Inpex Browse E&P Pty Ltd, a wholly owned subsidiary of Inpex Corp, was awarded exploration permit WA-533-P, located in the Canning and Roebuck basins, on 19 March 2018.Â  The permit has been awarded for a period of six years and will expire, or be eligible for renewal, on 18 March 2024. The permit was awarded to Inpex after being offered as block W16-6 in the 2016 Offshore Federal Acreage Re-release during 2017.Â  Work commitments have been assigned for the validity of the permit, with 5,005 km 2D and 1,035 sq km 3D seismic acquisition as well as geotechnical studies to be undertaken in years 1 â 3, between March 2018 and March 2021.Â  Further geotechnical studies are then outlined, including play evaluation and maturation of prospects, in years four and five.Â  In the final current permit year, between March 2023 and March 2024, one exploration well is planned at an estimated cost of AUD 25 million. WA-533-P, which covers an area of 12,439 sq km, was awarded on 19 March 2018.Â  Inpex Browse E&P Pty Ltd holds 100% interest and operatorship.
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