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Tue, 16 August 2011
A Beach Energy and Somerton Energy joint venture has secured permit PEP 171 to target shale gas in the Otway Basin, western Victoria.
PEP 171 is the third Otway tenement acquired by Somerton since 2010 as part of the company’s strategy to explore unconventional sources of oil and gas within the Otway Basin.
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Beach holds a 75 per cent interest in the PEP 171, formerly VIC/0-10(1), while Somerton holds the remaining 25 per cent.
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Image caption: Map of Victoria permits as released by the Victoria Government.
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