Don't be too quick to ignore this ASX Ann' re Director Peter Wasow.
His initial interest was nil when he was appointed as a director 6 weeks ago on 19-3-18, so he had missed the $7.70 Rights Issue about 2 months ago; in early March?
Here he has bought 15,000 shares on 1st May @ an $8.39 average = $125,844.00 which from my experience is worth noting. DYOR
DYOR, however this article below re the Longtom gasfield from the AFR last year may be of interest remembering APA Group is currently upgrading the Orbost Gas Processing Plant, which APA now owns, to accommodate the gas from Cooper Energy's Sole gasfield which APA Group has a contract to process and transport.
Cooper Energy is currently drilling the Sole-3 well in the Sole gasfield which is close by in the offshore Gippsland Basin.
- Mar 12 2017 at 11:00 PM
- Updated Mar 12 2017 at 11:00 PM
SGH Energy CEO Margaret Hall sees Longtom gas as part of solution for east coast
http://www.copyright link/content/dam/images/g/u/r/v/d/b/image.related.afrArticleLead.620x350.guvogs.png/1489314395533.jpg "Buyers are knocking on the door on a weekly basis asking when they can get hold of gas," Seven Group's energy chief executive Margaret Hall says. Steven Siewert
Margaret Hall has her hands on what is a scarce and highly prized resource: some rapidly available gas in today's tight east coast market.
The chief executive of Seven Group Holdings' energy business says the company's mothballed Longtom field in the Bass Strait is ready to flow gas again, as soon as new commercial deals can be struck for pipeline and processing capacity.
Read more: http://www.copyright link/business/energy/gas/sgh-energy-ceo-margaret-hall-sees-longtom-gas-as-part-of-solution-for-east-coast-20170310-guvogs#ixzz5EUcECf6j
Also today Cooper Energy has been awarded a new permit by the Vic. gov't, VIC/P72, which is adjacent to and half-surrounds the Longtom gasfield permit owned by SGH Energy which is a subsidiary of SGH Seven Group Holdings [ASX:SVW] whose SP has been on a stellar climb all through this financial year which is partly [but in no way wholly] because of its 25.6% holding in Beach Energy which now has extensive interests in the Otway Basin gasfields which are connected to the APA owned and operated SEA gas pipeline.
COE Ann
ASX Announcement / Media Release
4 May 2018
Awarded Gippsland Basin offshore exploration permit VIC/P72
• New exploration permit adjacent to several gas and oil fields
• Adjoins Patricia Baleen production licence and adjacent to gas production infrastructure
• Permit covered by quality 3D seismic data
Cooper Energy (ASX: COE) announces it has been awarded the offshore exploration permit VIC/P72 located in the Gippsland Basin, offshore Victoria.
VIC/P72 (refer location map following page) adjoins the company’s VIC/L21 licence which holds the depleted Patricia-Baleen gas field and its associated subsea production infrastructure. The exploration permit is located in close proximity to several Esso-operated gas and oil fields including Snapper, Marlin, Sunfish and Sweetlips and the Longtom gas field operated by SGH Energy.
Cooper Energy Managing Director David Maxwell said VIC/P72 is an attractive and logical addition to the company’s gas exploration portfolio on a number of counts.
"From a technical perspective, the permit is located in a proven gas and oil province, is surrounded by producing fields, is covered by high quality 3D seismic data and has identified prospects.
"From a commercial perspective, the permit is very competitively located, being close to market and the company’s gas production infrastructure at Patricia Baleen which is connected to the Orbost Gas Processing Plant. The offshore Gippsland Basin is a key supply source for south-east Australian gas demand and we expect that discoveries in VIC/P72 will have excellent prospects for rapid commercialisation through the company’s existing infrastructure".
Mr Maxwell said VIC/P72 fitted neatly within the company’s gas strategy and Gippsland gas hub. "The new exploration opportunity complements our existing project construction at Sole and the work we are doing to mature Manta as the next Gippsland Basin development. It clearly satisfied our screening criteria for likely competitiveness, foreseeable development pathway and capacity to add value".
The permit has been awarded to Cooper Energy for a six-year term, of which the first three years is a guaranteed work program consisting of 260 km2 of 3D seismic reprocessing and studies and the drilling of one exploration well. Cooper Energy has 100% equity in VIC/P72 and will assess involvement of joint venture partners according to value and risk management considerations.
Figure 1: VIC /P72 and other Cooper Energy Gippsland Basin permits
(20min delay)
