The Labor Party's plan to pay for its higher education promises/policies, by dropping the diesel Fuel Rebate Scheme, has drawn fire from industry groups, with the Chamber of Minerals and Energy (CME) saying it was bitterly disappointed with the proposal.
The Mermaid Clough JV has emerged as a winner from the Harriet Joint Venture's continued success with a further contract to install and connect up to 4.4km of subsea pipeline.
The Mungi and Harriet JV's both spudded new wells as Amadeus continued its streak of success making it four commercial wells in a row in Oklahoma. Shell New Zealand and Todd Energy started their first offshore exploration well in south Taranaki for several years.
BHPB and partners Apache Energy and Inpex have found a 43m net hydrocarbon column in the Ravensworth well in WA-155P. The discovery is located only 10km from the problematicVincent oil discovery and if Ravensworth proves commercial, can possibly be tied into the development plans for that field.
Hardman Resources has increased its issued capital by almost 10% following a UK capital raising which put almost $A23.5 million in its bank.
Also north of the border, Roc Oil added to its already substantial UK prospects by securing a 100% interest in and operatorship of, a new 828sq.km onshore exploration licence in Norfolk, eastern England
On the flip side AusAm Resources lost its exclusive farm-in rights to the Trifon tight gas project with Lakes Oil in the onshore Gippsland Basin after the failing in its attempts to raise finance for the project.
Energy Developments (ENE) has decided to write off up to $98 million it has pumped into the much hyped solid waste to energy process after conceding the project is unlikely to make money.
Santos and junior partner Cue Energy have got their feet into the developing East Java gas market following the signing of a new long term agreement to sell over 90 billion cubic feet (BCF) of gas.
Santos also increased its West Australian assets by acquiring interests in three offshore exploration license areas and committing to $4 million in new exploration.
Queensland Gas Company (QGC) and electricity generator CS Energy have completed their farm-in agreement on ATP632P in Queensland's Surat basin. The two parties now each hold a 50% interest in the Berwyndale South coal bed methane gas field.
Oil Search continued its dominance of everything PNG, by signing an agreement with ChevronTexaco to acquire its wholly owned subsidiary in Papua New Guinea, Chevron Niugini Limited (CNGL).
Woodside Petroleum could post an annual profit of up to $700 million according to some analysts after the petroleum giant yesterday reported a 13% rise in first-half sales to $1.12 billion, well above the $987.9 million posted a year ago.
