Bass Strait Oil Company Ltd is pleased to announce that new exploration permit Vic/P66 has been awarded to a group of Australian companies consisting of Bass Strait Oil Company Limited 60%, operator Strategic Energy Resources Limited 23%, and Oil Basins Limited 17%
The Vic/P66 permit covers 2160 square kilometers from approximately 50 kilometers offshore in the eastern
The eastern area of the Gippsland containing Vic/P66 has not been targeted for significant exploration in the past. Distance from established fields and infrastructure and increasing water depths are two factors that likely limited earlier exploration. However, as evidenced in many areas around the world today, the demand for energy and modern oilfield technology are combining to bring exploration in such areas into the industry mainstream.
The Vic/P66 group believes that this new permit provides early-stage exploration exposure to the potential for extensions of proven
Acquiring this new permit interest complements and extends Bass Strait Oil Company’s strategic focus on the southeast
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