WHL Energy Receives Approval to Vary Work Program
Australian energy company WHL Energy Limited (WHL Energy or the Company) announced Wednesday that it has received approval from the Commonwealth-Victoria Offshore Petroleum Joint Authority for an above-commitment variation of the Permit Year 3 work program for exploration permit VIC/P67 in the Otway Basin, offshore Australia, and a 12 month suspension of the Permit Year 3 work program commitments, with a corresponding 12 month extension of the permit term. As a result, Permit Year 3 will end on Aug. 3, 2016 and the permit term will end on Aug. 3, 2019.
WHL Energy Chairman, Stuart Brown, said; “This approval recognizes the extensive exploration efforts conducted over the past few years to evaluate the gas potential within the VIC/P67 permit and provides the time necessary to de-risk and further mature the identified prospectivity.”
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