Exploration firm Blue Energy Limited announced Wednesday that a sparsely explored area of Australia’s Cooper Basin is the focus of a new oil and gas search by the company following the granting of four key permit areas to the Company by the Queensland Government.
Blue Energy has been notified by the Queensland Department of Natural Resources and Mines that ATP 656P, 657P, 658P and 660P have been officially granted to the Company’s wholly-owned subsidiary, Blue Energy (Qld) Pty Ltd. The effective commencement date of these permits is July 1 and the initial permit terms will be 4 years.
The permits are located over an area of 2,007 square miles (5,200 square kilometers) on the Northern Flank of the Cooper Basin in Queensland, where the Ballera-to-Mt Isa gas pipeline traverses one of the permits, ATP657P.
The Inland Oil field is immediately adjacent, and the Santos-operated Cook and Cuisinier oil fields are on trend and in close proximity to Blue Energy’s ATP656P.
Blue Energy’s Managing Director and CEO, John Phillips said ”We are delighted to now be able to undertake exploration activities in this significantly under-explored portion of the Cooper Basin, particularly at a time when there is growing interest in the Basin acreage, both as a potential source for east coast gas supply plus high value oil discoveries.”
“These newly-awarded Blue Energy permit areas have had no exploration conducted over them since the mid 1990’s, when they were part of the areas required to be relinquished by the Santos/Delhi-led Joint Venture,” Mr Phillips said.
“Since that time, the Cooper Basin ‘flank oil play’ has developed and is now well understood, as evidenced by the newly-discovered exploration/production fairway along the western flank in the South Australian part of the Basin,” he said.
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