Energy Club NT - Juniors rejoice over $50M fund for Beetaloo exploration

Home
News
Juniors rejoice over $50M fund for Beetaloo exploration

Juniors rejoice over $50M fund for Beetaloo exploration

18 Dec 2020 2:10 PM | Sonia Harvey (Administrator)

EXPLORERS in the Beetaloo Basin are rejoicing over the federal government’s commitment to underwrite up to A$50 million in exploration work in what is quickly becoming the world’s hottest oil play

The Morrison government yesterday announced it would provide funding to fast-track drilling in the Beetaloo Basin by covering 25% of eligible exploration costs, capped at A$7.5 million per well, and three wells per exploration venture.

The news has been greeted with great enthusiasm from oil and gas explorers in the frontier play.

ASX-listed Empire Energy, which recently drilled its Carpentaria-1 exploration well and hit liquids-rich gas, said the program would be a game changer for its short-term plans.

"Access to this program will allow Empire to expand its 2021 program," Empire Energy CEO Alex Underwood said.

Source: Energy News Bulletin

Add comment

Energy Club NT is an Incorporated Association

The information contained in this website is for general information purposes only. The information is provided by Energy Club NT Inc and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites and files which may not be owned, authored or under the control of Energy Club NT Inc. We have no control over the nature, content and availability of other websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.