- BPH Energy Limited (ASX:BPH) has announced the receipt of the Environmental Review Report for the Baleen well.
- BPH investee Advent planning to undertake drilling at the Baleen target located in the PEP11 permit.
- The Environmental Review Design report is currently being evaluated.
Following the receipt of the Basis of Well Design Report early this month, BPH Energy Limited (ASX:BPH) has recently received the Environmental Review Report for the Baleen well in offshore license PEP11.
The report has confirmed the program required to conduct an environmental impact assessment of the proposed Baleen well to support the necessary approvals for drilling.
BPH investee Advent Energy Ltd is planning to undertake drilling at the Baleen target, located in the PEP11 permit. Advent (85%) operates the PEP11 permit, together with Bounty Oil & Gas NL (15%) in a Joint Venture. The PEP11 permit is a high-impact exploration project, which continues to remain one of the most significant untested gas plays in Australia.
Details of Environmental Review Report
The Environmental Review report was facilitated by the already-existing environmental information from the former technical work in the PEP11 permit. The technical work includes the Environmental Plan previously accepted by the authorities for a 2D Seismic survey, which was completed by Advent and Bounty Oil in 2018.
Notably, the report addresses the drilling target on the Baleen prospect, initially identified at a total depth of 2150m on the seismic data line B4-18.
Advent now plans to undertake deeper drilling to carry out an assessment of the Offshore Sydney Basin for carbon capture and storage (carbon sequestration), subject to funding and approvals.
BPH investee’s changed plan to conduct deeper drilling has led to a revised specification of the Baleen well. The new drilling plan intends to target early Permian sandstones for both carbon capture and storage or hydrocarbon potential, with a modified total depth being set at 3150m.
Role of Xodus Group
Following the signing of a Preliminary Well Services Agreement with Add Energy in January 2021, Advent commissioned Xodus Group to carry out a preliminary environmental screening assessment of the proposed Baleen well activity.
A leading global energy environmental consultancy, Xodus Group, holds a strong track record in the Australian offshore sector. They are subject matter experts (SMEs) in environmental impact assessment as well as regulatory approvals.
The objectives of the preliminary environmental impact assessment are stated below:
BPH informed that the Environmental Review Design report is currently being evaluated.
BPH shares traded at AUD 0.085 on 20 April 2021.