Baraka Energy and Resources Ltd has reported that it is seeking a farm-in partner for exploration permit EP 127, located in the Georgina Basin. The permit is located in the Northern Territory, where discussion around the future of fracking was ongoing throughout 2017. Â The ban on fracking was lifted in 2018 and Baraka reported in August that this has allowed it to continue seeking a farm-in partner within the permit. Â While the moratorium on fracking activity was in place, Baraka commented that the lifting of this would a positive towards is future work on the permit.  During the latter part of 2017 Baraka reported that it was continuing to plan a Resource Imaging Technology Survey, using Seismo-Electric technology. Baraka would like to acquire a trial survey close to existing wells in the permit, as it is a new technology in its infancy in Australia.  In March 2016 it was reported that an offer of intent from the Northern Territory Department of Mines and Energy to renew the permit had been accepted.Â  This was approved on 6 April 2016, with the permit renewed for a further five years as of December 2015.  In March 2015 Baraka announced that its joint venture partners in the permit, PetroFrontier and Statoil, would be withdrawing from the asset.Â  This will give Baraka a 100% interest position, and operatorship. Baraka reported on 18 March 2016 that the transfer of interest was underway.  A recent unconventional exploration programme, undertaken over four permit areas, including EP 127, by Statoil as part of a farm-in, saw three wells drilled within the permit in 2014.Â  The wells were targeting shale liquids potential, alongside the other wells in the programme, though results were disappointing. This led to Statoilâs withdrawal from further work in the programme to farm-in and withdrawal from the permits.  EP 128 was originally included in Barakaâs farm-in opportunity.Â  Initially, in 2015, Baraka had lodged for a renewal for EP 128, which was due to expire on 13 June 2015. However, the terms for renewal did not meet Barakaâs requirements and so the permit was subsequently relinquished in January 2015.  EP 127 was due to expire on 13 December 2015, however Baraka applied for a renewal in early 2016.Â  This was granted and the permit is now valid until December 2020.Â  The permit covers an area of 14,280 sq km and was awarded on 19 December 2007. Baraka holds 100% interest and operatorship.  Baraka reported in early 2016 that it had been approached by a Canadian company interested in pursuing the conventional potential within several Georgina Basin permits and reported that it would continue discussion during the renewal process, whilst looking for additional farm-in partners. However, in October 2016 Baraka reported that discussions with the Canadian company had ceased and it now would continue to market the opportunity to other interested companies.
Baraka Energy and Resources Ltd has reported that it is seeking a farm-in partner for exploration permit EP 127, located in the Georgina Basin. The permit is located in the Northern Territory, where discussion around the future of fracking was ongoing throughout 2017. 