04/07/2016 - News

Notice on expiry of petroleum exploration permit WA-341-P

TOTAL E&P Australia (“TOTAL”)

ARBN 112 603 880 (registered in France, liability of the members is limited)

 

TOTAL gives notice that:

1.  Petroleum Permit WA-341-P expired on 2 March 2016, after the obligation to drill one exploration well during Permit Year 3 was not met; and,

2.  It entered into a Good Standing Agreement (GSA) dated 24 May 2016 in accordance with the Offshore Petroleum Exploration Guidelines so that it remains in good standing with the Joint Authority.

 

The GSA requires that TOTAL expends AU$5,529,200 on exploration activity within qualifying exploration permits (being permits obtained either from re-released areas or first release areas that failed to attract any other bids). Successful bidding on acreage must occur within two acreage release rounds following the execution of the GSA and expenditure within the permits must be directed toward field activities.

 

Dated this 5th day of July 2016

Petter Undem

Managing Director

Total E&P Australia

Level 13, BGC Centre

28 The Esplanade

Perth WA 6000