Octanex is involved in exploration for oil and gas in Australia and New Zealand and is expanding into production activities in SE Asia.
Octanex has an extensive portfolio of Australian and New Zealand offshore petroleum acreage interests and partners with world-class Operators. Supporting its growth strategy, Octanex has acquired an interest in an onshore block with unconventional hydrocarbon prospectivity and is pursuing SE Asian production interests.
MOREOver the past year Octanex has seen considerable activity in its traditional project areas; offshore from Western Australia on the greater North West Shelf, the Southern Bonaparte Basin offshore from Northern Australia and offshore Taranaki Basin, New Zealand.
The past year has been one of marked exploration and commercial success for Octanex. We intend to build on the solid progress made with the Winchester gas discovery and our work directed towards the development of the Cornea oil accumulation.
Octanex holds working interests in 18 petroleum exploration permits, that are predominantly situated in the offshore basins of Australia and New Zealand.
The business maintains a strong financial position with more than sufficient cash resources to pursue current exploration permit obligations. The company continues to strive for the best outcome for its shareholders in all endeavours.
The grant of the Ophir RSC in which Octanex holds a 50% interest is an important milestone for Octanex’s broadened strategy to include the acquisition of near term production assets.
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The grant of Petroleum Retention Lease WA-54-R with respect to the Cornea oil and gas accumulation is an important step on the pathway to the ultimate development of the oil potential of the Cornea resource
MOREReflecting Octanex’s expanding geological and geographical focus, Octanex has opened a Technical and Representative office in Kuala Lumpur, Malaysia. Kuala Lumpur is well located for South East Asian deal-flow, with the region offering numerous petroleum opportunities in prolific hydrocarbon basins, including brownfield opportunities.
MOREThe offshore Browse Basin is located approximately 350km off the coast of Western Australia and is estimated to contain contingent volumes of more than 15 trillion cubic feet of dry gas and more than 400 million barrels of condensate. Octanex has an interest in the Greater Cornea Fields, discovered by Shell in 2001, with significant contingent oil and gas resources.
MOREThe Carnarvon Basin is located both on and offshore Western Australia and has numerous oil and gas fields. Octanex has interests in six exploration permits in Offshore Carnarvon Basin, to date, four of which it has successfully attracted farm-in partners.
MOREThe onshore Canning Basin is located in the central north of Western Australia more than 2,000 km north of Perth. The Canning Basin is estimated to contain 235 trillion cubic feet of natural gas from shale however it is relatively under-explored with most wells in the basin concentrated on conventionally trapped hydrocarbons.
Octanex has an interest in the Derby Block located in the Canning Basin.
MOREThe Taranaki Basin, located offshore New Zealand’s North Island, is currently the only producing basin in New Zealand. A majority of fields contain mainly gas but nearly all fields produce a proportion of oil/condensate. Octanex has a strong exploration position in five contiguous permits in the Taranaki Basin.
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