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Norwest Energy & Energy Resources Awarded Extension to EP368 Work Program

Source: 5/21/2020, Location: Not categorized

JV partner Norwest Energy reports that operator Energy Resources has received approval from the Department of Mines, Industry Regulation & Safety in relation to its recent application for a twelve month suspension and extension to the EP368 work program commitments, such that the current permit year has been extended to 29 June 2021.

The purpose of the application was to provide additional time for drilling of the Lockyer Deep-1 exploration well, in fulfilment of the current permit year's work commitment that was previously required to be completed by 29 June 2020.

As stated in the Company's Quarterly Activity Report of 27 April 2020, the rig contracting process is ongoing with the Operator in discussions to secure a rig for drilling at the earliest opportunity. Significant drilling activity is planned by various joint ventures withinthe Perth Basin, commencing Q3 2020, with up to seven wells now planned for the next round of drilling - a combination of exploration, appraisal and development wells.

The joint ventures continue to work collaboratively in order to jointly secure rigs for multi-well programs, thereby reducing mobilisation costs on a per-well basis, and the Company looks forward to providing a further update in due course.

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