Holdings LLLP has transferred its 5% interest in PEP 38451 to Anadarko NZ Taranaki Company.

In the West Coast and East Coast Basins, PEP 50279 and PEP 56061 were relinquished on 02/09/2014.

In the Taranaki Basin, PMP 50509 has undergone a partial relinquishment and now covers 30 sq km.
 


Papua New Guinea

In the Papuan Basin, PPL 234 has a top-file application pending for 50% of the original area.  When granted, the new area will be held by Oil Search (PNG) Ltd 100%.  GPinfo has yet to receive details of the reduced area and/or the new top-file application number.

Also in the Papuan Basin, Oil Search (PNG) Ltd will acquire 10% of PPL 269 from Mitsubishi/Diamond Gas subject to JV and Government approvals.
 


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