Blue Energy Secures Queensland Shale Gas, Oil Acreage

Blue Energy has secured four exploration blocks in the state of Queensland which have potential for shale gas and oil. The permits cover a total of 31,280 square kilometres.

Three large exploration blocks in the Queensland sector of the Georgina Basin cover an area of 22,788 square kilometres while the fourth block in Carpentaria Basin in northern Queensland covers an area of 8,490 square kilometres.

Native Title Agreements and Environmental Authorities will be required before the permits can be granted by the Queensland government, and Blue Energy intends to commence the processes for obtaining these as soon as possible to facilitate award.

The company said securing such a large acreage position would allow it to take advantage of the high demand by global energy players for unconventional hydrocarbon acreage.