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| Two
Farm-in Agreements |
| The AOC Group entered into farm-in agreements in respect of 2 onshore Australian areas, which are located as shown in the diagrams below. |
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| PELA
182, Cooper Basin, SA |
PEL 182 is located at Coongie Lakes in the Cooper Basin in South Australia and comprises an area of 1,745 square kilometres. It is approximately 60 kilometres north of the Moomba oil terminal and processing facilities with access to the oil pipeline to Port Bonython and the Cuttapirrie-Tirrawarra–Moomba pipeline. This enhances the viability of any discoveries that are made in the area.
The Cooper-Eromanga basins are Australia’s largest onshore oil and gas province and there are 39 oil fields and 112 gas fields on line in the basins with signifi cant production of oil and gas in the area since 1982.
New permit holders in the Cooper-Eromanga basins have, since 2002, drilled over 47 wells and have had success ratios that have resulted in the discovery of a minimum of 17 oil and gas fields. |
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| EP435,
Carnarvon Basin, WA |
EP 435 is located in the onshore Exmouth Sub-Basin in the Carnarvon Basin in Western Australia and is approximately 100 kilometres south of the port of Exmouth. It covers an area of 318 square kilometres. The Northwest Coastal Highway, an allweather sealed road runs north south through the eastern part of the permit and the Dampier-Perth natural gas pipeline lies about 100 kilometres to the east of the permit.
The interest excludes the production from the Rough Range Oilfield, Australia’s fi rst oil discovery in 1953 which is situated within the permit. AOC No 3 will, however, have access to the oil production facilities situated on the area and which could be accessed by a flowline. |
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