Sinopec Oil and Gas Australia (SOGA), the manager of the Puffin Oil Field joint venture, has completed an extensive evaluation of the exploration permit AC/P 22.

SOGA have recommended to AED Oil and its administrators that in the absence of identifiable robust exploration targets likely to produce economic outcomes, that AC/P 22 be surrendered. Accordingly the Joint Venture Management Committee, the Board of AED Oil and its Administrators resolved to support this recommendation.

On the 16th of July AED Oil was informed by SOGA via the National Offshore Petroleum Titles Administrator (NOPTA) that the Surrender Application for the permit AC/P 22 was accepted effective on the day which a notice of the surrender is published in the Australian Government Gazette.

Tags: Sinopec Oil and Gas Australia (SOGA)