The PEL 516 tenement, recently granted to Stuart Petroleum, includes the Allunga Trough and the Mettika Embayment.

Stuart Petroleum said that the gas would likely prove “noticeably less expensive to develop” than deeper sectors of the Cooper Basin.

The Roseneath and Murteree shales within this area are well-developed and at moderate depths, according to Stuart Petroleum.

Such conditions are conducive to the development of high-value high methane gas content and high levels of contained gas-liquids, the company said.

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Stuart Petroleum has previously advised that MHA described its Cooper Basin tenements as having the potential to contain in excess of 20 Tcf of gas in place.