At the recent Queensland Exploration Council (QEC) Investment Showcase event in Brisbane, a crowd of 80 keen investors and energy enthusiasts came together to learn about the potential of local oil and gas explorers from Queensland’s Bowen, Cooper and Surat Basins. With gas supply a key issue facing Australia, the four explorers are well positioned to step up and meet the challenge.
Speaking at the event, QEC Chair Kim Wainwright emphasised the importance of supporting explorers on their pathway to production.
“As the largest onshore gas producer in the country, Queensland plays a crucial role in supplying gas to the eastern market. Further exploration is needed to secure that supply,” Ms Wainwright said.
Presenting at the event, Armour Energy CEO Christian Lange said the company’s vision is to build a leading exploration and production company, and given its proximity to distribution networks, to focus on supplying gas to the Eastern states.
“A unique aspect of Armour Energy’s portfolio is the relatively short routes available for commercialisation of new discoveries,” Mr Lange said.
“With Armour Energy’s strong balance sheet, we’ll be able to intelligently invest in growing production and reserves, while ensuring that we maintain our outstanding safety and environmental track record,” he said.
Also presenting at the QEC Investment Showcase event, Bengal Energy Exploration Manager Mike Nisbet said the Cooper Basin exploration company is well positioned to capture rare oil and gas opportunities by way of its proprietary technology early production systems.
“Our producing and prospective light oil and natural gas assets in the Cooper Basin present a unique exposure to potentially high impact exploration and production projects,” Mr Nisbet said.
John Phillips, CEO and Managing Director of Blue Energy, emphasised the advantages of natural gas and the ongoing necessity of the gas industry.
“Turning off fossil fuel too soon will lead to a lower standard of living. It’s vital for not only power generation, but also plays a crucial role in the production of fertilisers, plastics, bricks, glass, and refining critical minerals used for batteries and other applications,” Mr Phillips said.
“Global primary energy consumption is 80 per cent fossil fuel based– you can’t switch that to renewables overnight.
“Right now, the North Bowen Basin is the medium and long-term solution to the east coast gas users’ woes – it just needs nation building gas infrastructure,” Mr Phillips said.
Lauren Bennett, CEO and Managing Director for Omega Oil & Gas stated that given the forecast gas supply shortages, finding, and developing new sources of unencumbered gas is critical.
“Omega’s proximity to well established Queensland gas infrastructure and the clear requirement for more gas in the major population centres to feed industry, places Omega in a favourable position to build on the gas discovery at its Canyon 2 site and further de-risk a potential 3-TCF of prospective gas resource,” Ms Bennett said.
