Titan Energy Gets Extension on Western Australia Permit

Titan Energy has been granted a 12 month extension on the North Perth Basin EP455 permit by the Western Australian Department of Mines and Petroleum (DMP).

The company owns an 18.5% interest in the permit with operator, ARC Energy, a fully-owned subsidiary of AWE Limited, holding the other 81.5%.

In its application to the DMP, ARC Energy commented that there had been unavoidable delays to the proposed drilling of the Drover-1 well in EP455. However these delays had been beneficial as it had allowed the Operator time to consider relevant findings associated with the Woodada Deep-1 andArrowsmith-2 wells, also in the North Perth Basin and how these findings could impact on Drover-1, Titan said.

The EP455 permit is located to the south and along dip to the recent Arrowsmith-2 and Woodada Deep-1 gas discoveries in the North Perth Basin and has good potential for gas exploration.