North Perth Basin
Petrel extended its Call Option Deed on exploration permit application STP-EPA-012, in the north Perth Basin Western Australia to April 2019.
STP-EPA-0127 which on final grant will be 2.2m acres (8,700 square kms) will be the largest of the exploration permits in the Perth Basin. It is 130 km north of the AWE - Beach Perth Basin Waitsia play which has re-invigorated Perth Basin exploration and development, and is the largest onshore conventional gas discovery in Australia for the last 40 years. AWE Limited recently recommended a takeover from Mitsui & Co valuing AWE at $602m based largely on its 50% interest in the Waitsia gas project in the Perth Basin.