GB Energy (VIC) Pty Ltd, a wholly owned subsidiary of GB Energy Ltd, acquired 100% interest and operatorship in retention lease VIC/RL1(v), located in the Central Gippsland Deep Sub-basin, on 10 May 2018.Â  GB Energy acquired the interest from previous holder Cape Energy (Victoria) Pty Ltd.   VIC/RL1(v) was awarded to a joint venture consisting of Bridge Oil Exploration Pty Ltd, GFE Resources Ltd and SEC of Victoria on 23 July 1992.Â  SEC of Victoria exited the permit in November 1999, before the remaining two parties sold their interests to Cape Energy in November 2005.  The licence contains the Golden Beach 1A gas discovery, which was made in 1967.Â  It is valid until October 2019, with evaluation and studies outlined.  VIC/RL1(v), which covers an area of 102 sq km, was awarded on 23 July 1992.Â  With the interest change completed, GB Energy (VIC) Pty Ltd holds 100% interest and operatorship in the licence.
GB Energy (VIC) Pty Ltd, a wholly owned subsidiary of GB Energy Ltd, acquired 100% interest and operatorship in retention lease VIC/RL1(v), located in the Central Gippsland Deep Sub-basin,