WHL Energy Updates on Palta Well, Australia

Australian energy company, WHL Energy said that one of the company’s joint venture partners in the Palta prospect in permit WA‐460‐P, has lodged a prospectus with the Australian Securities and Investments Commission.

The prospectus dated 9 November contains an Independent Geological Evaluation report prepared for Cott Oil & Gas Limited by Sablet Pty Ltd.

The Report, commissioned by Cott Oil & Gas Limited, concludes an estimated Mean Prospective Gas Resource on a 100% ownership basis for the Palta prospect of 2.54Tcf.

Mr Steve Noske, Managing Director of WHL Energy said: “WHL Energy wishes Cott Oil & Gas every success with its prospectus and notes that the Palta‐1 well being drilled under contract by Shell was now nearing the half way mark of the estimated 60 day drilling schedule.  

Mr Noske also added that “The new shareholders in Cott Oil & Gas would be joining the industry and other investors as they eagerly awaiting results from drilling at Palta‐1; reportedly to be potentially one of the most expensive wells drilled in Australian waters to date.”

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LNG World News Staff, November 20, 2012; Image: WHL Energy