The lifting of the fracking ban is very hopeful news for NWE....

The lifting of the fracking ban is very hopeful news for NWE. EP413 appears to have some very promising results. EP413 is a petroleum exploration permit, so on the face of it, EP413 should be one of the sites where the moratorium is lifted. 

The statement from McGowan says: 

"The State Government will only lift the fracking moratorium on existing onshore petroleum titles following an independent scientific inquiry finding the risk to people and the environment is low."

I note that the statement also states: 

• Fracking will not be permitted over 98 per cent of Western Australia
• Fracking moratorium will only be lifted on existing petroleum titles, after independent scientific inquiry finds risk is low
• Existing ban over South-West, Peel and Perth metropolitan region to continue
• National parks, Dampier Peninsula and public water source areas also declared off limits
• Consent by traditional owners and farmers required before fracking production is allowed
• Fracking royalties to fund new renewable energy projects

I don't know whether EP413 is near any public water sources (though I note there is reference to no evidence of contamination of aquifers in the Perth Basin in this AWE document: http://www.parliament.wa.gov.au/Parliament/commit.nsf/(Evidence+Lookup+by+Com+ID)/34B73EFE0365812B48257C4000115456/$file/ev.fra.131007.sub.113.awe+limited.pdf). 

I imagine in relation to the other matters we are alright. We would already have traditional owner and farmer approval if needed, and we are also not within a national park (though EP413 does intersect with the Beekeeper Nature Reserve). 

Accordingly, the limited lifting of the moratorium provides further opportunity to develop what was a promising site where we have already done extensive exploration including seismic. I note that in the Final Year Report in 2017 mention was made of all the JV partners being committed to developing the well. Look forward to seeing if we get an announcement.