Yes to be more specific oil exploration leases have a work...

Yes to be more specific oil exploration leases have a work program and usually have to drill a well by year 4 or 5 or
what ever the terms are normally . Emp / obl have had a terrible history and that will not help any new applications in a competitive bid.

We all saw what has happened to bph. It wasn't just political they may there history was already terrible on work program. There have been quite a number of oil and gas leases not renewed. You can't keep get a release renewal if you can't afford it and can't find a partner.

they have had a very long time to apply for more leases and they have not last time i checked victorian leases release and tender. There may be some since or in other states , but i have not seen any specific announcements saying new leases applied for or granted.

I do see some potenial upside very limited until drilling or partner news