Page 13 - AsianOil Week 49

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NEWS IN BRIEF
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operator is Freeport LNG Development, L.P. Osaka Gas and JERA will respectively lift approximately 2.32 MTPA of LNG based on the liquefaction tolling agreements with FLIQ1.
Osaka Gas and JERA have, by participating in the Project, contributed to its start-up, and intend to utilize the experience gained through operation of the Project to expand their LNG businesses.
In addition, through the procurement of LNG from the Project, Osaka Gas and JERA will each secure LNG without destination restrictions, diversify their supply sources and price indices, and enhance the stability and flexibility of their LNG procurement.
JERA, December 5, 2019
OCEANIA
MJV, AGL sign gas supply agreement
Central Petroleum today announces a new GSA has been signed by the MJV with AGL Energy. The agreement provides for up to 21.9 PJ of ‘firm’ and ‘as-available’ gas supply over three years. Gas will be supplied under the GSA by Central and its MJV partner, Macquarie Mereenie. The GSA is subject to conditions precedent, including the execution of final gas transportation agreements.
Whilst Central has a 50% contractual obligation for gas supply under the GSA, Central expects to receive the benefit of the majority of the revenue during the first two contract years under portfolio balancing arrangements with its MJV partner, discussed later in this release.
Commencement of supply on 1 January 2020 coincides with the expiration of Central’s Incitec Pivot Ltd GSA and will have a positive impact on Central’s average portfolio gas prices.
CENTRAL PETROLEUM, December 11, 2019
APA takes control of Orbost Gas Plant
Cooper Energy provides the following update on the status of the Sole Gas Project and in particular the upgrade of the Orbost Gas Plant and the outlook for first gas production.
As previously advised, the Sole gas field
is ready to produce gas on completion of the Orbost Gas Plant upgrade and commissioning which is being managed by the plant owner, APA Group.
APA has advised the responsibility for management of the Orbost site was transferred from the construction contractor Downer Limited, to APA on 10 December 2019. This is an important milestone which allows APA to continue with the next phase of commissioning
activities, including the onsite power generation. The introduction of gas from the Eastern Gas Pipeline (EGP) for the first phase of gas
commissioning is planned to commence in early January 2020. APA has advised the second phase of gas commissioning, which involves gas supply from the Sole gas field, is now planned to commence late January. On this basis, the first supply of Sole sales gas to the EGP should commence in February 2020.
COOPER ENERGY, December 10, 2019
Strike completes Walyering 3D seismic campaign
Strike Energy Limited is pleased to announce that it has completed the Walyering 3D seismic acquisition which included over 90 km2 of high-quality data.
The acquisition was completed on time and represents the beginning of an exciting exploration program that will continue within the Strike 100% owned Perth Basin acreage throughout 2020.
The 3D seismic was shot over a known hydrocarbon accumulation and upon initial inspection is of a high quality and is the first dataset of its kind generated within the broader area. Strike will now look to identify drilling targets for future programs.
Strike has 100% equity ownership of the Walyering prospects within EP447 as well as the adjoining leases. Uplifts in prospectivity from the new 3D seismic may have a compounding effect on Strike’s surrounding acreage.
After interpretation, Strike will look to progress marketing for a partner to join in this exciting project.
STRIKE ENERGY, December 10, 2019
Strike completes capital procurement program
Strike Energy is pleased to announce that, following its successful capital procurement program, the Company
is fully funded to deliver its planned exploration, appraisal and development activities during 2020.
Total funds from the capital procurement process, which comprised a share placement and the Share Purchase Plan announced on 1st November 2019, were over $30 million before costs. The Share Purchase Plan has now closed.
Strike’s 2020 program will include engineering, development planning works and the drilling of two appraisal wells, which will be completed as future producers at West Erregulla. The successful completion of this program will put the Company in a position to consider a Final Investment Decision on Phase 1 of the West Erregulla development as early as the end of 2020. The timeline to FID remains subject to the appraisal results, JV discussions/processes and other agreements and approvals.
The 2020 exploration program also includes activities across Strike’s 100% owned land position in the Perth Basin, with 3D seismic acquisition at Walyering (due to complete early this month), and across its Permian gas prone acreage in the fairway adjoining West Erregulla. These critical data acquisitions will allow Strike to mature several pre-diagnosed leads into drillable prospects and identify additional targets in highly prospective acreage currently void of seismic data.
STRIKE ENERGY, December 4, 2019
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