Page 15 - AsianOil Week 05 2021

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customers on the existing Albury-Wodonga
gas distribution network, with the facility also
able to supply industry and transport markets.
The HyP Murray Valley bid has been
submitted alongside the Clean Energy
Innovation Park (CEIP) project proposal, a
joint venture between AGIG and international
integrated energy group ATCO.
The CEIP will be located alongside
renewable electricity generation assets in
Waradarge, Western Australia. It comprises
a 10MW electrolyser and is capable of
producing 4.0 tonnes of renewable hydrogen
per day for use in gas networks, industry and
transport.
These projects add to AGIG’s current
effectively navigate the future as one Udenna US$82.0 million, comprising cash and bank hydrogen developments in Hydrogen Park
family.” balances of US$89.4 million, and gross debt South Australia and Hydrogen Park Gladstone
Escalona was the Executive Vice President outstanding of US$7.4 million. Jadestone’s in Queensland and demonstrates AGIG’s
and Head of the Institutional Banking remaining gross debt comprises the final commitment to target 10 per cent renewable
Group of CTBC Bank prior to joining the repayment of the Company’s reserves-based gas in networks by no later than 2030.
Udenna group of companies. With this loan (“RBL”), drawn to part fund the Montara Following Expressions of Interest in May
new appointment as President of Udenna, acquisition in September 2018. The final RBL 2020, seven projects, including Hydrogen
he will concurrently serve as President and redetermination exercise was undertaken in Park Murray Valley and the CEIP were invited
Chief Executive Officer of PH Resorts Group December 2020 and was assessed at a level by ARENA to submit a full application as
Holdings, Inc., the Udenna Group’s gaming above the remaining drawn portion. Indeed, part of the $70 million Renewable Hydrogen
and hospitality subsidiary. the Company’s drawn portion under the RBL Deployment Funding Round.
“I am truly honored to be given this facility has remained comfortably below each AUSTRALIAN GAS NETWORKS, February 4,
opportunity to be an instrument of synergy half yearly redetermination throughout the 2021
and growth, not just for the Udenna group life of the loan, despite the 71 day shutdown
of companies but more importantly for the in Q4 2018, the heavy offshore spending Strike Energy provides West
country, as we deepen our commitment to programme in 2019, and the oil price collapse
being an indispensable partner in nation- in 2020. The final scheduled repayment will be Erregulla upate
building, driven by the Filipino passion for made at the end of Q1 2021.
excellence,” Escalona said. JADESTONE ENERGY, February 1, 2021 Strike Energy provides an update on the West
UDENNA, February 1, 2021 Erregulla Appraisal Campaign well on behalf
of the EP469 Joint Venture.
Jadestone achieves OCEANIA the 26” surface hole section of WE4 down
Since the last update, Strike has drilled
production guidance target Hydrogen proposed for to 707m and is drilling ahead. During the
previous period, a section of the Rig 970’s
Jadestone achieved its revised 2020 40,000 customers in mud system became inoperable and several
production guidance target, with full year days of downtime were observed whilst
production averaging 11,438 bbls/d. The Albury-Wodonga waiting for delivery of a replacement part.
Company realised an average oil price of Outside of this unavoidable downtime,
US$44.75/bbl in 2020, excluding hedging, and Australian Gas Infrastructure Group (AGIG) progress has been good, and drilling has been
generated net revenue of US$217.9 million. is proud to partner on two renewable smooth.
Unaudited cash operating expenses for hydrogen project bids to the Australian Upon announcement on the afternoon
the full year were around US$23.24/bbl1, Renewable Energy Agency (ARENA), of the 31st of January 2021 that the West
after the customary adjustment for workover submitted last month. Australian Government was moving into a
activities and for abnormal costs associated In Victoria, Australian Gas Networks 5-day lock down / quarantine period, Strike
with damage from Cyclone Damien in Q1. (AGN) – part of AGIG – is partnering with mobilised all of the required personnel to
Cashflow savings relating to Project Clover global low-carbon energy company ENGIE site in order for the operations to continue
amounted to a US$33.8 million reduction to develop a renewable hydrogen project that without the need to stand down whilst
from plan, and over 25% of the realised will supply carbon-free hydrogen at volumes quarantine was observed.
savings reflect structural changes in the of up to 10 per cent, to around 40,000 existing Strike will complete drilling the 26” surface
Company’s operations and hence will be residential, commercial and industrial hole section to a nominal depth of 1,200m
reflected in the Company’s outlook targets for connections. and will then proceed to case and cement the
2021. Unaudited capital spending for the full The 10MW Hydrogen Park Murray Valley section before assessing the current personnel
year was approximately US$26 million. (HyP Murray Valley) project will be co- movement restrictions in the State and
Jadestone more than doubled its net cash located with the West Wodonga Wastewater drilling ahead.
balance in 2020. As of December 31, 2020, Treatment Plant and supply renewable STRIKE ENERGY, February 4, 2021
the Company had a net cash balance of hydrogen blended with natural gas to

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