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Blue Energy Ltd.’s wholly owned subsidiary, Eureka Petroleum Pty Ltd., has secured three large exploration blocks in the Queensland sector of the Georgina Basin, Australia, together with a fourth exploration block in the Carpentaria Basin in northern Queensland.
The Georgina Basin blocks secured by Blue Energy cover an area of approximately 5.63 million acres (22,788 sq km) whilst the Carpentaria Basin block is approximately 2.1 million acres (8,490 sq km) in area. Blue Energy holds these applications 100%.
Native title agreements and environmental authorities will be required before the permits can be granted by the Queensland government.
Blue Energy's newly appointed exploration director, John Ellice-Flint, said, "Securing such a large acreage position at this early stage of exploration in the Georgina Basin positions Blue Energy ideally to take advantage of the high demand by global energy players for unconventional hydrocarbon acreage."
"The new acreage is a further timely boost to Blue Energy's already significant license areas in Queensland, including continued progress with the development of our coal seam gas and shale projects in this state," he concluded.