The development of the Australian shale gas industry is accelerating rapidly and with a large footprint over the country’s most prospective onshore basins; the Canning, Cooper and Carnarvon Basins, New Standard is strategically positioned to remain at the forefront of this development.
All its Australian projects, while at an early stage, are highly prospective for large, strategic onshore hydrocarbon resources which New Standard intends to develop alongside joint venture partners and supported by strategic alliance partner Magnum Hunter.
New Standard has been focussed on continuing to develop an understanding of the geological environments, while progressing its Australian shale gas and tight gas portfolio with a view to strategically position the Company at the forefront of this emerging sector.
New Standard remains ideally positioned in a rapidly emerging sector in the oil and gas industry in Australia with large equity positions in technically attractive projects providing the opportunity to effectively progress exploration on its portfolio of assets in the coming twelve months.
New Standard has also negotiated and established good working relationships and partnerships in Australia, providing the ability to access relevant technical skills, expertise and experience as well as significant financial resources to assist with progressing its exploration efforts efficiently.
The Company is well positioned to extract value from within the current exploration portfolio and will continue to assess and progress other opportunities on an ongoing basis in an effort to further enhance the potential for ongoing New Standard shareholder wealth creation.
New Standard Energy’s acreage portfolio:
The following table provides an overview of the Company’s exploration portfolio holdings at 19 March 2014:
|Australian Oil & Gas Exploration||Type||Interest||Operator||Joint Venture|
|Cooper Basin, South Australia|
|PEL 570||Licence area||52.5%||Santos Limited||Santos Limited
Drillsearch Energy Limited
|Canning Basin, Western Australia|
|EP 417||Exploration permit||100%||New Standard Onshore Pty Ltd||-|
|STP-SPA-0017||Special Prospecting||100%||New Standard Onshore Pty Ltd||-|
|EP 443||Exploration permit||100%||New Standard Onshore Pty Ltd||-|
|EP 450||Exploration permit||100%||New Standard Onshore Pty Ltd||-|
|EP 451||Exploration permit||100%||New Standard Onshore Pty Ltd||-|
|EP 456||Exploration permit||100%||New Standard Onshore Pty Ltd||-|
|STP-EPA-006||Application area||100%||New Standard Onshore Pty Ltd||-|
|STP-EPA-007||Application area||100%||New Standard Onshore Pty Ltd||-|
|STP-EPA-010||Application area||100%||New Standard Onshore Pty Ltd||-|
|STP-EPA-0092||Application area||100%||New Standard Onshore Pty Ltd||-|
|Carnarvon Basin, Western Australia|
|EP 481||Exploration permit||100%||New Standard Onshore Pty Ltd||-|
|EP 482||Exploration permit||100%||New Standard Onshore Pty Ltd||-|