"Advent, through wholly owned subsidiary Asset Energy Pty Ltd, holds an 85% interest and is operator of the permit. Bounty Oil and Gas NL (ASX:BUY) holds the remaining 15%.The Joint Venture is now reviewing the work program and evaluation proceeding with the drilling of a well at the Baleen target subject to approvals of NOPTA and other regulator authorities. The PEP11 project lies in the offshore Sydney Basin adjacent to the NSW coast, extending from Sydney to Newcastle and situated in Commonwealth Waters.The PEP11 project comprises of significant structural targets believed to hold material quantities of natural gas. PEP11 is supremely located to potentially supply gas into the east coast gas market"
BUY now on my watchilst
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