Tri-Star suspends its Petroleum Exploration Licences 122 and 123 within the Arckaringa Basin
May 11, 2018
Tri-Star Petroleum welcomes the government’s decision to accept the company’s application to suspend petroleum exploration licences (PELs) 122 and 123 within the Arckaringa Basin.
Suspending petroleum exploration licences is a routine and common practice proactively employed by oil and gas exploration companies in South Australia, and is permitted under the Petroleum and Geothermal Energy Act 2000.
Each time a company applies to suspend a PEL under the Act they must also indicate a three-month, six-month or 12-month extension to the respective PEL’s expiry date.
Tri-Star Petroleum is committed to engaging key stakeholders about our draft Statement of Objectives (SEO) and Environmental Impact Report (EIR), which detail our proposed activities within the Arckaringa Basin.
Due to Coober Pedy Regional Council’s late response in the engagement and consultation period to accept our offer to share details of our proposed activities with the local Coober Pedy community, we made a decision to apply to suspend PELs 122 and 123 under the Act to provide both the Council and the Coober Pedy community with additional time to fully consider our proposed exploration and fracture stimulation activities as outlined in our SEO and EIR.
Our draft Statement of Objectives and Environmental Impact Report are still currently out for public comment under the provisions of the Petroleum and Geothermal Energy Act 2000.
We will apply to lift our suspension of these PELs prior to undertaking any on-ground operations.
Tri-Star Petroleum applied for a three-month suspension for both PELs 122 and 123 on 4 April 2018, which was approved on 3 May 218.