On 31 May 2019 Beach Energy Ltd, reported that it has entered into an agreement with Ofer Global Group (O.G Energy), for O.G. to acquire 40% interest in the La Bella field, located in VIC/P73, Otway Basin. The agreement is set to align interests across the basin after the companies secured a AUD 344 million deal on 31 May 2019 for O.G. to enter the other Beach held Otway assets. Beach holds its interest through subsidiary company Lattice Energy.  Lattice and O.G. first entered the Otway farm-in agreement on 5 October 2018 for O.G. to acquire 40% interest in L2 & T/L3 (Thylacine), VIC/L23, VIC/P43, VIC/P42(v) and VIC/L1(v) (Speculant & Halladale). The deal also included the 205 TJ/d Otway Gas Plant and had an effective completion date of 1 July 2018. VIC/P73 was not awarded until 13 February 2019. The permit was awarded after being offered as block V18-3 in the 2018 Offshore Federal Acreage Release.Â  It was offered as a cash bidding block.Â  Lattice Energy made the only application for the block, winning with a bid of AUD 4 million.    VIC/P73 contains the La Bella gas discovery, which was made in 1993.Â  The previous holder WHL Energy had hoped to produce from the field, before the permit was cancelled in 2017 due to failure to meet the required work programme.  Beach Energy reports that it plans to evaluate the potential for drilling a development well at La Bella, utilizing a rig contract as part of a wider Otway basin drilling programme.Â  The long-term plan is to tie La Bella into the Otway Gas plant.  VIC/P73, which covers an area of 200 sq km, was awarded on 13 February 2019.Â  Upon completion of the farm-in deal, participants in the permit will be: Lattice Energy Ltd (60%) and OGOG (Otway) Pty Ltd (40%).
Beach (->100%) reported that it has entered into an agreement with OGOG, to acquire 40% interest in the La Bella field, located in VIC/P73.