Advent gets approval to drill off Australia

The NSW Department of Industry & Investment has approved Advent Energy to drill the Seaclem-1 offshore Newcastle.

Offshore staff

NORTH PERTH, Western Australia – The NSW Department of Industry & Investment has approved Advent Energy to drill the Seaclem-1 offshore Newcastle.

The Well Operations Management Plan of Advent’s subsidiary Asset Energy call for drilling in PEP 11 off New South Wales 55 km (34 mi) offshore. The exploration well targets the Great White and Marlin stratigraphic prospects.

Upon completion, Advent’s interest in PEP 11 goes from 25% to 85%. Bounty Oil and Gas, free-carried through drilling, will reduce its interest from 75% to 15%.

11/16/2010

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