Wooooo Hooooo Go BPH :)$$$$$$, page-29059

• Advent Energy proposes to drill a gas exploration well, Sea Blue-1, in the offshore Sydney Basin in 2022
• It will also use the well to evaluate the CCS potential of the basin
• The exploration lease (PEP 11) is located close to the Newcastle-Hunter region
• Sydney-Newcastle- Hunter region is the NSW population-industrial-emission heartland
• If NSW is to meet its target of NET Zero by 2050 and maintain an industrial base, CCS will be a key technology option
• The offshore Sydney Basin has storage potential but has never been definitely evaluated due to lack of well data
• Sea Blue- 1 will provide the opportunity to cost-effectively assess CO2 storage potential.
• Confirmation of offshore geological storage potential would be a game changer for NSW and its NZE target