WHL Energy Limited provides VIC/P67 tap update

Australian energy company WHL Energy Limited has announced that company 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, until the close of business 13 February 2015.

During October 2014, WHL Energy Limited commenced 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 strong interest was received from a number of pre-qualified companies, the company remains in discussions with several companies regarding potential farming.

WHL Energy previously identified 14 prospects with a total best estimate of 1044 Bcf of gas and 31.2 MMbbl of condensate and LPGs in VIC/P67. WHL Energy’s position remains strong with demand for domestic gas on the east coast of Australia together with the conventional VIC/P67 prospective resources that may provide a cost competitive gas supply to these markets.

David Rowbottam commented: “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.”

Adapted from press release

Published on 02/01/2015


Get your FREE Oilfield Technology magazine »

Get your FREE trial of Hydrocarbon Engineering magazine »

Get your FREE trial of World Pipelines magazine »


 
 

Related articles

WHL Energy Ltd provides project update

The company has received notice that AWE has elected not to proceed as part of the VIC/P67 joint venture.

WHL Energy reports initial interpretation results

WHL Energy Limited provided the following update regarding the early interpretation of the Junon 3D seismic dataset.

WHL Energy gives resource update

Exploration prospect inventory with total best estimate prospective resources of 1044 billion ft3 of gas and 31.2 million bbls of condensate and LPG.

WHL Energy completes Seychelles 3D seismic survey

Australian energy company WHL Energy Limited has announced that the 590 square miles Junon 3D seismic survey offshore Seychelles has been completed.

Recommend magazines

  Oilfield Technology