NSE has been awarded with a new acreage (2,305 sqkm) at northern...

NSE has been awarded with a new acreage (2,305 sqkm) at northern Fitzroy Trough (extends into the Pender Terrace).

It was named as L12-15 before by gov. and is now named as STP-EPA-0092.

It is very interesting that NSE only mentions about it on the page 4 of yesterday's quarterly report but not giving on a new anns.!

"New Acreage
New Standard Energy has increased its acreage position in Western Australia after being awarded a new exploration area in the northern Canning Basin by the Department of Mines and Petroleum following a successful bid submission for acreage release area L12-15. Exploration Permit Application STP-EPA-0092 covers an area of 3,305km2. There are no work requirements for this area until Native
Title and heritage negotiations are initiated and completed."

Isn't this new acreage is market and price sensitive as other players of the region give these kinds of newly awarded acreages on separate anns.!

This acreage is very interesting and it is located in the borders EIA's prospectivity map. It is north of Ungani and Yullero fields of Buru. Most probably a Laurel Play, a kind of tight gas play. There are a good amount of seismic lines on the area and 4 wells drilled inside the permit area with (poor) oil shows at considerably shallow TD for this part of the basin which is quite deep.

You can see the location of STP-EPA-0092 on this map. The red shaded area is EIA's prospectivity borders.