Leigh Creek gets exploration licence in Cooper basin
Sydney-listed Leigh Creek Energy has been awarded petroleum exploration licence 676 (PEL 676) in South Australian Cooper basin, it said on September 3.
“LCK’s portfolio of Cooper basin exploration permits allow the company to diversify activities with a secondary development project which complements the Leigh Creek Energy Project (LCEP),” Leigh Creek managing director Phil Staveley said.
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Located 550 km north of Adelaide, the LCEP will initially produce 1mn metric tons/year of urea using the company’s 1,153 petajoules 2P gas reserves.
“While building the LCEP remains our ongoing focus the grant of PEL 676 illustrates our continued progress on our portfolio diversification strategy and the ongoing support of the South Australian government,” Staveley added.
Having recently completed a Native Title agreement, the company can now start exploration in PEL 676 in line with the agreed programme of work, it said. The programme will focus on leads identified from existing 2D seismic with 3D seismic required to be undertaken to mature drillable targets.
“Engagement with targeted parties to farm-down a portion of this permit to an operator is the initial priority in line with the strategy of maximising exposure across the Cooper and Eromanga basins,” Leigh Creek said.