Cooper Energy wins new permit in Gippsland basin
Sydney-listed Cooper Energy has been granted 100% equity in exploration permit VIC/P80 located in the Gippsland basin, offshore Victoria, the company said on April 13.
VIC/P80 is adjacent to several gas and oil fields including Sole to the east, Basker, Manta and Gummy to the south and Kipper to the west. The permit is granted to Cooper for a six-year term. The primary three-year term is a guaranteed work programme consisting of licencing 3D seismic data and geological and geophysical studies, Cooper said.
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Cooper managing director David Maxwell said the new permit is an “exciting” addition to the company's Gippsland basin position. "The Gippsland basin is the major gas-producing region in southeast Australia and is a competitive supply source for new developments. VIC/P80 adds to our growing Manta gas hub potential and continues our efforts to identify and bring new gas supply to eastern Australia.”
Previous exploration in VIC/P80 discovered the Leatherjack oil field. Cooper has identified prospectivity in the Golden Beach and Emperor sub-groups. Nearby prospect analogues include the Kipper, Manta and Judith gas fields, the company said.