AED acquires Longtom project interest

AED has acquired a 50% interest in the Longtom project (VIC/L29) and surrounding exploration permit (VIC/P54) from Nexus.

Offshore staff

MELBOURNE, Australia -- AED has acquired a 50% interest in the Longtom project (VIC/L29) and surrounding exploration permit (VIC/P54) from Nexus.

Project construction by Nexus is progressing well with first gas and condensate production anticipated to begin in July, the company says.

The Longtom project is in production license VIC/L29 in the Gippsland basin, offshore Victoria (Bass Strait). The field is in approximately 56 m (184 ft) of water and 17 km (11 mi) from existing infrastructure.

The project is being developed as a gas-producing, two subsea well development tied-back to the existing and adjacent Santos-operated Patricia-Baleen facilities.

05/28/2009

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