Project Profile
Location: WA, Australia
Reserves: 500 million barrels
The EP478 permit is located in the Canning Basin of Western Australia. The permit covers a large structure on a proven petroleum system - the Looma 1: 500 million barrel tight oil discovery.
The operator of the project is Buru Energy with 50% interest in the project. Mosman, via a wholly owned subsidiary Trident, has the right to farm into 17.5% of exploration permit EP478 by funding 25% of the first well pursuant to a farm-in agreement. Should Trident not elect to farm in and the well is a discovery, Trident earns 7.5% of the permit. Apache Energy has an option to take up to a 40% in interest in EP478, subject to the exercise of Trident\'s pre-emptive rights.
Operators:
Buru Energy Limited: Operator with 50% interest
Mosman Oil and Gas: 17.5% interest if farm-in rights are exercised, otherwise 7.5% interest)
Macquarie Capital & Brookfield Asset Management: 40% interest
Contractors:
Subcontractors: