TAP gets more time to decide on VIC/P67 (Australia)

Australian energy company WHL Energy Limited has agreed to grant an extension to Tap Oil Ltd for the election date of the seismic option to acquire a 10% interest in exploration permit VIC/P67, offshore, until the close of business 13 February 2015. VIC/P67 lies in the offshore Otway Basin, approximately 200 km WSW of Melbourne, Victoria. 

During October 2014, WHL Energy Limited began a farm-out process for VIC/P67 to seek partners through the exploration drilling phase while retaining meaningful exposure to the permit.

A data room was opened and, according to WHL, strong interest was received from a number of pre-qualified companies. WHL Energy has said that it remains in discussions with several companies regarding a potential farmin.

WHL Energy previously identified 14 prospects with total best estimate Prospective Resources of 1,044 Bcf of gas and 31.2 MMbbl of condensate and LPGs in VIC/P67.

The company has said that the strong demand for domestic gas on the east coast of Australia together with the conventional VIC/P67 Prospective Resources may provide a cost competitive gas supply to these markets.

David Rowbottam said: “The extension to the election date of the seismic option provides the best opportunity for a strong joint venture going forward with TAP being a well-funded and capable potential joint venture participant. The Company is also continuing to work through the farm-out process which is expected to carry on through January.”

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply