New offshore permit for Cooper Energy | Finance News Network

New offshore permit for Cooper Energy

Company News

by Rachael Jones

Cooper Energy (ASX:COE) has been awarded an offshore exploration permit located in the Gippsland Basin, offshore Victoria.

The VIC/P72 permit adjoins the company’s VIC/L21 licence which holds the depleted Patricia-Baleen gas field and its associated subsea production infrastructure.

The exploration permit is located in close proximity to several Esso-operated gas and oil fields.

Cooper Energy Managing Director David Maxwell said it is an attractive and logical addition to the company’s gas exploration portfolio.

The permit has been awarded to Cooper Energy for a six-year term, of which the first three years is a guaranteed work program.

Shares in Cooper Energy (ASX:COE) are up 1.35 per cent to $0.38. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.