Nexus awarded 100% stake in WA-424-P - Australia
This article is extracted from International Oil Letter, Vol 24 issue 46, published 24 November 2008.
Nexus Energy has been awarded exploration permit WA-424-P, in the Browse Basin, offshore Western Australia, a move that is seen as strengthening the company’s position in a rapidly growing gas basin. The license is located on the southern edge of the Browse Basin with proven oil and gas potential and the company plans to test a large stratigraphic play concept targeting Jurassic aged reservoir sands south of the Gwydion field.
The first three years of the work program include geotechnical studies plus one exploration well in year two. It is likely Nexus will seek a partner to reduce its 100% stake in this permit.
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