WHL Energy offered 2010 Gazettal Round Acreage W1025 Highlights WHL Energy positioned to expand its portfolio following offer of gazettal round acreage W1025 Acreage area interpreted to encompass 20% of the 13.3tcf Palta prospect in neighbouring WA384P acreage operated by Shell Shell expected to drill the Palta1 well in late 2011 / early 2012 Australian energy company WHL Energy Limited ( WHN) (WHL Energy or the Company) is pleased to advise that the Company, as part of a consortium in which it holds a 33.33% interest, has been offered by the CommonwealthWestern Australian Joint Authority, block W1025 (W1025), from the 2010 Australia Offshore Petroleum Exploration Acreage Release. The offer for the gazettal round acreage W1025 was secured on the basis of a relatively low cost seismic bid. Release area W1025 is located 70 km west of Cape Range and lies adjacent to the Shell exploration permit WA384P in which the Palta1 well is planned to be drilled. W1025 is interpreted to cover in the order of 20% (2.5 tcf) of the 13.3 tcf Palta prospect that straddles exploration license WA384P in which Shell holds a 100% interest. Shell has recently received approval to drill the Palta1 exploration well in WA384P with drilling expected to commence in late 2011 / early 2012.
If the offer is accepted, this will provide WHL Energy shareholders with exposure to a high impact near term exploration well. Commenting on the Companys success in securing W1025, WHL Energys Managing Director, Mr Steve Noske stated, Its particularly pleasing to be offered acreage in the Australian government gazettal round as it verifies the Companys bone fides for opportunities through future gazettal rounds. WHL Energy intends to maintain a watch for opportunities that gives the Company exposure to drilling or provide a line of sight path to production. WHL Energys long term growth strategy includes diversifying the historical assets of the Company and leveraging off the Companys deep knowledge of the global oil and gas industry. The offer of this exploration license, which was applied for in May 2011, highlights the ability of WHL Energys management and technical team to achieve this goal. FURTHER INFORMATION Shareholders/Investors Media contact Steve Noske Colin Hay WHL Energy Ltd Professional Public Relations T 61 8 6500 0271 T 61 8 9388 0944 E snoskewhlenergy.com E colin.hayppr.com.au About WHL Energy Limited ASXlisted WHL Energy Ltd ( WHN) is an oil and gas exploration company. The Companys flagship project is its very large offshore Seychelles oil and gas exploration interests.
This 21,426km2 exploration holding is considered prospective for potentially very large hydrocarbon targets, and WHL Energy is currently undertaking further work to gain a higher understanding of that potential as it progresses the Seychelles oil and gas assets towards farmout and drilling. Independent studies have confirmed the potential of 15 leads across 4 different plays in WHL Energys Seychelles exploration holdings and estimated that these leads typically have the potential to contain mean Prospective Resources of several hundred of million barrels..
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2010 Australian Gazettal Round Acreage Offer