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- BPH Energy’s (BPH) investee company is looking to secure tenders for its contended PEP11 exploration prospect even though permit approvals remain undetermined
- Advent Energy’s wholly owned subsidiary, Asset Energy, issued a call for equipment, materials and associated services for the Baleen drilling programme within the Offshore Sydney Basin
- The company affirms the call represents an important step in planning for the Baleen-1 well, however, approvals to extend the permit remain pending amid pushback from the NSW Deputy Premier and the opposition
- The company affirms the call represents an important step in planning for the Baleen-1 well and ensures that Asset will be ready to commence drilling “after relevant approvals have been received”
- BPH Energy shares are up 5.38 per cent, trading at 9.8 cents
BPH Energy’s (BPH) investee company is looking to secure tenders for its contended PEP11 exploration prospect even though permit approvals remain undetermined.
Advent Energy’s wholly owned subsidiary, Asset Energy, issued a call for the provision of subsea wellhead equipment, materials and associated services for the Baleen drilling programme within the Offshore Sydney Basin.
The company affirms the call represents an important step in planning for the Baleen-1 well and ensures that Asset will be ready to commence drilling after relevant approvals have been received.
The status of these approvals, which were initially filed for in February, remains somewhat ambiguous after NSW Deputy Premier and Minister for Regional Industry and Trade John Barilaro and opposition leader Anthony Albanese said the permit should be rejected.
In its statement, BPH assured the well would be plugged and abandoned with the wellhead and associated equipment set to be removed from the seabed once it had reached a total depth and been full evaluated.
Advent owns 85 per cent of the PEP11 joint venture, which is working to explore the 4576-square-kilometre permit. ASX-listed Bounty Oil and Gas (BUY) owns the remaining 15 per cent.
BPH Energy shares are up 5.38 per cent, trading at 9.8 cents at 11:04 am AEST.
