Queensland Renews Key Petroleum's Three Permits

Sydney-listed Key Petroleum November 26 said the Queensland government has renewed its three explorations permits in the state for four years.

Key Cooper Basin, a wholly-owned subsidiary of Key Petroleum, has received formal confirmation from the department of natural resources, mines and energy, that ATPs 920, 924 and 783 have all been renewed for four years to 2023, Key Petroleum said.

As part of the agreement, in ATP 920, the company needs to complete geological and geophysical reviews; 80 km magnetic survey (year 3); 200 km 2D seismic survey (year 3); satellite imagery (visible imagery); one well (year 4); and interpretation studies.

In ATP 924, Key needs to complete geological and geophysical reviews; 80 km magnetic survey (year 3); 80 km 2D seismic survey (year 3); satellite imagery (visible imagery); one well (year 4); and interpretation studies.

In ATP 783, the company needs to complete geological and geophysical reviews; 120 km 2D seismic survey (year 3); satellite imagery (visible imagery); and one well (year 4).