CUE ENERGY Resources will drill an exploration well on its Ironbark gas prospect in April 2018 after the National Offshore Petroleum Titles Administrator (NOPTA) agreed to suspend its work program commitment.
NOPTA agreed to extend Cue Energy’s year three work program commitment over WA 359 P until April 2018, meaning the company must drill one exploration well by that date.
Wholly owned by Cue, WA 359 P contains the 15 trillion cubic feet prospective Ironbark prospect, which the company is currently farming out as it searches for a project development partner.
“The extension of the permit tenure will assist Cue to advance this process,” Cue said.
“Several international oil companies are evaluating the opportunity.”
Ironbark is a giant, Mungaroo Formation prospect with multiple objectives, north of the North Rankin field.