Offshore staff
(GoM, US) - Australian junior exploration company Petsec Energy Ltd. is confident of winning four Central Gulf of Mexico leases, having submitted the highest bids totalling $2.51 million on March 15 during auction conducted by the Minerals Management Service (MMS) in New Orleans.
It said the awards of the leases from the Central Gulf of Mexico Sales 198 would be subject to MMS approvals.
It had submitted bids for Main Pass 7, Main Pass 91, Vermilion 41, and Vermilion 148, all of which had previously produced oil and gas.
The new leases are located immediately to the north of Petsec Energy's recent oil and gas discovery on the Main Pass 18 lease.
The Vermilion leases are approximately 35 mi and 65 mi to the north of the company's Vermilion 258 gas field.
Petsec Energy would have a 100% working interest, or 83.33% net revenue interest, in the leases.
03/17/06
