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WHL Energy (ASX:WHN) (OTCMKTS:WHLRF) well positioned to feed gas hungry Australian market Economists and energy analysts are forecasting a major gas shortage and an associated leap in gas prices along the east coast of Australia.
This has opened the door for junior oil and gas company WHL Energy to become a potentially important participant in the east coast energy equation through its operatorship of the VIC/P67 exploration permit that includes the La Bella gas field, located in the Otway Basin off the Victorian coast. Discovered in 1993, La Bella sat relatively idle until WHL Energy successfully bid for the surrounding VIC/P67 permit in May 2012.
Since then the company has poured a significant amount of man power into undertaking geological and gas marketing studies, in parallel with a rapidly heating up market looking for new gas supplies. That market need and the fact that La Bella is ideally located close to key pipeline and gas processing infrastructure, proved a significant attraction for successful Australian oil and gas producers AWE Ltd and Tap Oil, which farmed into VIC/P67 in September 2013.
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