Guys,While we await further results from Allen Dome, I have been...

Guys,
While we await further results from Allen Dome, I have been doing more research on our 100% DR 11 in Perth Basin. Back in November 2012, I emailed Management to get some clarification on Allen Dome re entries and exploration wells and future of DR 11 (remember the permit expiry was 4th Jan 2013).

I received a prompt response from management that clarified the type of permit we have at DR 11, the explanation was

‘’The Department of Mines and Energy issues several different types of permits. In the case of DR11, the type of permit is a Drilling Reservation. The nature of this permit is that on expiry it reverts to Government ownership. However, the drilling reservation includes provision for Titan Energy Ltd to apply for additional rights in the event that it is able to recover sufficient hydrocarbons to surface during a drill stem test with laboratory test confirmation’’

Then came the Ann 7th Jan 2013
*Government approval received for extension to DR11 permit
*Wells to test two conventional targets

So we know that DR 11 permit was extended in Jan 2013, and based on the explanation of ‘Drilling Reservation Permit’ from the Dep of Mines & Energy WA, I believe TTE was ‘able to recover sufficient hydrocarbons to surface during a drill stem test with laboratory test confirmation’’

Now I am excited!


Go TTE - Cheers VoM