Gulf Oil and Gas accountACCOUNT

Blue Energy Grants KOGAS Extension of Farm-In Option

Source: www.gulfoilandgas.com 3/1/2011, Location: Not categorized

Blue Energy Limited advises that it has agreed to a request from Korea Gas Corporation (KOGAS) to further extend the expiry date on its farm-in option over ATP813P (Galilee Basin) and ATP814P (Bowen Basin) to 28 February 2012.

Given the operational delays experienced in Blue Energy's ATP814P exploration activities, caused by the extensive flooding and cyclonic activity, KOGAS requested the extension of farm-in option period until 28 February 2012.

Background
As part of the $12.571m share placement in Blue Energy made by KOGAS in August 2009, KOGAS was granted an option (initially expiring 30 June 2010) to farm-in to Blue Energy's Galiliee Basin permit ATP813P and / or ATP814P in the northern Bowen Basin. Upon request from KOGAS in June 2010, Blue Energy granted an extension to this original option until 28 February 2011.

KOGAS is a 15% equity participant in the two train 7.8 mtpa GLNG project which reached milestone final investment decision from the Santos led consortium in January of this year. KOGAS has also executed offtake agreements from the GLNG project for 3.5 mtpa over 20 years. First LNG exports from GLNG are expected in 2015.

Acquisitions and Divestitures News in Australia >>

Canada >>  2/19/2020 - Calima Energy Limited (CE1) (Calima) owns and operates drilling and production rights in British Columbia (”Calima Lands”). The Company is pleased to ...
Vietnam >>  2/14/2020 - KrisEnergy has announced that its wholly-owned subsidiary, KrisEnergy (Vietnam 115) Ltd, has entered into a farm-out agreement with a major internatio...

Ireland >>  2/13/2020 - Providence Resources P.l.c., the Irish based Energy Company provides the following corporate update. ...
United Kingdom >>  2/13/2020 - i3 Energy plc, an independent oil and gas company with assets and operations in the UK, is pleased to announce the following update. ...

Nigeria >>  2/12/2020 - Zenith Energy Ltd. has entered into final stage negotiations with a national oil authority to secure a material oil production license in West Africa....
Norway >>  2/11/2020 - Aker BP has entered into an agreement with PGNiG Upstream Norway AS to swap its 3.3 percent interest in the non-operated Gina Krog field and an 11.917...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |

More News

Related Links

AU NZ
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.