Please note that DING MING is still very much active in Chinese Funding Circles for possible J/V's or buyouts in the Energy sector.
MMR and Advent have formed an alliance on a number of fronts in this field around Australia.
I would bet that Advent will bulk up their holding in CTP shortly. Question is why JH would stuff around with BG if they are playing hardball. The LS future funding answer could lie within.China has huge reserves in their Sovereign sovereign fund.
Something to think about..no doubt. Love to hear your comments all.
Advent Energy was formed in 2004 and is an unlisted oil and gas exploration and production company based in Perth, Western Australia. Advent has assembled an attractive portfolio of assets both on and offshore Australia that have had an estimated $126 million spent on historic exploration. All permits are located next to a ready market and/or excellent infrastructure, thereby maximising Advent’s ability to optimise any resources. Included in the portfolio is: • Petroleum Exploration Permit 11 in the offshore Sydney Basin. This permit has been assessed to contain up to 16.3 Tcf prospective recoverable resources that lie within 50km of the major population region of Sydney and excellent port and power generation infrastructure. • Carnarvon Basin (permit EP325) where supply of gas from the Rivoli gas field to the Australian Government naval facility at Exmouth is anticipated. • Retention Lease 1, and Exploration Permit 386, in the Bonaparte Basin. Discussions with Argyle Diamonds regarding supply of gas/energy are continuing. • A JV led by Victoria Petroleum will allow Advent to earn 50% in the Catalina block in Petroleum Exploration Licence 111. This block is nestled amongst numerous oil and gas fields in the Cooper Basin in South Australia. Advent has a strong board with exceptional links to Chinese oil business. • Mr David Breeze - Executive Director: A professional company director with extensive experience in transaction structuring, corporate advisory and funding for listed and unlisted companies. • Mr Ding Gui Ming: Geology Advisory Panel Chair, a former Chinese Government Vice Minister. He previously held the positions of President of Daqing Oil and Head of Exploration for the China National Petroleum Company (CNPC), where he directed the exploration activity of more than 20 oilfields in China. Mr Ding last served as Commissioner of the China State Asset Administration Office, where he reported directly to the Prime Minister’s office and supervised the reform of major Chinese state enterprises. • Mr Goh Hock - Chairman: Former President of Schlumberger Asia and then a Global Divisional President of Schlumberger during a 25 year career in the oil and gas industry spanning more than ten countries in Asia, the Middle East and Europe. • Mr Seng Yap: A professional company director who was formerly Executive Director of Daiwa Securities Australia Ltd who, during his career with Schlumberger Ltd, worked in international oil and gas exploration projects across Asia, Australia and New Zealand. • Mr Eng Hin Tan: A private investor who previously worked with Schlumberger Oilfield Services in India, Brunei, Indonesia and Malaysia
the appointment of Mr Ding Gui Ming, the former head of one of the world's largest oil producers, as a senior member of the Advisory Panel. Mr Ding is a former senior Chinese Government Ministerial official with significant networks at the highest level in China. He was the former Head of Exploration for the China National Petroleum Company (CNPC), where he directed the exploration activity of more than 20 oilfields all over China. Mr Ding last served as Commissioner of the China State Asset Administration Office, where he reported directly to the Prime Minister's office and supervised the reform of major Chinese state enterprises. CNPC recently announced USD 86 billion in revenue. In addition to being President of the Daqing Oilfield, one of the largest and most profitable enterprises in China, Mr Ding has had 34 years of extensive, successful oilfield experience. Strategic interest in Central Petroleum Ltd
IMPORTANT BIT HERE
Advent has acquired a strategic shareholding in Australian onshore hydrocarbon explorer Central Petroleum (ASX: CTP). Central Petroleum Ltd (Central) is one of Australia's largest net onshore acreage holders with permits spanning more than 260,000 square kilometres. Since 1998, Central has undertaken a highly focused strategy to secure acreage within the areas it considers to be the most prospective for oil and gas within central Australia. Central believes that the oil and gas potential of central Australia has been significantly overlooked and the area remains one of the true under-explored and under-developed proven petroleum provinces within Australia
Strategic interest in Central Petroleum Ltd
Advent has acquired a strategic shareholding in Australian onshore hydrocarbon explorer Central Petroleum (ASX: CTP). Central Petroleum Ltd (Central) is one of Australia's largest net onshore acreage holders with permits spanning more than 260,000 square kilometres. Since 1998, Central has undertaken a highly focused strategy to secure acreage within the areas it considers to be the most prospective for oil and gas within central Australia. Central believes that the oil and gas potential of central Australia has been significantly overlooked and the area remains one of the true under-explored and under-developed proven petroleum provinces within Australia.
