New Licenses Awarded for Australia's Cooper Basin
Successful bidders have been announced for three new Exploration Licenses within Australia's Cooper Basin.
SAPEX Ltd. was the successful bidder for CO-2010-A and CO-2010-B. Ambassador Exploration Pty. Ltd. was the successful bidder for CO-2010-c.
A total of 11 bids were received from six national and international explorers for the three blocks. The blocks, which are prospective for oil and gas and the CO2010 acreage release is the tenth in the Cooper Basin since 1998.
Minister for Mineral Resources Development, Tom Koutsantonis, said the high number of bids and great interest in these blocks confirms that the Basin remains a very attractive exploration address. The turnover of Cooper Basin acreage since 1998 has resulted in a number of ‘company-making’ discoveries, he said.
Koutsantonis said the highly competitive bidding reflects the petroleum exploration industry’s optimism towards the Cooper Basin and the asset in their exploration portfolios.
"The Cooper Basin is Australia’s largest onshore oil and gas producer and this news is a real vote of confidence in for the area and for the South Australian mining industry."
Source: Primary Industry and Resources South Australia