Business News

Brisbane 14 June 2013. The Newman Government has launched its second competitive cash tender process to award exploration rights on Queensland’s most potentially resource-rich petroleum and gas land.

Minister for Natural Resources and Mines, Andrew Cripps, said the process would stimulate exploration, with the benefits to be shared by all Queenslanders.

“The controlled release of land for exploration through competitive cash tender better reflects the potential in-ground value of these resources and delivers stronger economic returns for all Queenslanders,” Mr Cripps said.

“It also ensures the most appropriate explorer, with a commitment to developing the resource in a timely manner, secures the exploration rights.”

Mr Cripps said the land open for competitive cash tender collectively covers approximately 295 square km or 92 sub-blocks of highly prospective land in the Surat and Bowen Basins.

“I want to stress there is a cash component involved in this particular land tender,” he said.

“All applications for this tender will be subject to a fair, transparent and impartial evaluation process in line with the government’s competitive cash tender projects probity and evaluation plans.

“Applicants will be rigorously assessed and must present a suitable work program aimed at developing the resource in a timely manner.”

Mr Cripps emphasised that, as is the case with all exploration permits, applicants must satisfy all environmental, strategic cropping land, land access and native title requirements prior to grant.

“I want to assure landholders and the broader community that interested resource companies will need to demonstrate a commitment to responsible and respectful land access arrangements, and a respect for the environment,” he said.

“The preferred tenders will be identified by an impartial evaluation panel supported by specialist technical and financial advisory panels and an independent probity auditor.”

Mr Cripps said the six areas of land available for petroleum and gas exploration through this competitive cash tender are:

PLR2013-3-1

Approximately 31km² (10 sub-blocks) in area and located approximately 65 km south of Rolleston within the Bowen Basin

PLR2013-3-2

Approximately 12km² (4 sub-blocks) in area and located 3km east of Wallumbilla in the Surat Basin overlying the Bowen Basin

PLR2013-3-3

Approximately 64km² (21 sub-blocks) in area and located 23km east of Wallumbilla in the Surat Basin overlying the Bowen Basin

PLR2013-3-4

Approximately 75km² (25 sub-blocks) in area and located 60km west of Chinchilla in the Surat and Bowen Basins on the eastern side of the Taroom Trough and in the Undulla Nose area

PLR2013-4-1

Approximately 101km² (33 sub-blocks) in area and located 23km east of Wallumbilla in the Surat Basin overlying the Bowen Basin

PLR2013-4-2

Approximately 12.2km² (4 sub-blocks) in area and located 30km west of Dalby in the Surat Basin overlying the Bowen Basin

Interested parties have until 2:30pm on Thursday 10 October 2013 to lodge their tender applications.

More information about competitive cash tendering is available at: www.dnrm.qld.gov.au