WHL Energy to Develop Gas Block Offshore Victoria

WHL Energy has announced it has accepted an offer to develop Block V11-2 under the 2011 Australian Acreage Release.

Block V11-2 lies in the offshore Otway Basin, approximately 200 km off the Victorian coastline and contains s the La Bella gas field and several offset gas prospects and leads. WHL Energy will hold 100% equity in the block.

“The Company believes it will be able to immediately book a 2C contingent resource of 158 PJ of gas and 1.2 mmbbls of condensate. Internal planning anticipates first commercial production  is possible by early 2016,” managing director Steve Noske said.

Revenue from a La Bella development would help fund the company’s African growth, which currently revolves around exploration in the Seychelles.