Beach Energy Ltd advises the following in relation to the unconventional exploration program in the Nappamerri Trough Natural Gas (NTNG) project in PEL 218 (Beach 70% and operator, Chevron Exploration Australia 1 Pty Ltd (“Chevron”) 30%) and ATP 855 (Beach 46.9% and operator, Chevron 18% and Icon Energy Ltd 35.1%), and the South Australian Cooper Basin Joint Venture (SACB JV) (Beach 20.21%, Santos Ltd 66.6% and operator, Origin Energy Ltd 13.19%).

The Joint Venture has received an offer of Petroleum Retention Licences over the entirety of PEL 218 which will secure tenure over this strategically positioned resource, initially for up to 15 years. The offer, from the South Australian Government, is in recognition of the Joint Venture proving the continuous nature of the basin centred and shale gas plays and demonstrating the ability to flow gas from multiple sections of the Permian target zone.

Tags: Beach Energy Limited