Cooper Energy awarded offshore permit in Gippsland Basin

Company News

by Rachael Jones

Cooper Energy (ASX:COE) has been awarded the offshore exploration permit VIC/P75 in the Gippsland Basin, off Victoria.

This is in the central area of the Gippsland Basin surrounded by major oil and gas fields including the Marlin, Snapper and Barracouta gas fields to the north and the Kingfish and Fortescue oil fields in the south and east.

Cooper Energy Managing Director David Maxwell said the new permit added to the Gippsland Basin position being built by the company.

He said: “The Gippsland Basin is the major gas-producing region in southeast Australia and presents as a competitive supply source for new developments".

Shares in Cooper Energy (ASX:COE) opened flat at $0.57.
 

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.