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Ann: Significant Gas Discovery at Lockyer Deep-1, page-226

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seahunt

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09/09/21

09:55

Post #: 55939859
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Originally posted by tucs: ↑

Posted before that i am unsure why MIN would want to take over NWE. They have 80% of LD-1, i think they are taking it and their energy mob is running the show.
Also have a read of the below. I tried to copy and paste but i can show maps of the area if required.
My own view is the only way MIN would try and take NWE would be if they ran into money difficulties and they got it on the cheap, have NWE now got enough money to continue drilling for more gas?.

Mineral Resources Limited (ASX: MIN; MRL or Company) is pleased to announce that it has been
successful in the recent WA Government Petroleum Acreage Release, with the award of two highly
prospective gas exploration permits in the Perth and Northern Carnarvon Basins.
The award of these permits aligns with MRL’s strategy to secure its own natural gas supply to provide
energy security for current and future MRL mining operations at lower-cost and with lower emissions
to replace diesel use across the business. MRL has committed to achieve Net Zero Emissions by
2050 and is presently developing the roadmap to enable this target to be achieved. A critical aspect
of that journey is to reduce the Company’s reliance on diesel fuel, and natural gas will play a key
role in this transition.
Permit L20-4 is located in the highly prospective Perth Basin, host to several significant recent
conventional gas discoveries. The acquisition spanning 2,289km2 makes MRL the largest petroleum
acreage holder in the Perth Basin, operating permits totalling more than 7,200km2
.
Permit L20-1 is located in the Northern Carnarvon Basin and spans an area of 6,293km2
. MRL and
Buru Energy (ASX:BRU; Buru) successfully submitted a joint bid, and will now form a 50/50 joint
venture partnership, with Buru as the permit operator. This permit is immediately adjacent to MRL’s
proposed Ashburton Infrastructure Development including the Bungaroo and Kumina mining projects
and is strategically located close to existing gas infrastructure including the Tubridgi gas storage
facility, the Dampier-to-Bunbury Natural Gas Pipeline and the Wheatstone and Macedon gas
processing plants.
The addition of the Perth and Northern Carnarvon basin acreage increases MRL’s total acreage
position in Western Australia to 13,493km2
.
Mineral Resources Managing Director Chris Ellison said:
“The award of the two permits is a great outcome for Mineral Resources and a significant step
towards our target to eliminate diesel from our energy supply chain.”
“The L20-4 block in the Perth Basin adds to our strategic holdings in that region. We look forward to
advancing, in consultation with all stakeholders, our exploration efforts in pursuit of natural gas
supplies to one day power our mining operations.”
“Mineral Resources’ move into the onshore Northern Carnarvon Basin makes sense given the
block’s proximity to our own mining projects as well as existing gas infrastructure. We look forward
to working with Buru to achieving shared success.”
“We are fully committed to achieving Net Zero Emissions before 2050 and believe owning our own
natural gas supply will complement the significant advances we are making in renewable energ

Expand

MIN also own just under 20% of NWE
MIN want to gas to run their mine and lower their emissions and diesel use

NWE Price at posting: 1.8¢ Sentiment: Buy Disclosure: Held
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