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PETSEC ENERGY LIMITED

ASX: PSA

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Petsec Energy Ltd is an independent oil and gas exploration and production company listed on the Australian Stock Exchange with operations in the shallow waters of the Gulf of Mexico and onshore Texas and Louisiana, USA, and in the Republic of Yemen.

Producing Leases - USA

Petsec Energy has been active in the USA since 1989 and has explored offshore in the Gulf of Mexico and onshore in Louisiana, Texas, California, Utah, Colorado, Wyoming, Montana and North Dakota. In the period through 2014, Petsec has drilled approximately 100 wells in the USA and enjoyed a high exploration success rate.

Producing Leases - Yemen

In 2014, the Company acquired a 29.75% interest in the Block 7, Al Barqa Permit in the Republic of Yemen. Block 7 is an onshore exploration permit covering an area of approximately 5,000 square kilometres located approximately 340 kilometres East of Sana’a the capital of Yemen. The block is operated by Australian listed company Oil Search and contains the Al Meashar oil discovery as well as an inventory defined by 2D and 3D seismic surveys with significant oil potential.

Shale Oil

Petsec Energy embarked upon an onshore shale oil strategy during 2011, to acquire a sizeable leasehold in new and emerging shale basins. Strategic alliances were established with experienced shale players, and detailed studies of a number of prospective plays were undertaken, which resulted in areas of interest where “sweetspot” areas were defined.

In 2012/2013 , the Company participated in the drilling of a well in each of two shale oil joint venture projects in the Western Canadian Sedimentary Basin of Alberta, Canada. Activity to date has earned Petsec an average 25% working interest in 11,360 acres (2,827 acres).

Mine For

oil, gas

Location of operation(s)

USA, Mexico, Yemen

Address

Level 13 , Goldfields House , 1 Alfred Street
SYDNEY, NSW, AUSTRALIA

Phone

(02) 9247 4605

Email

Website


Last Updated

25/3/2015

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.