Pep11 TakeawayPEP11 is NSW & Victoria’s potentially best path to...

Pep11 Takeaway

PEP11 is NSW & Victoria’s potentially best path to NET ZERO. PEP11 is a license to explore for gas issued by the Commonwealth Government with a proposed drill site 26k’s off the Southern Newcastle Coast. Exploration for gas under the permit is regulated by two Commonwealth Government Departments, NOPTA and NOPSEMA. The permit is located off the NSW coast but in Commonwealth Waters.

The PEP-11 permit is operated by Asset Energy P/L and Bounty Oil and Gas NL. Asset Energy is a wholly owned subsidiary of Advent Energy P/L.

The four main owners of the PEP-11 Gas project are:

• BPH Energy (ASX BPH) 30%
• MEC Resources (ASX MMR) 32%
• Bounty Oil and Gas (ASX BUY) 15%
• Grandbridge Securities Australia (private) 7.3%

All companies associated with the PEP-11 gas project are Australian owned. Australian “Mum and Dad” investors own approx. 90% of these companies. The majority of shareholders in PEP-11 companies reside in NSW.

Asset Energy has previously drilled one exploration well in the permit, offshore from Newcastle, in 2010. Although the well did not find any gas on that occasion, it was drilled safely, and with no impact on the environment.
https://pep11.com.au/


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