Decision on Australian Sole Gas Project Financing Soon

Australian Cooper Energy is expected to make a decision on its preferred source of debt funding for the Sole gas project within the month of August, company managing director David Maxwell said July 17.

The company is pursuing a dual stream process to identify and secure the optimal financing for the Sole gas project. 

It continues the engagement with the senior bank market it commenced some months earlier and remains engaged with international capital markets, aimed at assessing the availability and suitability of finance from the issue of senior secured bonds, it said. 

“The timelines associated with our financing process remain consistent with our timeline for first gas from the Sole project,” Maxwell said.

The Sole gas project involves the development of the Sole field in the Gippsland Basin, offshore Victoria to supply approximately 25 PJ/yr of gas from 2019. Cooper is the 100% interest holder in Sole.

Shardul Sharma