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Cooper Energy Ltd. gets drilling permit for eastern Australia
ADELAIDE,[url=http://www.isabelmarantsneakersbootss.com/]isabel marant boots[/url], Australia, Sept. 3 () -- Australian energy company Cooper Energy Ltd. said it secured a five-year drilling permit to start work at two exploration sites in eastern Victoria state.Cooper said the state government gave it a license for two exploration permits in the Sawpit and Casterton areas of the Otway basin in the western part of Victoria."Cooper Energy considers the permits to be prospective for both oil and gas in the Sawpit and Casterton Formations, with a range of conventional and unconventional plays identified," the company said in a statement Tuesday.The company said drilling activity in the reserve areas would follow survey plans outlined for next year.Cooper in its annual report for 2012 said its total oil production for the year was more than 517,000 barrels, a 27 percent increase from the previous year. The company said it was able to secure a stake in Victoria when it acquired rival Somerton Energy in July 2012.The Australian government in June awarded 13 permits in an offshore auction, generating more than $170 million in new investments off Western Australia and Tasmania.