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ARTICLE · 10 OCTOBER 2013

Energy sector update: October 2013 edition

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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Corrs Chambers Westgarth

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This is a summary of recent announcements, completed deals, market rumours and opportunities, and regulatory updates.

AustraliaEnergy and Natural Resources
Michael MacGinley
Michael MacGinley
Bruce Adkins
Bruce Adkins
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Introduction

Welcome to the October 2013 edition of the Australian Energy Sector Update, a monthly publication prepared by Corrs Chambers Westgarth for clients who are interested in the Australian energy industry.

This publication brings together a brief summary of information on recently completed deals, market rumours and potential opportunities, and relevant regulatory updates.

Recent announcements

ASX-listed Cooper Energy announced on 3 September 2013 that it has been granted two new exploration permits by the Victorian Government. Cooper Energy's wholly owned subsidiary Somerton Energy will hold a 20% interest in PEP 150 and a 25% interest in PEP 171. Initial activity consisting of the acquisition of 3D and 2D seismic in the permits is anticipated to commence in 2014, with exploration drilling expected to follow. ASX-listed Beach Energy holds the remaining 75% interest in PEP 171, while PEP 150 is also held by Beach Energy (with a 50% interest), Bass

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