Australian Gasfields Ltd (AGF) and Beach Energy Ltd entered into an agreement in July 2017 for AGF to acquire complete interest in two Cooper-Eromanga permits: production licence PL 184 (Thylungra field) and exploration permit ATP 932-P.   The deal will see AGF increase its interest to 100% in both permits. Currently, AGF holds 19.6% in PL 184 and has zero interest in ATP 932-P. The agreement was expected to be completed by end-January 2018, but registration by the Queensland Government remained pending as of August 2018.  Since early 2016, Beach has undertaken geological and geophysical studies in PL 184, in which AGF has contributed around AUD 770,000. The studies have been focused on the determining commercial opportunities for the Thylungra discovery.Â  PL 184 was awarded on 13 September 2001 and is due to expire on 12 September 2021. Both Beach and AGF have participated in the permit since October 2001. Beach Energy currently holds its interest through Beach Energy Ltd (74.2% + operator) and subsidiary company Mawson Petroleum Pty Ltd (6.2%).   ATP 932-P covers at area of 1,541 sq km and was awarded on 15 February 2013. Beach had been offering a farm-in opportunity in the block after a deal with Real Energy to acquire 50% interest failed to complete in 2012. ATP 932-P is currently 100% owned by Beach Energy, through its subsidiary companies: Drillsearch Energy Pty Ltd (50% + operator) and Circumpacific Energy (Australia) Pty Ltd.
Australian Gasfields Ltd (AGF) and Beach Energy Ltd entered into an agreement in July 2017 for AGF to acquire complete interest in two Cooper-Eromanga permits: production licence PL 184 (Thylungra field) and exploration permit ATP 932-P. The deal will see AGF increase its interest to 100% in both permits. 