Project Profile
Location: North of Hobart in central Tasmania, Australia
Area: 3,840 sq km
Licence award: 16th January 2014
Licence relinquishment: June 2016
Petratherm Ltd. has been awarded a Petroleum Exploration Licence (EL3/2013) covering approx. 1,505 square miles (3,900 square kilometres), north of Hobart in central Tasmania, Australia to explore for conventional and unconventional oil and gas. As part of the license application process, PetraGas responded to 22 written submissions from potentially affected landowners and this resulted in some areas being excised from the final license area.
The exploration program for the first two years of the license, as outlined in the license conditions, is as follows:
Year 1: Review of previous work, modeling and interpretation of existing geophysical data, field sampling, core collection and analyses.
Year 2: Gravity and/or magneto-telluric surveys to map basin geology prior to commencing any on ground exploration work, PetraGas will require approval of that work from Mineral Resources Tasmania (MRT). As part of that approval, appropriate stakeholder consultation must be undertaken in accordance with MRT’s regulations and codes of practice.
Operators:
Petratherm Limited (through its wholly owned subsidiary, PetraGas Pty. Ltd.): Operator with 100% interest