4 April 2013
Hydra Energy Holdings Pty Ltd (‘Hydra Energy’) is pleased to announce that its wholly owned subsidiary Hydra Energy (WA) Pty Ltd (‘Hydra WA’) has recently acquired interests in fifteen Petroleum Titles in the Carnarvon Basin, offshore Western Australia.
The Petroleum Titles comprise:
Overall the Petroleum Titles contain fourteen undeveloped discoveries, nine oil and five gas which includes operatorship of the interests in Corowa, Sage, Tusk, Okapi, Chamois, Gungurru, Brocket and Oryx oil discoveries. All operated assets are in water depths ranging from 40m to 85m. A listing of the Leases, Licences and Permits and a location map are included below.
Hydra WA will be Operator for seven of the Petroleum Titles which it has acquired and has commenced preliminary development planning for the aggregate development of the oil discoveries.
|Petroleum Title||Licence / Lease / Permit Number||Field / Discovery||Hydra WA Equity %||Oil / Gas|
|Retention Lease||WA-38-R||Brocket and Oryx||100^||Oil|
|Exploration Permit||WA-209-P (Block 171)||Okapi||100^*||Oil|
|Exploration Permit||WA-202-P||Gungurru and Cherring||100^||Oil/Gas|
|Exploration Permit||TP/7||Taunton Extension, South Chervil, Cadell||4.157||Oil/Gas|
|Production Licence||PL14, TPL/3, TPL/4, TPL/7||Taunton Area Pipelines||23.166||Oil|
^ Hydra WA Operator
*WA-209-P Okapi block transaction is subject to Government approvals
Hydra Energy is a specialist, small-field development company that is focused on undeveloped discoveries and late-life assets in Australia and South East Asia. The close proximity of the fields and similar reservoir and production characteristics will enable Hydra Energy to leverage its development concept to achieve synergies and economic returns in the fields it will be developing.
Paul Nimmo, Chief Executive Officer of Hydra Energy said,
“We are delighted to have been able to put together this portfolio of assets that is a perfect fit with our business plan. In the near term, we will be executing our development approach to bring oil discoveries into production.”
Hydra Energy is backed by Barclays Natural Resource Investments (‘BNRI’), a division of the Investment Bank of Barclays Bank PLC.
Meb Somani, Head of Oil & Gas Investments at BNRI said,
“We look forward to working with the Hydra Energy management team in the development of this portfolio.”
For further information please contact:
Chief Executive Officer
Hydra Energy Holdings Pty Ltd
+61 8 9324 2526 or +61 2 9906 2233
About Hydra Energy (www.hydraenergy.com.au)
Hydra Energy is an oil development and production company focused on offshore petroleum assets across Australia and South East Asia. The company looks to exploit opportunities in undeveloped and small oil field discoveries, which have proven resource, but which remain undeveloped for a variety of reasons. Hydra Energy has a wealth of experience in the upstream oil and gas industry. It brings together expertise and applies this to appraisal and field development. It is a solution-orientated company that aims to deliver maximum value from any discovery, combined with a specialisation in commercialising small-field developments.
About Barclays Natural Resource Investments (www.bnri.com)
Barclays Natural Resource Investments, a division of the Investment Bank of Barclays Bank PLC, (‘BNRI’) (www.bnri.com) is a financial investor and the majority shareholder, alongside the management team, i n Hydra Energy, which is the sole shareholder of Hydra WA.
BNRI was founded in 2006 and has committed over US$2 billion to more than 20 portfolio companies globally. Typically, BNRI commits US$50-200 million to each portfolio company to fund the execution of its business plan.
BNRI has made an equity commitment to Hydra Energy to provide the necessary equity financing to fund the business plan of Hydra Energy and its subsidiaries.
© Copyright 2013