Tri-Star holds a 100% interest in all operated assets

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Oil and Gas – Australia

Fairfields

Authority to Prospect (ATP) 1079 covers an area of approximately 2,608km² of the Bowen Basin. The Fairfields Project is located approximately 65km east of Rolleston along the Dawson Highway in Central Queensland. The project is focussed on exploring and developing a deeper resource within the Bowen Basin.

The Fairfields Project was awarded $6 million of funding under the Australian Government’s $26 million Gas Acceleration Program. Tri-Star commenced on on-ground activities in 2018 and is currently completing a 4 well drilling program. These wells are the first stage of a planned longer-term development project.

Gilbert Gully

This project was assigned back to Tri-Star by APLNG in 2019 and covers an area of 425 sub-blocks, with more than 50 wells drilled to date. Gilbert Gully is located approximately 18km west of Millmerran.

Arckaringa Basin

Tri-Star’s Arckaringa Project covers approximately 57,731km² of the Arckaringa Basin and is located approximately 800km north west of Adelaide in South Australia. Tri-Star has identified an opportunity to explore for a continuous resource play within the Stuart Range Formation.

Tri-Star’s Statement of Environmental Objectives and Environmental Impact Report for exploration activities with the Arckaringa Basin have been approved by the Department of Energy and Mining and the Department of Environment and Water as compliance under the Petroleum and Geothermal Energy Act 2000, and subsequent field activities continue to be subject to a rigorous regulatory assessment and approval process.

Simpson Basin

The Simpson Project is located approximately 840km north of Adelaide on the South Australia, Northern Territory border. Numerous exploration campaigns have been completed in the area since the early 1960s targeting conventional opportunities within the Poolowanna and Peera Peera Formations. The Poolowanna 1 well-flowed oil to surface on test as well as a small amount of condensate confirming the presence of multiple petroleum systems. Tri-Star is still currently reviewing the acreage to determine its exploration plans.

Pedirka

The Pedirka Basin petroleum assets are located 950km north of Adelaide on both sides of the South Australia/Northern Territory border. Tri-Star has also identified a potentially large mineral province in the Pedirka, which will continue to be explored and defined over the coming years.

South West Queensland / Eromanga

The Eromanga Basin Licences are located to the north and south of Birdsville on both sides of the Queensland/South Australia Border. The project involves exploration for conventional oil and gas opportunities targeting similar plays as the prolific Cooper Basin to the south. Tri-Star is in the initial phase of exploration and is currently planning to undertake on-ground geophysical surveys. Additional opportunity has been identified in the north of the area where the licences overlay the Georgina Basin.

Wolloway

Tri-Star acquired PEL 120 as part of its acquisition of Sapex Energy. The tenure is not prospective for oil and gas and Tri-Star plans to relinquish it following the closing out of minor remaining rehabilitation works.

Oil and Gas – USA

Permian Basin

Tri-Star and its group affiliates have been producing crude oil in the Permian Basin in West Texas since the early 1980s.

As of February 2019, Tri-Star Group companies hold more than 15,000 acres under lease in West Texas. Tri-Star currently operates a number of producing oil wells and has plans for further drilling activities in 2019.