PetraGas to Look for Shale Oil, Gas in Tasmania

Petratherm through its wholly owned subsidiary, PetraGas, has applied for a shale oil and gas exploration license in central Tasmania.

This decision by Petratherm to extend into unconventional shale oil and gas exploration leverages our core areas of expertise that include basin geology and deep drilling and our knowledge of the Australian electricity and gas markets, the company said.

The company plans to have a two-way communication process with the key stakeholders and the local community.

The tenement application spans part of the petroleum-bearing Tasmania Basin, which is prospective for both conventional and unconventional oil and gas.

The company’s initial geological assessment indicates shale oil and gas are the most prospective targets with the primary areas of interest. The license straddles the Tasmanian Gas Pipeline which runs between Hobart and eastern mainland Victoria, allowing potential access to major gas markets, the company pointed.