Australia's Top End Energy signs agreement for NT permit
Sydney-listed Top End Energy on June 13 announced the successful execution of the agreement for exploration permit (EP) 258 in the McArthur basin, Northern Territory. This paves the way for the formal grant of the permit.
The key highlight of the agreement includes the execution of an agreement between Top End Energy and the native title holders of EP 258. The formal grant of the permit would mark the first EP to be granted in the Northern Territory since 2015.
Subject to final approval from the Northern Territory government, Top End Energy anticipates that the formal grant of EP 258 will occur in the coming weeks.
According to the company website, Top End will pursue opportunities to deliver gas to meet domestic demand while exploring clean energy opportunities. Its existing portfolio will consist of a granted permit in Queensland and 30 exploration permit applications across the Northern Territory.
The company will hold a 100% interest in a granted hydrocarbon permit ATP 1069 in Queensland. The grant is pending approval from the minister for resources for the transfer of ATP 1069 from Tri-Star.
Related Knowledge Center: ENERGY BASICS: fossil fuels
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