QUARTERLY ACTIVITIES REPORT
FOR THE PERIOD ENDED 31 MARCH 2021
Key activities during the quarter ended 31 March 2021 (“Quarter”) comprised:
• The Vali joint venture was granted ACCC approval in the March quarter to jointly market and sell gas from the Vali field to customers on common terms and conditions including price.
• In February, the ATP2021 JV agreed to a two well drilling program consisting of appraisal well Vali-2 and the Odin-1 exploration well in a combined rig campaign to start in April CY2021.
• A rig contract was agreed with Schlumberger for the SLR184 rig to drill two firm wells + one optional well.
• The Vali-1 ST1 re- completion program is planned for later in the year as a campaign along with the potential completion of the Vali-2 and Odin wells.
• Progressed environmental and safety drilling approval applications to state government authorities with final approvals anticipated in Q2 CY2021.
• A Heritage survey was completed, and approval granted to the access track / drilling pad.
• Progressed rig contract negotiations with Refine Energy and other service providers.
• Drilling now anticipated in Q3 CY2021 subject to government regulatory approvals, rig performance and availability.
• Long lead well consumables ordered late last year and the majority have been delivered to storage in Perth.
• ATP2020 Farm-out process initiated during quarter and several parties are currently reviewing the data room.
• 100% owned prospective resources estimated with recoverable oil and gas reserves Best (P50) 6.4mmbo and 13.1bcf respectively.
Please click on the attached .PDF to view full report and the Quarterly Cashflow Report, Appendix 5B.
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