From ASX: CTP announcement 18 May 2009:
Central Petroleum Limited, (CTP) plans a robust exploration programme commencing in the second half of 2009 to build upon the successes of its 2008 programme which resulted in the publication of an independent report that has estimated a coal "Exploration Target" potential of between 0.6-1.3 trillion tonnes above 1,000m (refer ASX:CTP announcement 19 February 2009) in CTP's operated areas in the Pedirka Basin. Drilling in 2008 resulted in net Permian coal in two wells over 50 km apart in excess of 100m with some individual seams approaching 40m in thickness; these results have obviously positive implications for Coal Seam Gas (CSG) and Underground Coal Gasification (UCG) exploration. A second result of the 2008 programme was the reporting of substantial residual oil columns in both the Blamore 1 and Simpson 1 wells, providing a sound rationale for further oil exploration in the area. 2007 and 2008 seismic acquisition, processing and analysis has resulted in the better definition of four substantial conventionally reservoired targets in the Amadeus Basin, the 300 MMbbl Johnstone oil prospect in EP115, the 2 TCFG Ooraminna gas prospect in EP82 (which has flowed gas to surface in 1963), the 0.8 TCFG Magee prospect in EP82 (which has flowed gas, condensate and Helium to surface in 1992 and has 15 BCFG Helium potential) and the giant 3 TCFG Mt Kitty prospect of over 400 km2 area which has up to 185 BCFG Helium potential. Conditional upon Joint Venture approval at OPCOM meetings planned by the end of June 2009 as well as various other contingencies inclusive of funding, crews and equipment, CTP plans the following programme for 2009 to commence as soon as possible but probably by late August, early September 2009: 1. Three to four conventional wells (Amadeus Basin): • Johnstone-1: oil, Mereenie style, primary porosity in sandstones as well as fractured sandstones • Ooraminna-2: gas, fractured carbonates and sandstones, already flowed gas to surface • Magee-2: gas, condensate, Helium, already flowed gas to surface, subsalt • Optional Mt Kitty 1: gas, condensate, Helium, 430 km2 subsalt
2. Five to ten fully cored CSG wells (Pedirka Basin) • Five fully cored CSG wells- a further five fully cored CSG wells as an option or follow up fraccing and flow testing • Flow testing of CBM93001, drilled in the 2008 campaign
3. 2D seismic in the Amadeus and Pedirka Basins • 1,250 line km • Targeting both regional and prospect definition targets for oil, gas, condensate and helium
4. Cost • $22-44 million with c. 40-60% anticipated to be provided by JV partners • $22 million anticipated costs of three conventional wells plus five fully cored CSG wells with CTP's anticipated contribution being c.$14 million • $44 million anticipated costs of four conventional wells, 10 fully cored CSG wells and 1,250 km of 2D seismic. The Company has built up considerable operational experience in central Australia and anticipates that various elements of the exploration programme proposed can be carried out over the wet season. In particular, a light weight drilling rig proposed to be used in the Pedirka Basin for CSG appraisal in the Simpson Desert area, (annual average rainfall of less than 150mm or 6 inches) has logistic requirements significantly less demanding than a conventional oil rig. Seismic exploration early in 2008 was interrupted for only three days during record breaking rains in the area around the Ooraminna prospect.
There was a pretty map of OZ with Advent's and CTP's reources detailed ...but the bloody thing wont paste in!!!
never mind..food for discussion at least.
Cheers
HR
Must buy in early next week.
CTP Price at posting:
12.8¢ Sentiment: Buy Disclosure: Not Held
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