TOOKOONOOKA – ATP 732:
The Tookoonooka Permit (ATP 732 – 100% WI effective January 28, 2016) is located in the emerging East Flank oil fairway of the Cooper Basin. Beach Energy Ltd. (“Beach”) completed the acquisition of 300 km2 3D seismic in Tookoonooka in February 2014 and subsequently relinquished its interest in the permit; Bengal was fully carried for the cost of this seismic program.
The Company made application for the required regulatory relinquishment of 1/3 of the block and filed a revised Later Work Program (LWP) application covering the period March 2017 through March 2019. Among other things, this LWP will allow Bengal to study the Permian gas potential along the northern flank of the permit as well as the largely unexplored oil potential in the southern part of the permit closer to the producing Jackson/Jackson South Field which has produced greater than 49.4 million barrels of oil to date. Regulatory approval of the LWP application was received on May 30, 2017.
The Company plans to seek a Joint Venture partner to further explore this permit.