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06 Jun 2024 Energy

New player enters Territory’s highly prospective energy region

Top End Energy is the newest explorer to enter the highly prospective McArthur Basin, parent basin of the Beetaloo Sub-basin which is worth an expected $17 billion dollars to the Territory’s economy.

Top End Energy, on behalf of Territory Gas Aust, has been granted the 38th Petroleum Exploration Permit in the Territory, and joins global energy players Tamboran Resources, Empire Energy and Santos.

This marks a significant milestone allowing the company to progress with exploration to produce onshore gas in the Territory, alongside natural hydrogen and helium.

The Petroleum Exploration permit allows Top End Energy to explore from an identified section of land located south-west of the town of Elliott, with preliminary studies suggesting the area is highly prospective for shale gas, natural hydrogen and helium.

Top End Energy Managing Director, Oliver Oxenbridge said receiving the formal grant of “EP258 is the culmination of multiple years of engagement and collaboration with our supportive native title holders and the NT Government”.

“Being the first exploration permit to be granted in the NT since 2015 is a testament to the dedication of our team and the prospectivity of our acreage position.

“The grant of the permit enables us to begin exploration activities on the acreage in earnest, with our planned program of activities set to commence with the acquisition of a previously announced Airborne Gravity Gradiometry program.”

Concurrently, Top End Energy is in the final stages of acquiring three additional granted exploration permits surrounding the Beetaloo Sub-basin, increasing their investment and confidence in the Territory’s onshore gas industry.

This comes as other key players in the prospective region near final investment decision, including Tamboran Resources and Empire Energy, which recently raised over $46 million to progress with drilling.

Supporting the growth of the Territory’s onshore natural gas industry will provide thousands of working opportunities for Territorians, support local businesses and secure our energy supply long into the future.