Australian Releases Offshore Areas for Oil Exploration

Source: Xinhua (4/11/11)

"The Australian federal government on Monday released the biggest area in more than a decade for offshore petroleum exploration."

The Australian federal government on Monday released the biggest area in more than a decade for offshore petroleum exploration, in a move to highlight the country's commitment to exploiting its rich endowment of natural resources to meet Asia's surging demand for energy.

A total of 29 areas in nine basins in Australian waters covering around 200,000 square kilometers have been released, stretching from the West Coast through the Northern waters to Victoria in the south.

According to Resources and Energy Minister Martin Ferguson, the release of 29 areas for offshore petroleum exploration is vital for Australia's future energy sources.

"The release of acreage is a critical step in maintaining Australia's energy security," Ferguson said in a statement released on Monday.

"With a trade deficit in crude oil, liquefied petroleum gas (LPG) and refined products expected to top 30.97 billion U.S. dollars by 2015, finding new reserves is a priority."

The announcement followed consultations over environmental, fishing, security and other third party considerations with support by data and analysis from Geoscience Australia.

Ferguson said the exploration permits allowed companies an exclusive right to apply to search for oil and gas in those areas.

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.