IPB Petroleum Limited (“IPB” or the “Company”) is pleased to advise that the Commonwealth-Western Australia Offshore Petroleum Joint Authority has granted a nine (9) month suspension and extension to the Primary Term work programme for Permit WA- 424-P (IPB 75%, CalEnergy 25%* and Operator).
After securing of the Stena-Clyde floating drill rig for the drilling of the Pryderi-1 well, the WA-424-P Joint Venture sought and has now been granted a nine (9) month suspension of the Permit’s Primary Term end date from 12 July 2014 to 12 April 2015. The Joint Authority has also granted a corresponding extension for the Permits Secondary Work Programme.
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