PEP11 -Baleen- Issuance of Tender for Drilling Project Management Services

Source: www.gulfoilandgas.com 7/20/2021, Location: Not categorized

BPH Energy Limited is pleased to advise that investee Advent Energy Ltd has issued a Call for Tender for the provision of Drilling and Project Management Services for their upcoming exploration well.

The well is planned to be drilled in 125m of water approximately 26km offshore and 30km SSE of the City of Newcastle. The drilling of the well is subject to regulatory approvals and is expected to take around 40 days to reach total depth.

The well has two objectives; (i) a gas target and (ii) evaluation for Carbon Capture Storage, subject to regulatory approvals and funding.

When the well has reached Total Depth and has been fully evaluated, it will be plugged and abandoned as per regulatory requirements, in line with pre-drill planning as an exploration well, the well head and associated equipment will be removed from the seabed.

PEP11 interests are:
Advent Energy Ltd 85 %
Bounty Oil and Gas NL 15%

David Breeze (Director) authorised the release of this announcement to the market.


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